Town Square

Post a New Topic

Stanford panel: economy, not war on poverty, failed

Original post made on Jan 14, 2014

The U.S. economy's failure to deliver jobs has left the country with persistently high rates of poverty and income and wealth inequality, a panel of experts convened at Stanford University said Monday.

Read the full story here Web Link posted Tuesday, January 14, 2014, 9:55 AM

Comments (6)

Like this comment
Posted by Mom
a resident of Esther Clark Park
on Jan 14, 2014 at 12:12 pm

How very sad that more than 1 in 5 children live in poverty. That fact alone should break the heart of every American.

Two of the three national research centers on poverty are located in California. What does that say abut us? We want knowledge to make change? I do hope so.

Like this comment
Posted by Norm
a resident of Midtown
on Jan 14, 2014 at 12:53 pm

There are odd mind patterns at work in the "war". I recently had a decrease in my Section 8 housing assistance that raised my share of the rent. Allowances for disabiled head-of-household went, as did the one for out-of-pocket medical costs. The move was based on saving the government money. And I spend more money from my VA disability.

Very soon after, I was notified be the Cal-fresh (still commonly referred to as food stamps) folks that because of the rent change, my benefit from them would be increased to offset the change.

I cannot use the Cal-fresh allowance to pay the extra rent, utilities, or anything else. I can't buy food for anyone outside my household. I shop frugal and don't eat much. I wasn't spend my whole allowance before the raise, and I didn't think I'm going to spend the increase.

The logic of cut and spend baffles me.

Like this comment
Posted by Steve C
a resident of Menlo Park
on Jan 15, 2014 at 12:13 pm

None of this will change until we run the Reagan followers out of any public office, and not just in Washington. Everyone should pay attention to the new strategy of the these folks: take over all branches of government at the state and local level, one state at a time, funded by PACs that conceal the sources of funds and contributions. The Koch brothers are big supporters of this strategy.

Like this comment
Posted by Scott
a resident of another community
on Jan 16, 2014 at 12:09 pm

This is a rather disappointing report in that it almost seems to try to protect businesses from their share of the blame in the Economic mess we are in. The Economy, is a collection transactions, for goods and services, carried out by agents, in its simplest form. The Economy does not hire anyone, this is done by an agent, a business, government, even individuals can be agents that create jobs. So to say joblessness is a result of the economy really is letting businesses off the hook. The government is forced to borrow money to hire more people, so its should not be the primary source of new jobs. The report should have mentioned how companies have used the cheap bonds to buy back shares rather than invest in new plants or equipment, that might have created more jobs. It could discuss the profitable companies laying off thousands of workers, just in case. It could look at the cash horde that the larger companies have amassed instead doing something favorable to the economy, such as hiring a few more workers, or lowering their prices just a bit and letting their consumers have a little more to spend on other things, or even giving a raise to their employees. Stagnant wages, while prices are rising reduces what the consumer has available to spend. The decision to hold firm on wages is a business decision that has been at the root of the "bad" economy. But since companies feel no obligation to protect the Economy that allows for their success, they make all their decisions to benefit their shareholders.

This is a concept that has to change, and I believe will change over time. Businesses now spend more to protect the Environment because public pressure and the environmental laws caught up with their practices of dumping pollutants. The longer the Economy is stuck, the greater the public pressure will be on these companies to at least make token efforts to improve the economy, and if that is not enough, there will be public pressure for laws to protect or improve the economy.

Income will never be equal, there are some who do jobs that are so specialized that they will be able to command a higher wage. However, beyond wages, their can be a sense of fairness in things. I watch with disbelief as CEO's receive their yearly bonuses while the workers often receive next to nothing. Didn't all the employees contribute somewhat to the final results for the company? Shouldn't they share equitably the rewards of the companies success? I believe in these kind of things, we can send a message to the CEO's that their 500% bonus should be embarrassing when their workers get nothing. To this end, I have a petition on that calls for an increase in the tax rate on executive bonuses in excess of what the average bonus for all workers at that company. Please take a look and help me do a little towards calling attention to the issue of inequality.

Web Link

Like this comment
Posted by Perspective
a resident of Greater Miranda
on Jan 17, 2014 at 5:27 am

All I have to do to see that this report of a report is flawed is to note that the writer states that the recession has ended.

No, it hasn't. We continue to lose more jobs, more employed, than we do create jobs. That, alone, is "real", and affects all of us. The fewer of us employed, the more poverty there is, the less tax income to the State and Fed there is, the less tax-based support of poverty there is.

Simple, really.

Now, think hard about why we don't have jobs.

Like this comment
Posted by musical
a resident of Palo Verde
on Jan 17, 2014 at 6:46 am

Last I heard, we have more jobs than housing.

Sorry, but further commenting on this topic has been closed.

Burger chain Shake Shack to open in Palo Alto
By Elena Kadvany | 15 comments | 3,993 views

Eat, Surf, Love
By Laura Stec | 4 comments | 1,274 views

The Cost of Service
By Aldis Petriceks | 1 comment | 900 views

One-on-one time
By Cheryl Bac | 0 comments | 309 views