http://associationofyoungamericans.com/blog/index.cfm The Association of Young Americans Policy Issue of the day. en-us Thu, 09 Sep 2010 09:03:35 -0400 Thu, 07 May 2009 05:43:00 -0400 BlogCFC http://blogs.law.harvard.edu/tech/rss young_americans@hotmail.com young_americans@hotmail.com http://associationofyoungamericans.com/blog/index.cfm/2009/5/7/80-Million-Lauch-Event-in-DC-TODAY A coalition of young people have come together to lobby, support and encourage good jobs for today's young generation. On the 80 Million Strong website, they assert: "With tens of thousands of dollars in debt from student loans and credit cards, young people need jobs, yet in times like these the newly graduated are forced to compete with more experienced workers for even the most entry-level positions. We need jobs now." Their Launch event is happening today, May 7, 2009 in Washington DC. Check out their website for more details: 80 Million Strong. Activism Economy Thu, 07 May 2009 05:43:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2009/5/7/80-Million-Lauch-Event-in-DC-TODAY http://associationofyoungamericans.com/blog/index.cfm/2009/3/30/80-Million-Strong A coalition of young people have come together to lobby, support and encourage good jobs for today's young generation. On the 80 Million Strong website, they assert: "With tens of thousands of dollars in debt from student loans and credit cards, young people need jobs, yet in times like these the newly graduated are forced to compete with more experienced workers for even the most entry-level positions. We need jobs now. That's why we are:Convening a summit of young people in Washington, DC to discuss this problem and propose solutions Developing federal legislation based on the summit's recommendations Building a grassroots coalition that truly reflects and empowers the Millennial generation" You can learn more about their efforts and get involved through the 80 Million strong website. As always, we invite you to share your thoughts in our Forums on what the federal government can do to encourage growth in our economy and good jobs for young Americans. Activism Economy Mon, 30 Mar 2009 08:15:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2009/3/30/80-Million-Strong http://associationofyoungamericans.com/blog/index.cfm/2009/2/19/Stimulus-Bill-is-Law Last Friday the House and Senate approved, and this week the President signed into law, the American Recovery and Reinvestment Act. Is passed both Houses of Congress with only three Republican lawmakers voting for the Bill. The cost of the bill is $787 billion. In conjunction with the bill's passage, the White House launched a website - recovery.gov. As stated on the site "Recovery.gov will feature information on how the Act is working, tools to help you hold the government accountable, and up-to-date data on the expenditure of funds." With so much news coverage of the stimulus package details, we woudl like to hear from you as to your understanding of the law, what impact you think it will have on the economy and more broadly on our country. Share your views in our Forums or on our Facebook Cause. Budget Economy Thu, 19 Feb 2009 12:48:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2009/2/19/Stimulus-Bill-is-Law http://associationofyoungamericans.com/blog/index.cfm/2009/2/4/Capping-Executive-Pay President Obama plans to tie government bailout money to limits on executive compensation. "The Obama administration is expected to impose a cap of $500,000 for top executives at companies that receive large amounts of bailout money, according to people familiar with the plan. Executives would also be prohibited from receiving any bonuses above their base pay, except for normal stock dividends," reports the New York Times. The Wall Street Journal reports that "chief executives of such firms from receiving severance payments. And it is expected to require that firms receiving taxpayer money give shareholders more say in how top executives are compensated, according to people familiar with the administration's plans. [...] The administration's tighter restrictions won't apply to any of the existing financial-rescue programs, including Treasury's $250 billion effort to inject capital into banks."What do you think of the idea of government requiring companies that receive government assistence to limit the compensation paid to executives? Share your thoughts and ideas in the Open Forum. Economy Wed, 04 Feb 2009 08:08:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2009/2/4/Capping-Executive-Pay http://associationofyoungamericans.com/blog/index.cfm/2009/1/15/Mortgage-Foreclosures Home forclosures increased significantly in 2008, compared with 2007. "More than 2.3 million American homeowners faced foreclosure proceedings last year, an 81% increase from 2007, with the worst yet to come as consumers grapple with layoffs, shrinking investment portfolios and falling home prices," according to the Wall Street Journal. The Journal article noted, interestingly, that many of the foreclosures were in specific geographic areas of the country. "The four states with the highest foreclosure rates last year were Nevada, Florida, Arizona and California. More than 1.1 million properties in those four states received a foreclosure notice, almost half the national total. And more than one in five of those households were in California, which is coping with massive job losses in the housing and mortgage industries as well as a rapid decline in home prices."Congress is already working on the details of another economic stimulus package and the President will be releasing the remaining $350 billion from the first bailout plan. Does the fact that almost half of the foreclosures are taking place in only four states impact your thinking on the need for or extent of the national government's action? What are you looking for from President Obama in his first year to address these economic issues? Share your views in the Open Forum. Economy Thu, 15 Jan 2009 12:51:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2009/1/15/Mortgage-Foreclosures http://associationofyoungamericans.com/blog/index.cfm/2008/11/17/Bailout-of-US-Automakers Congress and the President are debating the proposed $25 Billion bailout of the 'big 3' U.S. automakers. "Senate Democrats said they would press ahead with their plan to carve out a portion of the $700 billion Wall Street bailout to pay for the loans, but aides in both parties and lobbyists tracking the plan acknowledged they did not currently have the votes to do so. The White House and congressional Republicans insist that the automaker bailout money instead come from redirecting a separate $25 billion loan program approved by Congress to help the industry develop more fuel-efficient vehicles," reports Yahoo News. President-elect Obama said in a 60 Minutes interview on sunday that "So my hope is that over the course of the next week, between the White House and Congress, the discussions are shaped around providing assistance but making sure that that assistance is conditioned on labor, management, suppliers, lenders, all of the stakeholders coming together with a plan what does a sustainable U.S. auto industry look like?" While there has been a significant focus on the type of cars and trucks the American automobile manufactures make, their financial condition is also the result of the rising cost of employee and retiree benefits. What do you think about the federal government giving $25 Billion to American car manufacturers? How about government benefits to private corporations more generally? Share your thoughts and ideas in the Forums. Budget Economy Mon, 17 Nov 2008 17:18:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2008/11/17/Bailout-of-US-Automakers http://associationofyoungamericans.com/blog/index.cfm/2008/10/13/Top-Concern-3-Jobs-and-the-Economy Economic concerns have dominated the news for the last few weeks. With financial institutions collapsing, the stock market plunging, and unemployment rising, it's not surprising Jobs and the Economy was among the top 5 concerns of young Americans in our National Issues Survey. In September "[t]he unemployment rate held steady, at 6.1 percent [...], but that was in part a reflection of the fact that more unemployed people stopped looking for work. To be counted as unemployed in the statistics, a person must be out of work and actively looking for a new job," a New York Times Article noted. "There was also a big spike in the number of people working part time because they couldn't find full-time work. More than 1.5 million people fell into this category in September, up from 400,000 a year earlier."It is important to keep in mind that economic conditions and unemployment rates vary by state. From the Bureau of Labor Statistics, here are the unemployment rates of some states across the country:Colorado: 5.4%North Carolina: 6.9%Ohio: 7.4%Pennsylvania: 5.8%Texas: 5.0%Virginia 4.6%Stock market's around the world have fallen dramatically over the last few weeks. The Dow Jones Industrial Average went from just over 14,000 on October 10, 2007, to 8,451 on October 10, 2008 - a drop of over 40% in a year. The price of oil, however, which has been rising for years, has dropped significantly over the last few months. The price of a Barrel of Oil peaked at $147 back in July, to under $80 this past week. According to the Secretary of Education, "The average private school graduate leaves college $20,000 in debt. One in 10 carries $40,000." And for those not fortunate enough to go to college, or who decide not to, the outlook is worse. As noted in the Association of Young Americans Higher Education Issue Paper: "For every dollar earned by a college graduate, someone leaving before obtaining a four-year degree earns only 67 cents." (6) The Census Bureau website shows that high school graduates aged 21-64 have a median income of $27,351. College graduates in the same age range have a median income of $42,877."High school dropouts earned an average of $19,169 and those with advanced college degrees made an average of $78,093" (7)The candidates positions on economic issues are available on their websites, the links to which are below.John McCainBarack ObamaRalph NaderBob Barr 2008 election Economy Mon, 13 Oct 2008 09:57:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2008/10/13/Top-Concern-3-Jobs-and-the-Economy http://associationofyoungamericans.com/blog/index.cfm/2008/9/29/Bailout-Agreement It appears a deal on the Wall Street Bailout agreement has been reached, with the expectation that it will be passed by Congress in the next few days. "If all goes well, U.S. taxpayers will pour billions into shaky securities, many held at tottering financial institutions. Market demand for those securities has evaporated, as financial companies now deal with the fallout from bad bets during the housing run-up that ended two years ago. The government could recoup its money, if the market stabilizes and the government eventually can find buyers," reports the USA Today. The article also noted, on the other hand, "If all doesn't go well? The government will have wasted billions of dollars at a time when the money could have been put to better use elsewhere or saved. 'This is too much money in too short a time going to too few people,' with too many questions unanswered, says Rep. Dennis Kucinich, D-Ohio."While both Presidential candidates both gave tacit approval to a bailout, they also both spoke about the need to stop deficit spending in our federal budget. Are you concerned about the amount of money our federal government borrows each year and that our National debt is over $9.4 trillion? You can learn more about it in our Deficits and Debt issue paper. Share your views in our forums. Budget Deficits and Debt Economy Mon, 29 Sep 2008 08:16:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2008/9/29/Bailout-Agreement http://associationofyoungamericans.com/blog/index.cfm/2008/9/25/Wall-Street-Bailout In the last few weeks, the news about financial institutions failing has been constant, with many officials claiming evenmore widespread economic problems if the federal government did not act. Last night, President Bush addressed the nation to discuss the situation and his $700 billion bailout proposal. "The plan would allow the government to buy up unmarketable assets, such as mortgage-backed securities, that economists say are clogging the financial system and blocking access to many types of credit. After the markets recover, the government could sell the securities to investors and recoup much of its costs. But many Democrats as well as Republicans say they want more protections for taxpayers, such as allowing the government to gain a potential equity stake in companies that participate," reports the Wall Street Journal. David Walker, former U.S. Comptroller and current president of the Peterson Foundation, in an op-ed in the Financial Times related this financial crisis to the gvernment's deficit spending and growing national debt. "Beyond the turmoil for banks and homeowners, however, there is a super-sub-prime crisis brewing in Washington. Our fiscal policies have created a disconnect between today's citizens and future taxpayers. Today's taxpayers benefit from high government spending and low taxes, while future generations are expected to pay the bill. Our real challenge is where we are headed on our do-nothing fiscal path. Washington has charged everything to the nation's credit card - engaging in tax cuts and spending increases without paying for them."How have you been impacted by this financial crisis? Has President Bush, or anyone else, sufficiently explained the situation? Share your thoughts and vies in our Open Forum. Also, you can learn more about the national debt and federal government deficits in the Association of Young Americans' Deficits and Debt issue paper. Budget Deficits and Debt Economy Thu, 25 Sep 2008 08:06:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2008/9/25/Wall-Street-Bailout http://associationofyoungamericans.com/blog/index.cfm/2008/9/10/Fanny-MaeFreddie-Mac-Bailout This Sunday the federal goverment took over the two lenders in what Yahoo News described as "one of the largest government interventions in the financial sector in history." Now Senators and both Presidential Candidates are calling for the 'retirement packages' for two former executives to be reduced. The New York Times reports that "Mr. Obama, the Democratic presidential nominee, asked that any "inappropriate windfall payments" to the chief executives and senior managers of those agencies be voided, in a letter to Treasury Secretary Henry M. Paulson Jr. and the director of the Federal Housing Finance Agency, the new regulator for Fannie and Freddie. Together, Daniel H. Mudd of Fannie Mae and Richard F. Syron of Freddie Mac are eligible for as much as $24 million in severance, retirement benefits and deferred compensation. Senator John McCain, the Republican presidential nominee, has said on the campaign trail that the government rescue of Fannie and Freddie should not turn into a bailout for their top executives and Wall Street investors."What do you think about the government bailout of the lenders? Executive 'golden parachutes? Share your thoughts in the Open Forum. Economy Gov't Reform Wed, 10 Sep 2008 08:46:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2008/9/10/Fanny-MaeFreddie-Mac-Bailout http://associationofyoungamericans.com/blog/index.cfm/2008/5/13/Young-Americans-and-Debt An interesting article in Sunday's Seattle Times chronicles the debt incurred by Americans at various life stages. It notes the tremendous amount of debt many young people incur to pay for college, along with the many expenses faced upon entering the workforce and attempting to start a life and a family. "With tight budgets and soaring living expenses, young people end up on a tightrope between paydays and too often credit cards are their only safety net," the article notes. Have you had financial difficulties as you try to pay or school, meet living expenses or start a family? Do you think there are unique circumstances in the last 10 years that have made it more difficult for young people to enter adulthood as self-supporting? Share your concerns in the Ownership Society Forum. Economy Tue, 13 May 2008 09:02:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2008/5/13/Young-Americans-and-Debt http://associationofyoungamericans.com/blog/index.cfm/2008/5/1/Gas-prices-Unemployment-claims-rise As we get closer to the summer season (when gas prices usually hit their yearly highs) prices of gasoline continue to rise. The Boston Globe reports that gas prices on nantucket rose 60 cents in one day. "The price of regular jumped 59 cents to $4.56. Super hit $4.69, an increase of 65 cents. It was the same at On Island Gas on Sparks Avenue, where regular surged 60 cents to $4.59 and premium hit $4.75, which was a 71-cent climb above Wednesday's price. [...] A statewide survey Monday by AAA Southern New England found an average price of $3.54 per gallon for self-serve, regular unleaded. The price had jumped 16 cents from a week ago, and 35 cents more than two weeks ago. That national average was $3.60." Also, today the Department of Labor released a report that "the advance figure for seasonally adjusted initial claims was 380,000, an increase of 35,000 from the previous week's revised figure of 345,000." Have you been impacted by the rise in gas prices? Have you lost a job or had difficulty finding employment? Share your experiences and concerns in the Open Forum. Addicted to Oil Economy Thu, 01 May 2008 11:38:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2008/5/1/Gas-prices-Unemployment-claims-rise http://associationofyoungamericans.com/blog/index.cfm/2008/3/24/Higher-gas-prices-impacting-your-spending With gasoline seemingly comfortable at over $3 a gallon across the nation, there are reports that Americans are taking steps to use less gas. "Across the country, people already struggling with rising food prices, weak wage growth and falling home values are finding ways to manage the soaring cost of gasoline. They're combining errands, sharing rides, eliminating pleasure trips and using public transit more. With these changes, U.S. consumers caused a remarkable 1 percent drop in gas consumption the last eight-week-period over a year ago. Gas use should be rising 1.5 percent annually just to keep up with the population. The last time a drop that length was recorded was in early 1997," reports Yahoo News in an Associated Press article. Have you changed how you get around because of higher gas prices? Is that an option where you live? Learn more in our Addicted to Oil issue paper and share your thoughts in the Forums. Addicted to Oil Economy Mon, 24 Mar 2008 08:40:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2008/3/24/Higher-gas-prices-impacting-your-spending http://associationofyoungamericans.com/blog/index.cfm/2008/2/20/Oil-over-100-a-Barrel The price of oil closed yesterday over $100 for the first time. "The price hit a new high of $100.10 a barrel before settling at $100.01 a barrel, up $4.51, when the market closed at 2:30 p.m. The price in late electronic trading dropped only slightly, to $99.99 a barrel," reports the Washington Post. Supply concerns and flat US consumption appeared related to the price increase. "The president of the Organization of the Petroleum Exporting Countries, Chakib Khelil, said last week that there was no need to boost production to dampen high prices. Instead, he and other oil ministers have suggested that OPEC might even cut output at its March 5 meeting to make sure that an economic slowdown in the United States doesn't lower prices. In addition, traders fretted that political violence in Nigeria and Iraq could disrupt exports from those nations. But with U.S. stocks of crude oil and refined products comfortably within historical ranges, and with signs that U.S. gasoline consumption has stopped growing, analysts said yesterday's jump in prices was caused by financial factors as much as supply." How have higher gas prices impacted your spending and energy use? Share your thoughts and concerns in the Forums. Learn more about energy and oil in our Addicted to Oil issue paper. Addicted to Oil Economy Middle East Wed, 20 Feb 2008 08:59:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2008/2/20/Oil-over-100-a-Barrel http://associationofyoungamericans.com/blog/index.cfm/2008/2/6/President-Bushs-2009-Budget-Unveiled Amid the news and excitement of the presidential primaries and SUper Tuesday, the President released his proposed budget to congress this week. It expects a deficit of over $400 billion dollars. "[C]ritics included GOP Sen. George V. Voinovich of Ohio, who called the budget fiscally irresponsible [and] said Bush is being fiscally dishonest in portraying his proposal as starting to erase what will be about a $400 billion federal deficit this year," reports the Columbus Dispatch. "Rival-party lawmakers criticized the proposal's push to extend tax cuts that Democrats say are too weighted toward the wealthy, while not including the full costs for the war. Bush's budget calls for spending $70 billion on war efforts when about $200 billion is expected to be needed." The White House reports that the budget includes an approximately $150 billion stimulus package to help the economy. Learn about annual budget deficits and the National Debt here on our website. Share your thoughts and concerns on the fiscal picture for our country in the Deficits and Debt Forum. Budget Deficits and Debt Economy Wed, 06 Feb 2008 17:04:00 -0400 http://associationofyoungamericans.com/blog/index.cfm/2008/2/6/President-Bushs-2009-Budget-Unveiled