By one estimate, the federal government spent over $367 billion in 2005 aloneon subsidizing Americans' retirement savings and tax breaks to build upother assets like buying a home. Unfortunately, those subsidies gooverwhelmingly to those Americans who already have high-incomes; almostnone of it goes to the poorest Americans who need the most helpbuilding the financial assets that can lead to long-term economicopportunities and security.
Voter suppression is growing rapidly in America today.Over half of states now have voter ID requirements more stringent than that required for first time voters in federal elections.Several states are clamping down on voter registration drives or are considering proof of citizenship requirements.
In the largest privatization deal ever proposed in the United States, a
consortium led by Spanish company Abertis Infraestructuras offered
$12.8 billion to lease operation of the Pennsylvania Turnpike
for 75 years. The deal would allow the company to immediately hike
tolls 25 percent and then increase tolls each year thereafter up to the
rate of inflation.
Legislatorsin both Tennessee and Louisiana have heavily promoted statewide videofranchising legislation this session. Just this past week the Tennessee House approved HB 1421, the "Competitive Cable and Video Services Act," while Louisiana legislators have introduced multiple statewide franchising bills, with SB 807 having the most momentum. The common thread between each Louisiana bill is that they are all bad for consumers.
Not surprisingly, the Bush Administration's proposal for fixing the subprime lending crisis is an industry-led deal that involves completely voluntary actions to fix the current crisis and will ultimately help only a few of the millions of people who have either lost or are in danger of losing their homes. With absolute failure at the federal level, it is again up to states to step in. In two recent editorialpieces, the executive directors of the Progressive States Network and the Drum Major Institute called on New York Governor Spitzer to impose a six-month moratorium on foreclosures to stop the rapidly increasing rate of home loss, a policy all governors should enact. A moratorium would give lenders incentive to restructure loans on fair terms and fight back against the Wall-street backed predatory lenders.
The U.N. Intergovernmental Panel on Climate Change (IPCC), which shared this
year's Nobel Peace Prize with Al
Gore, recently released a
report detailing the negative environmental changes that will result from
climate change, including higher temperatures leading to increased deaths
from more severe heat waves, increased incidence of infectious
diseases, and severe damage to ecosystems. The IPCC report
warned that there were only eight years left to act to prevent the
worst effects of global warming.
The effects of the sub-prime lending disaster are
being felt as the stock market has been rocked in
recent weeks and many families find themselves locked out of the
mortgage market. As we
in the past, the subprime mortgage market was largely aimed at
economically-strapped families trying to find some way to afford
homes. For low-income renters who never had the money to
even be in the game, rising rents have increasingly priced them
out of their homes.
With a raucus
session that ended with Texas state House legislators trying to depose the
autocratic speaker, the legislature passed a range of bills, many reversing
extreme laws passed in past sessions:
Despite real progress over the last generation in overcoming discrimination in our society, the reality is that Americans are still regularly refused employment, housing or equal treatment under the law because of their nationality or the color of their skin. The numbers highlighting this racial discrimination are stark: