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Showing blog posts tagged with austerity measures

IMF: Deficit Reduction Policies Increase Inequality

Peter Bakvis | Global Action

New research produced by the International Monetary Fund (IMF) confirms that “fiscal consolidation” (i.e., deficit reduction) policies of the sort currently applied by several European governments at the behest of the IMF and EU increase inequality and unemployment.

IMF researchers also have determined that capital account liberalization, which the IMF pressed its member countries to carry out until it changed its policy last year, has been associated with increased inequality.

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New Oxfam Report: Austerity Is Still a Dumb Idea

Celeste Drake | Global Action

In its new briefing paper,  A Cautionary Tale: The True Cost of Austerity and Inequality in Europe ,  Oxfam  compares Europe’s current austerity measures to the failed “structural adjustment” programs imposed on developing countries by the World Bank and International Monetary Fund in the 1980s and 1990s. The conclusion?  “Europe is facing a lost decade. An additional 15 [million] to 25 million people across Europe could face the prospect of living in poverty by 2025 if austerity measures continue,” says the report.

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People@Work See How America's Unions Make a Difference

GOP 'Ideas' Man Eric Cantor Offers Up Two Paths to Destroy the Economy

Kenneth Quinnell | Political Action/Legislation

Photo courtesy Gage Skidmore

House Majority Leader Eric Cantor (R-Va.) said on Sunday that Republicans would be open to restoring some of the funding lost in the job-killing sequester if new cuts to social safety net programs were put in place. In effect, Cantor is suggesting replacing one policy that hurts the economy and suppresses job growth with another policy that does the exact same thing.

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25 Ways the Sequester Causes Real Harm to Real People

Kenneth Quinnell | Political Action/Legislation

While many Republicans and conservatives have  minimized the impact  of the sequester and its effects on America's working families,  nearly 40% of people  say it has hurt them personally. Here are 25 ways the sequester is affecting people's lives, not just right now, but more and more over time.

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'Corporate Pirates of the Caribbean' Report Seeks to Widen Tax Haven Loopholes

Kenneth Quinnell | Corporate Greed

Photo courtesy IPS

A new report from the Institute for Policy Studies ( IPS ), called  Corporate Pirates of the Caribbean , details how the CEOs who make up the group Fix the Debt, a group pushing for harsh austerity measures, are set to make even higher profits off of the policies they are pursuing in the name of "balancing the budget." Fix the Debt's members are pushing for cuts to Social Security, Medicare and earned social insurance benefits, while seeking to widen tax haven loopholes by creating a "territorial" tax system, which would earn them as much as $173 billion.

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Want to Know the Truth About ‘Austerity’? Ask Damon Silvers in a Tweet Chat

Mike Hall | Economy

Want to Know the Truth About ‘Austerity’? Ask Damon Silvers in a Tweet Chat

Join Damon Silvers , director of policy and special counsel for the AFL-CIO, June 5 from 3–4 p.m. EDT for a live Twitter chat that will explode the economic myths peddled by the “austerians” and offer a range of alternatives and an economic vision that will work for working families. 

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Global Gloom and Doom

William Spriggs | Economy

Global Gloom and Doom

The Organization for Economic Cooperation and Development (OECD) issued its economic outlook for the modern, democratic, industrialized economies at its annual meeting of member nation ministers. It was mostly gloom. The European members of the OECD are mired in a deep economic slump. In 2012, the European members had a drop in Gross Domestic Product (the combined value of goods and services produced) of 0.5% and is projected to have that same poor performance in 2013. Behind those numbers, however, are the lives of real people. When an economy shrinks, it means there are fewer jobs and that means growing stress on the day-to-day lives of people. Just as in the United States, the loss of job opportunities is being felt most keenly by young workers.

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Trumka: Austerity’s Valid as ‘Flat Earth’ Theory

Mike Hall | Global Action

L-R: Sharan Burrow, general secretary, International Trade Union Confederation; Trumka; and Trade Union Advisory Committee General Secretary John Evans. OECD photo.

In Paris on Tuesday, AFL-CIO President Richard Trumka warned the leaders and policymakers of the Organization for Economic Cooperation and Development (OECD) that the financial austerity measures, like those taken by European nations, destroy jobs, increase inequality and likely feed the public’s mistrust of government.

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End
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Timing points:

CheckpointElapsedRel. ElapsedMemoryRel. Memory
Script start 0.0000 sec0.0273 sec 1,284.6172 KB1,198.9531 KB
Module start 'content' 0.0273 sec0.8824 sec 2,483.5703 KB6,808.7969 KB
Module end 'content' 0.9096 sec2.0126 sec 9,292.3672 KB15,071.5234 KB
End 2.9223 sec  24,363.8906 KB 
Total runtime:2.9280 sec
Peak memory usage:26,145.0469 KB

Time accumulators:

 Accumulator Elapsed Percent Count Average
ini_load
Load cache0.0088 sec0.2985%340.0003 sec
Find INI Files0.0002 sec0.0077%60.0000 sec
Mysql Total
Mysqli_queries1.9540 sec66.5758%12560.0016 sec
Looping result0.0327 sec1.1149%12400.0000 sec
TS translator
TS init0.0020 sec0.0696%40.0005 sec
TS cache load0.0010 sec0.0327%40.0002 sec
TS context load0.0007 sec0.0226%40.0002 sec
Template Total2.8573 sec 97.4% 3 0.9524 sec
Template load0.0069 sec0.2367%30.0023 sec
Template processing2.8502 sec97.1119%30.9501 sec
Template load and register function0.0001 sec0.0044%10.0001 sec
states
state_id_array0.0929 sec3.1638%870.0011 sec
state_identifier_array0.1312 sec4.4700%980.0013 sec
override
Cache load0.0080 sec0.2728%1420.0001 sec
class_abstraction
Instantiating content class attribute0.0021 sec0.0711%550.0000 sec
Sytem overhead
Fetch class attribute can translate value0.0027 sec0.0919%220.0001 sec
Fetch class attribute name0.0109 sec0.3716%430.0003 sec
XML
Image XML parsing0.0176 sec0.5980%220.0008 sec
General
String conversion0.0000 sec0.0006%30.0000 sec
dbfile0.0038 sec0.1284%1160.0000 sec
Total script time:2.9350 sec