The Right Number
When—even whether—Congress will reach
a deal on stimulus remains an open question. In the framework’s
current $908
billion iteration, however, one thing is
certain: It won’t be enough to revive the US
economy.
As Roosevelt Fellow Mark Paul and
Adam S. Hersh (Director of Washington Global Advisors, LLC) estimate
in a new Groundwork Collaborative report, getting the economy to full
potential would require $3–4.5
trillion in relief
in the near term and automatic renewal triggers to avoid future
benefit cliffs.
“Economics has given us all the
tools we need to address the crisis, and we just need the policymakers
to open up the checkbooks of the US government,” Paul told Vox’s Emily
Stewart. Read
on.
Executive stimulus: As Roosevelt President & CEO Felicia Wong told NPR, the
incoming Biden administration won’t have to wait to take its own
action on student debt cancellation and a $15 minimum wage for federal
contractors. Read
more.
Coming soon: Next week, Roosevelt will
release a new trio of stimulus-focused issue briefs that examine the
lessons of the Great Recession and explain why we need
deficit-financed investment now. Watch this
space.
The Future of
Democracy
“Reconstructing our democracy will
be daunting, but it will also lift us up. Democracies are about more
than elections every four years,” Roosevelt Chief Economist
Joseph
Stiglitz writes
for the New York
Times.
“We won’t succeed in restoring
trust and a sense of social cohesion until we confront, head on, our
intertwined racial, ethnic, and economic inequalities. These schisms
inevitably divide us and undermine the solidarity democracy
demands.”
Catch
Up
If you missed this week’s Roosevelt
webinar, watch the full recording now:
Employer
Power and Employee Skills: Understanding Workforce Training Programs
in the Context of Labor Market Power
- Featured
panelists: Roosevelt Fellow Suresh Naidu, Aaron Sojourner (Associate
Professor, Carlson School of Management, University of Minnesota),
Amanda Cage (President & CEO, National Fund for Workforce
Solutions; Member, WorkRise Leadership Board), Lenore Friedlaender
(Assistant to the President, 32BJ SEIU), and Howard Rothschild
(President, Realty Advisory Board on Labor Relations)
- Moderator: Elisabeth Jacobs (Acting Executive Director,
WorkRise; Senior Fellow, Center on Labor, Human Services, and
Population, Urban Institute)
Correction: Last week’s
Rundown referred to Saule Omarova’s American Prospect piece
advocating for a National Investment Authority; the full proposal for
a National
Investment Authority was developed by
both Saule Omarova and Robert Hockett.
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