Why Labor and the Movement for Racial Justice Should Work Together
Why Labor and the Movement for Racial Justice Should Work Together
The Movement for Black Lives (M4BL) has made tremendous strides in exposing and challenging racial injustice, and has...
The Movement for Black Lives (M4BL) has made tremendous strides in exposing and challenging racial injustice, and has won real policy victories. The policies, while often imperfect, are a testament to the strength of the organizing and activism of the moment. Not coincidentally, this uprising comes at a time when income and wealth inequality are at peak levels and the economy for most black people looks markedly different than the economy for their white counterparts.
Just as we are in a critical moment in the movement for racial justice, we are in a critical moment for the right to unionize. Unions, which have been a major force for economic justice for people of color in the past 50 years, have been decimated to historically low levels.
Labor should work alongside the Movement for Black Lives, a coalition with more than 50 organizations, to usher in a radically new economic and social order. The path won’t be easy. But recent history has shown that one of the ways to get at this new reality is through union bargaining. Consider the example of Fix L.A.
Fix L.A. is a community-labor partnership that fought to fund city services and jobs alike, using city workers’ bargaining as a flashpoint to bring common good demands to the table. The coalition started after government leaders in Los Angeles drastically cut back on public services and infrastructure maintenance during the Great Recession. The city slashed nearly 5,000 jobs, a large portion of which had been held by black and Latino workers. Not only did these cuts create infrastructure problems—like overgrown and dangerous trees and flooding—but they also cost thousands of black and Latino families their livelihoods.
Fix L.A. asked why the city was spending more on bank fees than on street services, and demanded that it renegotiate those fees and invest the savings in underserved communities.
What was the result of this groundbreaking campaign?
The creation of 5,000 jobs, with a commitment to increase access to those jobs for black and Latino workers, the defeat of proposed concessions for city workers and a commitment from the city to review why it was prioritizing payment of bank fees over funding for critical services in the first place!
Bargaining for the common good
Fix L.A. may seem novel, but the context is no different from many places. We have seen massive disinvestment from public services in a way that disproportionately affects black people. This structurally-racist disinvestment is often driven by the corporate interests that bankroll elected officials’ campaigns and by Wall Street actors that use their influence over public finance to push an austerity agenda. Everywhere you look, public officials are making a choice between paying fees and providing critical services.
Chicago Public Schools paid $502 million to banks in toxic swap fees at the same time that it was slashing special education programs and laying off teachers to close a budget deficit. Detroit raised its water rates and paid $537 million in Wall Street penalties, setting the stage for mass water shutoffs when tens of thousands of poor residents of the overwhelmingly black city could not afford the higher water bills.
Wall Street and other corporations don’t hesitate to profit off of and perpetuate disinvestment in communities of color, and too often we forget to look up the food chain to see that at the other end of community crises there are rich bankers and billionaires lining their pockets. Campaigns, like Fix L.A., that involve direct actions targeting banks, hedge funds, corporations and billionaires are effective.
This sort of organizing can be hard. In order to isolate workers from their broader communities, the other side has done a terrific job of narrowly defining the scope of bargaining as wages and benefits. In many states, labor laws prohibit public sector workers from bargaining over issues that concern the welfare of the broader community or the quality of the services they provide.
The theory of “bargaining for the common good” seeks to challenge this status quo. As articulated by Joseph McCartin of Georgetown University’s Kalmanovitz Initiative for Labor and the Working Poor, bargaining for the common good has three main tenets: 1) transcending the bargaining frameworks written in law and rejecting them as tools for the corporate elite to remain in power; 2) crafting demands between local community groups and unions at the same time and in close coordination with each other from the very beginning; and 3) embracing collective direct action as key to the success of organizing campaigns.
These may seem like simple ideas, but they stand in complete opposition to the way the power elite expects union bargaining to be done. Therein lies their power.
Therein also lies the opportunity for unions to partner with the Movement for Black Lives. For all of their complicated racial histories, unions are some of the largest organizations of black people in the country. About 2.2 million black Americans are union members—some 14 percent of the employed black workforce.
That’s a huge number of black people who are already members of organizations with the capacity to organize and mobilize. And these black workers, like all black people in America, face real challenges of structural economic racism in almost all aspects of their lives. Their communities have been underfunded; their schools are being dismantled; they face massive poverty and are under economic assault; and they regularly encounter police violence.
Stronger together
Widening the scope of bargaining in Los Angeles led to real wins for the city’s black and Latino communities. The rest of the labor movement should take note. Imagine the power that could be added to the Movement for Black Lives if unions, recognizing the trauma that systematic racism wreaks on their membership, brought solutions that have been elevated by the Movement for Black Lives to the bargaining table in negotiations with employers ranging from the City of Baltimore to private equity giant Blackstone.
But unions cannot do this unilaterally and expect unconditional support from the black community.
Unions must make the effort on the front end to build a real relationship with Movement for Black Lives groups and members, and partner with them in developing common good bargaining demands that start to go on the offense against Wall Street and the structurally-racist economic power structure. There are groups of people organizing for racial justice under the banner of the Movement for Black Lives near every union local in the country. The onus is on labor leaders and rank-and-file union members to reach out to those groups and start to build a strong relationship where one does not exist. This process will not be easy, especially because of the history of racism that plagues unions, especially police unions. But the truth remains that there is a real opportunity to leverage the power of both movements to win real gains for black people and other people of color through a strong partnership.
It is exciting to imagine potential bargaining demands major unions could undertake alongside racial justice organizations. For example, they could demand that their employers make a commitment to job training programs to strengthen the pipeline for black workers; city and state workers could demand progressive taxation measures that raise funds from corporate actors to fund schools and services in black communities; teachers could demand school districts enact restorative justice policies to stem the school-to-prison pipeline; hospital workers could bargain for targeted health care access programs in communities of color; retail workers could demand that their employers “ban the box” and let the formerly incarcerated work. The list is almost infinite.
Bargaining for racial justice is a radical idea and will not be easily won. It will require concerted direct action targeting the real decision makers in both the public and private sectors that have a vested interest in keeping racial inequities in place. The Movement for Black Lives has proven that it can execute effective and creative direct actions backed by solid demands. They are also innovating creative tactics that move beyond traditional marches and picket lines to new types of disruptive actions that make power holders directly confront those they are harming. By combining the vision and militant tactics of the Movement for Black Lives with the membership and resources of the labor movement, we can usher in a more just and equitable society
BY MAURICE WEEKS AND MARILYN SNEIDERMAN
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Chicago Activists, Lawmakers Deliver Petitions To SEC For Action On 'Toxic' Interest Rate Swaps (VIDEO)
Chicago Activists, Lawmakers Deliver Petitions To SEC For Action On 'Toxic' Interest Rate Swaps (VIDEO)
Chicago community activists and local elected officials delivered 88,000 petition signatures to the U.S. Securities and...
Chicago community activists and local elected officials delivered 88,000 petition signatures to the U.S. Securities and Exchange Commission's (SEC) regional office Thursday morning, urging the agency to investigate complex financial agreements called interest rate swaps.
Those who delivered the petition signatures, collected online by the Grassroots Collaborative and several other organizations, say cash-strapped local and state governments are being squeezed by the "toxic swaps" they entered into with banks before the Great Recession. The complicated deals, which come with hefty penalties and termination fees, were intended to save taxpayer-backed organizations money, but they backfired when the economy crashed.
"These are the same toxic swaps that have drained millions of dollars out of our city, state and (Chicago Public Schools) budgets and are hurting cities and states across the country," Saqib Bhatti, director of the ReFund America Project, said outside the SEC's Chicago regional office, 175 W. Jackson Boulevard.
Illinois State Reps. Robert Martwick (D-Chicago), Emanuel "Chris" Welch (D-Westchester) and Chicago Ald. Carlos Ramirez-Rosa (35th Ward) joined activists at the petition delivery.
Petitioners want the SEC to "investigate the 'toxic swaps' Wall Street is using to impoverish our cities and towns -- and make bankers return all ill-gotten profits from deceptive and fraudulent sales."
The state of Illinois has already paid $684 million for interest rate swaps and could be forced to pay an additional $870 million in November if "the state does not sue or renegotiate these deals," according to the Grassroots Collaborative.
Interest rate swaps, Ramirez-Rosa said, have cost the city of Chicago and CPS over $1 billion in combined payments, plus $600 million in costs associated with terminating the agreements.
"That $600 million in ransom to the banks went to go pad their bottom line," Ramirez-Rosa said. "The banks don't need more money. Our neighborhoods desperately need these funds. ... The SEC can act now to recuperate some of that money for the city of Chicago and the Chicago Public Schools, and they can act now to defend the state of Illinois from further payments, from paying a larger ransom, to these banks."
Welch said he is "disgusted" that "big banks continue to profit at the expense of our most vulnerable." He urged Illinois Gov. Bruce Rauner, Chicago Mayor Rahm Emanuel and CPS CEO Forrest Claypool to join the push for an SEC investigation into swap agreements.
"We ask the governor and our leaders in this city to stop putting banks before books," Welch said.
Here's more from the lawmakers at the petition delivery:
Organizers and the elected officials dropped off the petition signatures at the SEC's Chicago office, where a receptionist said she would give the documents to the regional director.
In addition to the Grassroots Collaborative, the online petition was circulated nationwide by Americans for Financial Reform, the Center for Popular Democracy, CREDO Action and Rootstrikers.
Read Progress Illinois' past reporting on how interest rate swaps work and their financial impact on the state, city of Chicago and CPS.
by ELLYN FORTINO
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Yellen and Draghi Speeches to Highlight Jackson Hole Conference
Yellen and Draghi Speeches to Highlight Jackson Hole Conference
Central bankers and economists from around the world will gather in the mountain resort of Jackson Hole, Wyo.,...
Central bankers and economists from around the world will gather in the mountain resort of Jackson Hole, Wyo., beginning Thursday for the Federal Reserve Bank of Kansas City's annual economic symposium.
The theme of this year's conference, "Fostering a Dynamic Global Economy, " highlights the challenges of boosting economic growth during an expansion that has been marked by poor productivity gains, rising protectionism and demands for greater fiscal austerity.
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Warren calls for diversity in Federal Reserve leadership
Warren calls for diversity in Federal Reserve leadership
WASHINGTON – The latest crusade in the name of diversity commenced on Thursday, this time aimed squarely at the makeup...
WASHINGTON – The latest crusade in the name of diversity commenced on Thursday, this time aimed squarely at the makeup of the Federal Reserve’s leadership and spearheaded in part by Elizabeth Warren, the senior U.S. senator from Massachusetts.
The Cambridge Democrat recently linked up with fellow Democrat, Michigan U.S. Rep. John Conyers, to send a letter to Janet Yellen, chair of the Federal Reserve Board of Governors, asking the former Clinton administration adviser to take action. They cited a 1977 law that requires the bank regulator to reflect the nation’s diversity.
The progressive duo began their missive by praising her work under President Barack Obama before stating that they “remain deeply concerned that the Federal Reserve has not yet fulfilled its statutory and moral obligation to ensure that its leadership reflects the composition of our diverse nation.” Instead, they said, the central bank’s leadership “remains overwhelmingly and disproportionately white and male,” and is drawn mainly from major banks and corporations.
The letter cites a statistic reported in February by the left-leaning Center for Popular Democracy that indicates that “83 percent of Federal Reserve head office board members are white” while “men occupy nearly three-fourths of all regional bank directorships.”
The lawmakers assert that the discussions among Fed leaders regarding labor market conditions never once mentioned the situation confronting blacks in 2010, the most recent year for which full transcripts are available. The lawmakers point out that the unemployment rate for blacks that year never fell below 15.5 percent, while the nation’s average jobless rate hovered just below 10 percent during most of that post-recession period.
Fellow Massachusetts U.S. Sen. Ed Markey put his signature on the letter, alongside those of more than 120 other Democrats in Congress
Warren and Conyers later took to social media to rally the public around the cause:
Former Secretary of State Hillary Clinton, the frontrunner for the Democratic presidential nomination, was also quick to throw her support behind the call for diversity:
“The Fed needs to be more representative of America as a whole,” Jesse Ferguson, a Clinton campaign spokesman, told the Associated Press Thursday, adding that Clinton also opposes the fact that three private-sector bankers currently sit on each regional Fed bank board.
The Fed is actively working to further diversify its ranks, bank spokesman Dave Skidmore said in a statement provided to AP.
“Minority representation on Reserve Bank and Branch boards has increased from 16 percent in 2010 to 24 percent in 2016,” Skidmore told AP. “The proportion of women directors has risen from 23 percent to 30 percent over the same period. Currently, 46 percent of all directors are diverse in terms of race and/or gender (with a director who is both female and a minority counted only one time).”
“We are striving to continue that progress.”
By BY EVAN LIPS
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New York Fed taps Williams for top post, ignoring Democrats on diversity
New York Fed taps Williams for top post, ignoring Democrats on diversity
Sen. Elizabeth Warren (D-Mass.) had called for the co-chairs and Williams to appear before the Senate Banking Committee...
Sen. Elizabeth Warren (D-Mass.) had called for the co-chairs and Williams to appear before the Senate Banking Committee if Williams ended up as the choice. Fed Up co-director Shawn Sebastian said the coalition supports that call. “Today, the Fed concluded another opaque and controversial Reserve Bank presidential selection process by ignoring the demands of the public and choosing another white man whose record on Wall St regulation and full employment raises serious questions,” he said in a tweet.
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ABQ, SF receive grants to help immigrants become citizens
ABQ, SF receive grants to help immigrants become citizens
Cities for Citizenship is a national initiative supported by advocacy groups Center for Popular Democracy and the...
Cities for Citizenship is a national initiative supported by advocacy groups Center for Popular Democracy and the National Partnership for New Americans, with Citi Community Development as founding corporate sponsor. Fourteen cities were awarded challenge grants of either $25,000 or $40,000 a year over two years after 66 cities submitted proposals.
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Education “Reformers’” New Big Lie: Charter Schools Become Even More Disastrous
Salon - March 2, 2015, by Jeff Bryant -What fun we had recently with North Carolina’s recently elected U.S. senator,...
Salon - March 2, 2015, by Jeff Bryant -What fun we had recently with North Carolina’s recently elected U.S. senator, Republican Thom Tillis, who insisted we didn’t need government regulations to compel restaurant employees to wash their hands in between using the toilet and preparing our food.
His solution to proper sanitation practices in restaurants – “the market will take care of that” – was roundly mocked by left-leaning commentators as an example of the way conservatives uphold the interests of businesses and moneymaking above all other concerns.
Fun, for sure, but it’s no laughing matter that the Tillis plan for public sanitation appears to increasingly be the philosophy for governing the nation’s schools.
Rather than directly address what ails struggling public schools, policy leaders increasingly claim that giving parents more choice about where they send their children to school – and letting that parent choice determine the funding of schools – will create a market mechanism that leaves the most competent schools remaining “in business” while incompetent schools eventually close.
Coupled with more “choice” are demands to increase the numbers of unregulated charter schools, especially those operated by private management firms that now have come to dominate roughly half the charter sector.
As schools lose more and more students to the charter schools, parents then “vote with their feet,” choice advocates argue, and the market will “work.”
Why the “Tillis Rule” that seems so wrong for public health has been declared the wave of the future for the nation’s schoolchildren and families seems to hardly ever get questioned.
Tarheel School Choice Extravaganza
The Tillis Rule is certainly now the driving force behind new education policy in North Carolina, as rapid charter school expansions and a new voucher plan have opened up public schools to various “market forces.”
How’s that working out?
So far, not so hot. For instance, in Charlotte, at least three charter schools abruptly closed down this year alone, some after having been in operation for only a few months. The most recent shutdown was particularly noticeable.
That school, Entrepreneur High, focused on teaching students job skills, so they could be financially independent when they graduated. Turns out the school had its own financial problems with only $14 in the bank and $400,000 in debt. In fact, the school never even really had a financial plan at all.
In other news from the front of “school choice” in the Tarheel State, left-leaning group N.C. Policy Watch recently reported about a state auditor who checked the books of a Kinston charter school and found the school overstated attendance–thereby inflating its state funds by more than $300,000.
The school shorted its staff by more than $370,000 in payroll obligations, according to reports, while making “questionable payments of more than $11,000″ to the CEO and his wife. And the CEO’s daughter was being paid $40,000 to be the school’s academic officer even though she had zero experience in teaching or school administration.
When the reporter, Lindsay Wagner, tried to contact the school’s CEO to question him about the auditor’s findings, she discovered he had left his position and was working elsewhere in the state – running a different charter school.
Meanwhile, the state has rolled out another school choice venture: vouchers, called Opportunity Scholarships, that allow parents to pull their kids out of public schools and get taxpayer funding to enroll the kids in the schools of their choice. Wagner, again, wondered where the money was heading and found 90 percent of it goes to private religious institutions.
More recently, Wagner’s account of this money found “more than $4,000,000 worth of taxpayer-funded school vouchers have now been paid out to private schools.” Of the top 12 private schools benefiting from this money, all are religious schools.
Also, Wagner reported, voucher funds come with “virtually no accountability measures attached … Private schools are also free to use any curriculum they see fit, employ untrained, unlicensed teachers and conduct criminal background checks only on the heads of schools. For the most part, they do not have to share their budgets or financial practices with the public, in spite of receiving public dollars.”
It’s unfair, however, to single out North Carolina for school choice shenanigans.
Charter Corruption Spreads, Grows
In Ohio, for instance, a recent investigation into charter schools by state auditors found evidence of fraud that made North Carolina’s pale in comparison. The privately operated schools get nearly $6,000 in taxpayer money for every student they enroll, but half the charter schools the auditor looked at had “significantly lower” attendance than what they claimed in state funding.
One charter school in Youngstown had no students at all, having sent the kids home for the day at 12:30 in the afternoon.
This form of charter school fraud is so widespread, according to an article in Education Week, many states now employ “‘mystery’ or ‘secret shopper’ services used in retail” that pose as inquiring parents to call charter schools to ensure they’re educating the students they say they are.
Enrollment inflation is not the only form of fraud charter schools practice. In Missouri, a federal judge recently fingered a nationwide chain of charter schools, Imagine, for “self-dealing” in a lease agreement that allowed it to fleece a local charter school of over a million dollars.
“The facts of the case mirror arrangements in Ohio and other states,” the reporter noted, “where Imagine schools pay exorbitant rent to an Imagine subsidiary, SchoolHouse Finance. The high lease payments leave little money for classroom instruction and help explain the poor academic records of Imagine schools in both states.”
A charter school manager in Michigan is about to go on trial for steering nearly a million dollars in public funds targeted to renovate his charter school into his own bank account.
In Washington, which was late to the game of charters and choice, the state’s first charter school is already under investigation for financial and academic issues.
Investigators in the District of Columbia, recently uncovered a charter school operator who “funneled $13 million of public money into a private company for personal gain.”
A recent report from the Center for Popular Democracy looked at charter school finances in Illinois and found “$13.1 million in fraud by charter school officials … Because of the lack of transparency and necessary oversight, total fraud is estimated at $27.7 million in 2014 alone.”
One example the CPD report cited was of a charter operator in Chicago who used charter school funds amounting to more than $250,000 to purchase personal items from luxury department stores, including $2,000 on hair care and cosmetic products and $5,800 for jewelry.
The report made specific policy recommendations, including financial reviews and a moratorium on new charters, to increase the transparency and accountability of these schools – the type of policy recommendations charter and school choice fans continue to fight at every turn.
Voucher Ventures Expand Across the Country
While charter school operations continue to waste public money on scandals and fraud – all in the name of “choice” – newly enacted school vouchers divert more public school dollars to private schools.
In parts of Ohio, “the state-sponsored voucher program has increased or even doubled enrollment at some private schools.”
In Indiana, which has the largest taxpayer-funded school voucher program in the country, according to a local source, virtually all of the participating schools, 97 percent, are religiously affiliated private schools.
In Louisiana, over a third of students using voucher funds to attend private schools are enrolled schools “doing such a poor job of educating them that the schools have been barred from taking new voucher students.”
In parts of Wisconsin, “private schools accepting vouchers receive more money per student than public school districts do for students attending through open enrollment.”
Despite the obvious misdirection of taxpayer money, more states are eager to roll out new voucher plans or expand the ones they have. As the Economist recently reported, “After the Republicans’ success in state elections in November, several are pushing to increase the number and scope of school voucher schemes,” including Wisconsin, where probable presidential candidate Scott Walker has proposed to remove all limits on the number of schoolchildren who could attend private schools at taxpayer expense.
Of course, not all voucher-like schemes are called “vouchers.” According to a report from Politico, some states are considering voucher-like mechanisms called Education Savings Accounts that allow parents to pocket taxpayer money that would normally pay for public schools to be used for other education pursuits, including private school and home schooling. Two states – Florida and Arizona – already have them, but six more may soon follow.
Vouchers Hit the Hill
Support for vouchers extends to Congress, as another Politico article reported, where Republican, and some Democratic, lawmakers are “proposing sweeping voucher bills and nudging school choice into conversations about the 2016 primaries.”
According to a report from Education Week, congressional Republicans leading the effort to rewrite the nation’s federal education policy, called No Child Left Behind, are “intent on drafting the most-conservative version of the federal K-12 law possible,” which would include a voucher-like scheme allowing federal money designated as Title I funds, the program for schools with low-income students, “to follow those students to the school of their choice, including private schools.”
In fact, working its way through the U.S. House of Representatives currently is a bill called the Student Success Act that would provide for this “Title I Portability.” In the U.S. Senate, according to Education Week, Title I Portability is also included in a draft bill to rewrite NCLB introduced by Sen. Lamar Alexander of Tennessee.
“Everyone should care and learn about Title I Portability,” warns public school advocate Jan Resseger on Public School Shakedown, a blog site operated by the Progressive magazine.
Resseger points to a statement by the National Coalition for Public Education stating, “This proposal would undermine Title I’s fundamental purpose of assisting public schools with high concentrations of poverty and high-need students.” Resseger also cites, from the Center on American Progress, a brief opposing Title I Portability. “According to CAP,” Resseger explains, Title I Portability would be “Robin Hood in Reverse … taking from the poor and giving to the rest,” ignoring the long-known fact that socioeconomic isolation has a devastating impact, as, on average, “school districts with highly concentrated family poverty would lose $85 per student while more affluent school districts would gain, on average, $290 per student.”
Despite the damage that Title I Portability could do to public schools serving our most high-needs students, charter school advocates appear to back the measure, according to a recent post at Education Week. “By and large, we feel that when the dollars follow children to the school that they select, you create a better marketplace for reform,” the president of the National Alliance for Public Charter Schools Nina Rees is quoted.
What about those charters that continue to commit waste and fraud while they funnel public money into privately operated businesses? Will “the market will take care of that”?
Where Choice Fails
Back to the Tillis Rule, consider another example of leaving public health policy up to individual choice: the recent measles outbreak.
That outbreak made it abundantly clear that where parents have the good fortune to be “safe in the herd” of vaccinated children, they often don’t feel an obligation to vaccinate their own offspring.
One can be sympathetic to parents with religious beliefs, or parents who simply hate seeing their babies being stuck with needles, and still justifiably point out to those parents that their “principles” come at the expense of other people’s potential inconvenience, expense and, possibly, suffering.
If those parents lived in a very different country that didn’t provide safety in the herd – or, in the case of Sen. Tillis, didn’t provide for basic sanitation – they’d probably feel quite differently about imposed health regulations.
Certainly comparing healthcare policy to education is not a false equivalency. The two policy arenas are strongly interrelated. The positive correlation between numbers of years of education to healthcare outcomes is well documented.
Further, parents clustered around schools often may share the same information and attitudes, which also can affect health outcomes.
In the case of the recent measles outbreak in California, University of Maryland sociologist Philip N. Cohen took numbers initially crunched by Duke University sociology professor Kieran Healy and found, “Runaway vaccine exemptions are problems of the private and charter schools … The average charter school kindergartner goes to school with classmates almost five times more likely to be non-vaccinated; and charter school kids are more than 3-times as likely to be in class with 5 percent or more kids exempt.”
As Cohen revealed, charter schools he examined have “fewer kids eligible for free-lunch than regular public schools (43 percent versus 55 percent). … Rich charter schools on average have the highest [vaccine] exemption rates, while poor schools – charter or not – are heavily clustered around zero.”
Cohen concluded, “Because they are more parent-driven, or targeted at certain types of parents, charter schools are more ideologically homogeneous. And because anti-vaccine ideology is concentrated among richer parents, charter schools provide them with a fertile breeding ground in which to generate and transmit anti-vaccine ideas.” (H/T Ron Wile.)
Better Than Choice: A Guarantee
Tillis Rule notwithstanding, most people understand that public health policy should be guided not by desires to maximize personal choice but by the need to guarantee public safety and wellbeing. That guarantee, rather than the maximization of choice, is what makes it possible to have the freedom to conduct commerce, live and work safely in our communities, and move about freely in society.
Why should that guarantee we insist on for public health be any different from what we insist on for public education?
Instead, with today’s school choice crowd, children’s guaranteed access to high-quality public education appears to be no longer the goal – either by policy or practice.
Under the Tillis Rule, it’s assumed some schools will be allowed to remain lousy at least for some substantial period of time (how long is anyone’s guess), while “the money follows the child,” “people vote with their feet” and “the market works.”
Any negative consequences to those students and families unlucky or unfortunate enough to be stuck in the not-so-good schools – after all, it’s impossible for every family to get into the “best school” – seem to not matter one whit.
And that’s really sick.
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The Tragedy of Janet Yellen
In December 2012, a new Federal Reserve governor and unseasoned monetary policymaker, Jerome Powell, told his...
In December 2012, a new Federal Reserve governor and unseasoned monetary policymaker, Jerome Powell, told his colleagues that the risks of continued stimulus likely outweighed the benefits. Vice Chair Janet Yellen, even then one of the most experienced policymakers in the Fed’s 104-year history, acknowledged the concerns but pushed back forcefully. She argued that “slow progress in moving the economy back toward full employment will not only impose immense costs on American families and the economy at large, but may also do permanent damage to the labor market.” In other words, if we don’t take risks now to get more Americans employed, the country might lose the opportunity to ever fully recover from the Great Recession. She reminded her colleagues of the promise they had made: “We communicated that we will at least keep refilling the punch bowl until the guests have all arrived, and will not remove it prematurely before the party is well under way.”
Read the full article here.
Minnesota pension board looks at private equity strategy
Minnesota pension board looks at private equity strategy
Toys R Us has not fared well in recent years. And critics, led by New York’s populist-leaning Center for Popular...
Toys R Us has not fared well in recent years. And critics, led by New York’s populist-leaning Center for Popular Democracy, accused the huge equity-investment firms of making hundreds of millions in fees and dividends on the failed retailer over the years.
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Low-Income Tenants Fight for Affordable Housing, Protest Proposed Trump Cuts
Low-Income Tenants Fight for Affordable Housing, Protest Proposed Trump Cuts
WASHINGTON – More than 700 people from 16 states rallied Wednesday at a Capitol Hill church to oppose the Trump...
WASHINGTON – More than 700 people from 16 states rallied Wednesday at a Capitol Hill church to oppose the Trump administration’s proposed $6.2 billion cut to federal housing programs.
Protesters held signs while shouting, “Housing is our right,” “Stop selling our neighborhoods to Wall Street,” and “No cuts to housing.”
Read the full article here.
22 hours ago
22 hours ago