- On Capitol Hill
- On Wall Street
- In the Press
- Policy Reform Work
Our projects are designed to empower policy makers to create positive change. With a focus on collaboration and outreach, we provide original, standards-based research on key policy issues.
SCEPA joined with the Economic Policy Institute on Capitol Hill to brief congressional staff and policy experts on tax expenditures, or incentives given through the tax code without scrutiny by Congress.
SCEPA economists are working on the prospects for a more progressive economic order to emerge from the shock of the recession. They have published papers and documents that place current events in a longer-term context as well as policy proposals to deal with short-term concerns. They are also documenting the emerging discussion of how the discipline of economics is reacting to the Great Recession and the questioning of conventional economic analysis.
Lance Taylor, a SCEPA Faculty Fellow, presents an overview of his new book, Maynard’s Revenge, in a Google Tech Talk.
The book, published this November by Harvard University Press, is a timely analysis of mainstream macroeconomics, posing the need for a more useful and realistic economic analysis that can provide a better understanding of the ongoing global financial and economic crisis.
The government spends $143 billion through tax breaks in an effort to expand pension coverage and security. Yet, over half of the American workforce does not have a pension. Retirement insecurity hurts business plans, workers’ lives and retiree well-being. Reform is needed.
SCEPA’s Guaranteeing Retirement Income Project, sponsored by the Rockefeller Foundation and in collaboration with Demos and the Economic Policy Institute, has a plan to guarantee safe and secure retirement income for all Americans.
by Rick McGahey, SCEPA Faculty Fellow
This morning's report on October employment confirms two things. First, the economy is stuck, teetering on the edge of an actual downturn. Second, Barack Obama's presidency is in serious trouble.
The employment report shows more stagnation in the U.S. economy. The unemployment rate moved marginally downwards from 9.1 to 9 percent. And payroll employment increased by a net of 80,000 jobs, the lowest increase in four months. Private employment rose by 104,000, but governments at all levels lost 24,000 jobs, as the federal stimulus winds down, and state and local governments continue laying people off in the face of their continuing fiscal crisis.
Average monthly job growth in the third quarter was only 96,000, well below the first quarter's monthly average of 166,000 additional jobs. Earlier this week, the Federal Reserve underscored the continued slowing of the economy, downgrading their economic and employment forecast for 2012, predicting a GDP growth rate of between 2.5 and 2.9 percent, which is 0.8 percent lower than their last forecast, issued in June. The Fed expects unemployment to drop very slowly, and not get down to 8 percent for another two years.
On November 3, 2011, Reuters correspondent Tom Brown quoted SCEPA director Teresa Ghilarducci in his article entitled "Retirement Crisis Closes in on Baby Boomers." In the piece he breaks down why 66 percent of Americans ranked not having enough money for retirement as their top financial concern, why more and more older workers are postponing retirement plans, or giving up on them completely, and why the American Dream has been increasingly difficult for older Americans to hold on to.
A new report released by Demos and The Young Invincibles, whose authors include former SCEPA research assistant Catherine Ruetschlin and SCEPA collaborator Robert Hiltonsmith, goes through several reasons why young Americans are finding it more difficult than a generation ago to work or educate their way into the middle class.
"The State of Young America: Economic Barriers to the American Dream" report details there are reasons to worry about the future of the country. Compared to the generation coming of age three decades ago, many young people today earn lower wages, but must pay more for health care, child care, and housing. Even as higher education is more important than ever to economic success, the price of a degree continues to soar beyond the reach of millions. Young people today have a solid grasp of the situation they face. They know that education is key to success and they strongly value hard work. Yet they hold no illusions about the challenges ahead.