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By Rachel Goldfarb, originally published on Next New Deal

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Left Jab Radio (Sirius XM)

Jon Aberman and Mark Walsh speak with Roosevelt Institute Senior Fellow and Director of the Bernard L. Schwartz Rediscovering Government Initiative Jeff Madrick about technological innovation that doesn't lead to productivity increases, the jobs emergency, and how to make the U.S. economy more competitive.

Republicans Just Won the Food Stamp War (MoJo)

Erika Eichelberger writes that as the Senate plans to pass the current House version of the Farm Bill, which cuts $9 billion from SNAP, it's clear that the Democrats lost this fight. These cuts will mean that about a million families will receive $90 less per month.

Port Authority Demands Airlines Raise Worker Wages (NY Daily News)

Dan Friedman, Kenneth Lovett, and Rich Schapiro report that following a week-long campaign pushing for higher wages for airport workers, the executive director of the Port Authority has mandated a $9-per-hour wage for workers at LaGuardia and JFK airports.

Outsiders, Not Auto Plant, Battle U.A.W. in Tennessee (NYT)

Steven Greenhouse looks at the opposition to unionization efforts at the Volkswagen plant in Chattanooga, Tennessee. National groups like the Center for Worker Freedom are pouring vast amounts of money into this fight, even though some think Volkswagen is open to the union.

Fed Stays the Course on Stimulus Reduction (WaPo)

Ylan Q. Mui writes that the Federal Reserve will continue to scale back its bond-buying program by about $10 billion in February. She notes that this is despite some concerns about weak job growth, as the December jobs report showed the nation added only 74,000 jobs.

New on Next New Deal

Roosevelt Reacts: What Worked and What Didn't in the 2014 State of the Union

Roosevelt Institute Fellows and Network members respond to the State of the Union: what they liked, what was missing, and how the president should proceed from here.

State of the Union 2014: Obama Offers Action, Not Apologies

Roosevelt Institute Senior Fellow Jeff Madrick praises the president for focusing on the changes that can be made rather than the year's mistakes. He's also glad to see Obama taking Congress to task for making progress impossible due to gridlock.

The State of the Union Then and Now: Raising the Minimum Wage is Still a Good Idea

Roosevelt Institute Senior Fellow and Hyde Park Resident Historian David Woolner notes that the president's call for a higher minimum wage mirrors President Franklin D. Roosevelt's 1938 State of the Union, which used similar arguments to call for the creation of the minimum wage.


Originally posted to Daily Kos Economics on Thu Jan 30, 2014 at 09:58 AM PST.

Also republished by Daily Kos.

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Comment Preferences

  •  I see only one way, in principle. (4+ / 0-)

    The US should print say five to ten trillion dollars in new money and disperse it, not to banks or to Wall Street, but to the general populace.

    Suggestion for Facebook: 50 free "starter friends" automatically as soon as you sign up.

    by dov12348 on Thu Jan 30, 2014 at 10:46:42 AM PST

    •  the tragedy is... (2+ / 0-)
      Recommended by:
      Aunt Pat, TKO333

      ...that outgoing Fed chair Ben Bernanke understood this before he became Fed chair--it's how he got his old nickname, "Helicopter Ben"--by suggesting the government "throw money from helicopters" to create demand if interest rates were already near zero.

      Then he became Fed chair and forgot it.

      QE is not the same because in QE, the money gets stuck in bank accounts. It doesn't get invested in production capacity (jobs) because capacity utilization is already below its historic norm.

      Of course the real problem is that the Fed simply doesn't have the power to create a new WPA/CCC, or to authorize the government to spend money on infrastructure. Only Congress can do what really needs doing. But the Fed chair has a bully pulpit and could say that, and Bernanke hasn't been saying it.

      "The true strength of our nation comes not from the might of our arms or the scale of our wealth, but from the enduring power of our ideals." - Barack Obama

      by HeyMikey on Thu Jan 30, 2014 at 01:15:56 PM PST

      [ Parent ]

    •  Here's What We Need To Do (1+ / 0-)
      Recommended by:
      Aunt Pat

      We need to remove the tax penalty on wages by taxing capital gains exactly like ordinary income.   We can do it in a revenue neutral way just to remove the distortion from the economy.  The tax penalty on wages means hiring and working is less attractive than investing and rent-seeking.  

      Abolish the capital gains tax.  Tax capital gains as ordinary income.

      •  Investment income is ordinary income. (0+ / 0-)

        'Earned' income depends more on economic activity within the USA. Investment income is international. ('capital is mobile')
        'Rewarding' domestic activity with tax breaks is better from a nationalistic mindset. (as the tea party says, "soveREigNity!2!")
        Tax capital gains as ordinary income.
        Which it is.  The double 'taxation' propaganda is no more valid for investment than for any other income that is paid from the business.

        ♥ Repeal the Capital Gains, Carried Interest & Dividends Entitlements bequeathed to 'more special' taxpayers.

        by in on Fri Jan 31, 2014 at 04:19:49 AM PST

        [ Parent ]

    •  THis is called "trickle up theory". (0+ / 0-)

      Legal means "good".
      [41984 | Feb 4, 2005]

      by xxdr zombiexx on Thu Jan 30, 2014 at 08:26:48 PM PST

      [ Parent ]

    •  Well, Actually Your Idea Has Merit (0+ / 0-)

      right now millions of us of a "certain age" have been paying into the Social Security system for 30-40 years.

      the government needs to give us the option to access 75% of our money NOW. give us our money NOW.

      IF I had my money NOW, I could do the major remodeling project I have to do on my home. I have a local carpenter lined up-- HE would have work, be earning INCOME, the Lowe's where I will buy the lumber, drywall, paint, etc.. will be SELLING me stuff. they might have to hire more people to work there.

      I'm not sure why this is rocket science?

      "It is essential that there should be organization of Labor. Capital organizes & therefore Labor must organize" Theodore Roosevelt

      by Superpole on Fri Jan 31, 2014 at 03:20:32 AM PST

      [ Parent ]

      •  'Capital organizes.. Labor must organize' - TR (2+ / 0-)
        Recommended by:
        TKO333, Superpole

        "It is essential that there should be organization of Labor. Capital organizes & therefore Labor must organize" Theodore Roosevelt
        The oligarchy has proven beyond doubt that corporate unions provide the oligarchy inordinately huge portions of the economies production.

        Restore employee rights. Expand freedoms and liberties, instead of destroying freedoms and liberties, as teathugs continue to do.

        Many of the wages (sins) of classwar will subside once classwar's opponents are roughly matched.

        ♥ Repeal the Capital Gains, Carried Interest & Dividends Entitlements bequeathed to 'more special' taxpayers.

        by in on Fri Jan 31, 2014 at 04:27:15 AM PST

        [ Parent ]

  •   In a word - Infrastructure (3+ / 0-)
    Recommended by:
    Aunt Pat, Superpole, TKO333

    With all that needs doing here - It's insane that capable people wanting a job and ready to perform necessary, productive work are begging for jobs that aren't there.

    FDR had it right, and the current powers that be have it wrong

    Additionally - We need a gigantic, Apollo grade investment in green energy research and production.

    But no. The God botherers, the flag humpers, and the sociopathic Gordon Gekkos of the country and the world won't have it.

    Dear future generations: Please accept our apologies, We were roaring drunk on petroleum -Kurt Vonnegut

    by Anthony Page aka SecondComing on Thu Jan 30, 2014 at 08:18:27 PM PST

  •  You (1+ / 0-)
    Recommended by:
    Aunt Pat

    Legal means "good".
    [41984 | Feb 4, 2005]

    by xxdr zombiexx on Thu Jan 30, 2014 at 08:26:23 PM PST

  •  trying to promote the progressive agenda (1+ / 0-)
    Recommended by:
    Aunt Pat

    in South Carolina - next protest:

    http://www.dailykos.com/...

    Faux News ruined my state

    by sc kitty on Thu Jan 30, 2014 at 08:29:36 PM PST

  •  wars not stamps (1+ / 0-)
    Recommended by:
    Superpole

    Americans are in the business of wars not  food stamps. the evidence reveals the corp profits from these on going wars and Americans go about their lives paying little attention.

    This is not new empires in history have always paid more attention to their wars than the needs of its poor.

    What is amazing is how Americans keep bragging about their exceptionalism all the while following the same path as other former empires near the end of their empire status.

  •  "WE" Can't 'Make the Economy Work Again' (0+ / 0-)

    I'm  not sure why this is rocket science,

    70% of our economy is driven by consumer spending.. if 40-50% of those consumers are broke or have significantly less disposable income than before the Crash-- what do you suppose that does to our economy?

    it wrecks it-- as in fact our economy is a train wreck right now.

    unless there's some sort of alternate economic universe that I am not aware of-- there's only TWO groups that can significantly impact our economy:

    (the operative word is significant).

    1.) the private sector (businesses, corporations).

    2.) the public sector (the government).

    Right now the private sector is sitting on numerous Billions of dollars, not investing it in our nation.

    Sooo.. I wonder who that leaves to invest in our nation??

    "WE" do not have numerous Billions of dollars to invest in the things (INFRASTRUCTURE) we need to be investing in. "sorry" there's no amount of bake sales or yard sales that are going to raise the Billions of dollars we need.

    "It is essential that there should be organization of Labor. Capital organizes & therefore Labor must organize" Theodore Roosevelt

    by Superpole on Fri Jan 31, 2014 at 02:59:22 AM PST

    •  also, *who* is spending on *what* (1+ / 0-)
      Recommended by:
      Superpole

      70% of our economy is driven by consumer spending.. if 40-50% of those consumers are broke or have significantly less disposable income than before the Crash-- what do you suppose that does to our economy?

      yes, all 'investment' serves 'spending'.

      A higher proportion of the "wealthy" than the other classes spend unwisely (inefficiently, ineffectually).
      Imelda Marcos's closets full of shoes provide little value.

      Koch Party policies create 3rd rate banana republics.

      There's No Such Thing As A Free Tax Break
      psychology might inhibit or delay net advantage that requires some destruction

      ♥ Repeal the Capital Gains, Carried Interest & Dividends Entitlements bequeathed to 'more special' taxpayers.

      by in on Fri Jan 31, 2014 at 04:49:19 AM PST

      [ Parent ]

      •  The Federal Government Under Obama (0+ / 0-)

        just injected Trillions of dollars into the One Percent to keep them afloat.. for a few more years.

        either Obama and congress are totally complicit with this massive transfer of wealth-- to the wealthy-- or, they aren't which begs the question: WHO is running the Circus?

        "It is essential that there should be organization of Labor. Capital organizes & therefore Labor must organize" Theodore Roosevelt

        by Superpole on Sat Feb 01, 2014 at 01:25:57 AM PST

        [ Parent ]

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