In 2008, with the global financial crisis at its peak and the world teetering on the brink of a second Great Depression, world leaders and policymakers took decisive fiscal and monetary policy actions that bolstered our economies and stopped our financial system from spiraling into chaos and dragging our economies into depression.
But today, AFL-CIO President Richard Trumka told the “Trans-Atlantic Agenda for Shared Prosperity” economic summit:
Our work is far from done, and no progress has been easy. We have had to battle those who wanted to block the fiscal stimulus, which was so critical for halting our economic slide. And we are still battling those same opponents who now want to impose strict fiscal austerity that threatens to sabotage our economy and trigger a new recession, as those same policies have in Europe.
Nations should create jobs and stimulate growth, not cut back government spending with ruthless "austerity" measures if they want to successfully get out of the economic crisis, said AFL-CIO President Richard Trumka during a meeting of global leaders.
The growing gap between the rich and the rest of us is not just a problem in the United States. Over the past two decades income inequality has soared around the world. But a new report from the Organization for Economic Cooperation and Development (OCED) says if nations make the right policy decisions, income inequality is not inevitable and can be reversed.
The French-based sugar and starch maker Roquette Frères opened its production plant in Keokuk, Iowa, 20 years ago, and its promise to create high-quality jobs was a key factor in winning support from local workers and local and state governments. Over the years, the firm has enjoyed tens of millions of dollars in tax benefits and other financial help.