There’s an Easy Way for Washington to Fend Off a Recession and Help Thousands of Americans
Date Posted: December 6, 2019
Posted In: Discussion, Workforce,
From Business Insider: It was just a decade ago that the Great Recession — the worst economic disaster since the Great Depression — upended life for hundreds of millions of Americans. More than 8 million people across the country lost their jobs. Millions more lost their homes and life savings.
The economy has made steady improvements since 2008, but recovery has disproportionately favored wealthier Americans.
Even today, wages for low- and middle-income earners remain stagnant. Our manufacturing sector — traditionally a source of good middle-class jobs and an indicator of economic health — is facing serious problems.
The gap between the absurdly wealthy and those barely getting by continues to widen. And the trend among growing app-based businesses of undermining labor laws and misclassifying workers is only exacerbating this divide.
Now, with the stock market showing signs of volatility, and experts warning that another worldwide economic downturn could be on the horizon, working families have a right to be worried.
While no one can truly predict what the markets will do or know what the future holds, there are immediate steps lawmakers can take to both buffer against fear of an economic slowdown and rebalance America’s economy in favor of working people. Chief among them: massive investments in our transportation system and infrastructure.
Building stronger infrastructure and creating better jobs
We know the needs are there. Mind-numbingly long lines at airports, soul-crushing commutes, broken buses and subway cars, and paralyzing congestion at our nation’s seaports are all symptoms of gross underinvestment.
This affliction hurts everyone from farmers and factory workers to commuters, students, and business owners, and stunts economic growth.