Head on over to AlterNet to see our latest op-ed by NCRW Director of Research and Programs, Shyama Venkateswar. In "Women of Color Slammed by Economic Crisis--We Must Strengthen Basic Safety Nets," Shyama argues that we must build our economy from the bottom up by strenthening basic safety nets. She says,
According to Obama’s FY2011 Budget proposal released earlier this month, key investments for greater economic security and job creation are education, clean energy, infrastructure and innovation. An article in the Christian Science Monitor this week picks up on that last investment. Says the article,
Since the beginning of the recession at the end of 2007, unemployment has increased rapidly, in Pennsylvania as it has elsewhere. While many families suffer as a result of reduced earnings and unemployment, women who head households face significantly higher risks of unemployment than male heads of households, and are much more likely than men to live in poverty.
Today marks the one-year anniversary of the American Recovery and Reinvestment Act (ARRA). In its first year, ARRA has provided tax cuts to individuals, fiscal relief to states, and aid to those most directly hurt by the recession. According to the Council of Economic Advisors, the Recovery Act has added around 2.3% to real GDP growth and in August, it added one million jobs that would have been lost without the Recovery Act. That said, the national unemployment rate currently stands at an unacceptable 9.7% (which many experts say is a conservatively low estimate).
Linda Basch: How has ARRA impacted our economy from a local, community, or individual/family perspective?
Sara Gould: ARRA has provided a crucial injection of support to states during the worst of our nation’s current economic crisis. Take child care, for example: several states have used the funding to prevent budget cuts; some have reduced waiting lists for subsidized child care; and others have worked to improve the quality of child-care delivery.
At year one, the legacy of the American Recovery and Reinvestment Act is still unwritten. Most economists agree that the Act has created and saved large numbers of jobs, and helped stave off potentially catastrophic levels of unemployment. Given where our economy was a year ago, that is a huge and important accomplishment.
One year has passed since the Obama administration enacted the $787 billion American Recovery and Reinvestment Act (ARRA), the largest boon to public spending and the safety net since the New Deal. Last week, President Obama linked economic recovery to investments in clean energy and green job creation in his State of the Union address.