Robert Greenstein Discusses Necessity of Economic Stimulus for Low-Income Americans
Robert Greenstein, founder and executive director of the Center on Budget and Policy Priorities, spoke at the Center for American Progress on Friday, December 5 about CAP’s proposed economic recovery package. Referring to the current recession as probably the longest and deepest since World War II, Greenstein highlighted the severe unemployment crisis and its relationship to poverty. CBPP recently released a report predicting the number of people in poverty will rise by between 7.5 million and 10.3 million.
The safety net has been made very weak for the jobless. Especially given projected state government deficits of $200 billion to $250 billion, which will affect health care, education, and social services, it is crucial that the federal government act to help the increasing number of unemployed workers. He argued that unemployment insurance benefits should be extended to at least March 2009, if not longer; that there should be strong consideration of full federal funding for a temporary increase; there should be a temporary increase in Supplemental Security Income for the elderly and disabled; and that $4 billion in increased housing vouchers should be spent over the next two years to help both renters and owners who have been foreclosed on. This kind of help to low-income people, as well as being morally sound, is the most effective form of fiscal stimulus.
CAP’s report calls for a $350 billion stimulus package, including $100 billion for green jobs creation, $19 billion to boost the Food Stamps program, $7 billion for the Unemployment Insurance Modernization Act, $5 billion for neighborhood stabilization funds, $1 billion for Gulf Coast recovery, and $1 billion for the Child Care Development Block Grant.
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