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Weekly Round Up

Catch Up on the Week at CAP: February 2 - 6, 2009

Find out what happened this week at CAP: analysis of the economic recovery package and the labor market, a new report on credit cards, and information on health reform.

ECONOMIC RECOVERY

Reversing the Downward Economic Spiral

CAP continued its analysis of the American Recovery and Reinvestment Act, which the Senate debated this week and is expected to pass this weekend. Andrew Jakabovics wrote about four principles to adhere to when rescuing the U.S. financial system. Michael Ettlinger explained the recovery package in a short video and debunked the validity of the Net Operating Loss corporate tax break. Will Straw and Josh Picker released an interactive map showing how the United States is lagging behind the rest of the world in addressing the economic crisis. And Raegen Miller explained why support for education is integral to recovery.

unemployment lineLABOR MARKET

Job Losses Accelerate

New employment data released today only underscored the need for fast action on economic recovery focused on job creation. Heather Boushey provided analysis of the numbers, which showed that 598,000 more American lost their jobs in January, and the unemployment rate rose to 7.6 percent. This follows state-by-state data from last week showing that job losses increased in a majority of states.

man with prescriptions

HEALTH CARE

Public Coverage Programs and Health Reform

A reformed health system will likely include both public and private coverage choices. Public programs are not perfect, but current health reform proposals provide an opportunity to expand on their strengths and improve weaknesses—not to do away with them completely. Meredith King Ledford, Hilary Haycock, Peter Harbage provided a brief this week on how to build on success with public coverage.

globeENERGY

Our Role in the World Order

John Podesta spoke this week at the Sanderstølen Conference on Energy Policy about how the Obama administration can help address the world’s energy and economic crises. He told attendees that, “after a long eight years of inaction, I am optimistic that the United States will begin to address the core energy and climate challenges of our time.” The full speech is available here.

credit card CREDIT CARDS

Putting Credit Card Debt on Notice

The Unites States is in the midst of its worst recession in decades; jobs and wealth are falling at a rapid pace, driving more families into foreclosure and bankruptcy. One simple solution could help consumers manage debt by providing them the right information at the right time: text messages. Tim Westrich released a report on Wednesday at a CAP Action Fund event with Rep. Carolyn Maloney (video available). His report proposes using electronic messaging to relay important account information to consumers.

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