News Release

The Take Back the American Dream Conference is June 18 to 20, 2012

Liz Rose — Tue, 07 Feb 2012 10:21:21 -0500

Washington, DC -- Join thousands of progressives, five months before the critical 2012 elections, to energize the movement and "Take Back the American Dream."

Robert Borosage, co-director of the Campaign for America’s Future said, “We'll plan strategic campaigns on such themes as `Jobs, Not Cuts,’ `Challenging Citizens United,’ and `Taking on the Big Banks.’”

“We'll champion `American Dream’ candidates who are fighting for the 99%,” said Roger Hickey, co-director of the Campaign for America’s Future said, “From `We are One’ in Wisconsin to `Occupy Wall Street,’ progressive movements have created a new political moment. Come to Washington with thousands of progressives as we share ideas on how to move forward and "Take Back the American Dream."

Join the Campaign for America’s Future, Rebuild the Dream, Progressive Majority and thousands of progressive activists. Save the Date: June 18-20 at the Washington Hilton and Towers in Washington, DC. Conference details to come soon: ourfuture.org/takeback.

Netroots Nation 2009 Straw Poll Results

Toby Chaudhuri — Sat, 15 Aug 2009 12:22:23 -0400

PITTSBURGH, PA. – Progressive bloggers and activists are focused on pushing comprehensive health care reform this year and overwhelmingly support Rep. Joe Sestak, D-Pa., over Sen. Arlen Specter, D-Pa., for the Pennsylvania Democratic Senate nomination, according to a straw poll at this year’s Netroots Nation convention conducted by the Campaign for America’s Future and Democracy Corps.

Sixty percent of respondents said overhauling the nation’s health care system is one of their top two priorities. Fifty-three percent said they will not support a health care bill that does not include a public insurance option. Passing clean energy and environmental protection measures came in second with 22 percent.

President Clinton, former Gov. Howard Dean and White House senior advisor Valerie Jarrett all spoke this week at this year’s convention, which attracted more than 1,500 progressive bloggers and activists. Sen. Specter and Rep. Sestak both addressed the convention on Friday. Sen. Specter, who did not support a public health insurance option before, told the audience he supports it now.

In a match-up between the two candidates vying for the Pennsylvania Democratic Senate nomination, neither candidate reached 50 percent. A third remained undecided while 48 percent choose Rep. Sestak and 10 percent choose Sen. Specter. Rep Sestak was viewed more positively with a favorability rating of 46 compared to 15 for Sen. Specter.

President Obama received a 95 percent approval rating among the group. Not surprisingly, Sarah Palin was extremely unpopular with participants. Only 1 percent of attendees rated Palin favorably while 88 percent rated her unfavorably. Thirty-six percent rated Palin as the easiest Republican presidential nominee to defeat in 2012, followed by former Sen. Rick Santorum, R-Pa., who was rated as easiest to beat by 20 percent, and Gov. Bobby Jindal, R-La., who was the choice of 12 percent.

This year’s convention marked the second year that Campaign for America’s Future and Democracy Corps conducted a straw poll at the Netroots Nation bloggers convention. More than 250 attendees participated in this year’s straw poll between Thursday, Aug. 13 and Friday, Aug. 14.

# # #

**NOTE: An electronic copy of the straw poll results are available online at http://www.ourfuture.org/fact-sheets-briefs/2009083314/netroots-nation-straw-poll-health-care-no-1-issue.**

THOUSANDS OF PROGRESSIVE BLOGGERS, ACTIVISTS TO GATHER IN STEELTOWN FOR “NETROOTS NATION” CONVENTION

Toby Chaudhuri — Wed, 12 Aug 2009 14:50:55 -0400

**Netroots Nation to Feature Straw Poll, Steel Plant Tour, Pirates Stadium Party**

PITTSBURGH, PA. – With more than 1,500 progressive bloggers and activists streaming into Pittsburgh this week, Sen. Bob Casey, D-Pa., joined United Steelworkers president Leo Gerard, Campaign for America’s Future co-director Robert Borosage and Netroots Nation spokesperson Mary Rickles on a conference call today to set the scene and preview this year’s “Netroots Nation” convention.

In addition to major addresses from President Bill Clinton, Gov. Howard Dean, White House senior advisor Valerie Jarrett and a match-up between Sen. Arlen Specter, D-Pa., and Rep. Joe Sestak, D-Pa., the gathering will feature several activities sponsored by the Campaign for America’s Future, including a straw poll, a tour of a modern steel plant and a party with batting practice at Pirates Stadium.

National and international attention is turning to Pittsburgh with the arrival of the Netroots Nation convention, followed next month by the AFL-CIO annual conference and the G-20 Summit. Attention is also turning towards the city’s struggle to forge new jobs in an economy where millions have disappeared.

Pittsburgh’s economic revival is due to a high degree of collaboration between industry, labor and government, according to a new report by the Campaign for America’s Future. The report explains how Pittsburgh is an example of a city that has made the transition from the old to the new economy, citing lessons for the nation.

Sen. Casey, who welcomed delegates to the city for the major gatherings on today’s conference call, said that a specifically designed industrial policy brought Pittsburgh back, not market forces, citing the Campaign for America’s Future’s report.

“Pittsburgh faced challenges as early as the 1950s, but by the 1970s it was losing tens of thousands of jobs,” said Sen. Casey “Pittsburgh had to transition out of that to the economy we have today, which includes a new manufacturing base that is unheralded in the nation. This recovery was the result of deliberate planning. You have to have government leadership but you also have to have corporate leadership and industrial leadership that's willing to work together to give meaning to words like ‘collaboration’ and ‘strategic planning.’”

Gerard, who along with Borosage is setting up this week’s steel mill tour for bloggers and reporters, said that the manufacturing sector in Pittsburgh, which pays much higher than its service counterparts, is defining a national model.

“I take issue with the term Rust Belt. There is no rust,” said Gerard. “The modern steel mill is a very high-tech and space-aged facility. They release a small fraction, less than one-third, of the carbon that a steel mill in China lets loose. Some say we can forget about manufacturing and move to a services economy, but a service economy won't produce good-paying jobs.”

# # #

**NOTE: An electronic copy of the Campaign for America’s Future’s report on Pittsburgh is available online at http://makingitinamerica.org .**

“NETROOTS NATION”
CONVENTION HIGHLIGHTS

THURSDAY, AUG. 13

10:30 a.m. - Bloggers and labor leaders discuss how to hold Wall Street accountable together.

12 p.m. - Bloggers and media representatives tour a modern steel plant.

8 p.m. - President Bill Clinton delivers remarks to thousands of bloggers and activists.

FRIDAY, AUG. 14

9 a.m. - Gov. Howard Dean holds a health care town hall meeting with bloggers.

11 a.m. - Sen. Arlen Specter, D-Pa., and Rep. Joe Sestak, D-Pa., debate key issues.

7 p.m. - Bloggers and activists hold a party and batting practice at Pirates stadium.

SATURDAY, AUG. 15

Straw poll results will be released on Saturday morning.

9 a.m. - White House senior advisor Valerie Jarrett has a conversation with bloggers.

**NOTE: An updated and detailed agenda is available online at http://www.netrootsnation.org/agenda. Media representatives interested in covering the “Netroots Nation” blogger convention, should pre-credential by emailing their name, outlet and phone number to Mary Rickles at mary@netrootsnation.org. Reporters and bloggers interested in participating in the steel plant tour should contact Mike Elk at melk@ourfuture.org and 412-613-8423.**

“AMERICA’S FUTURE NOW” STRAW POLL: PROGRESSIVES SEE HEALTH CARE REFORM WITH PUBLIC OPTION AS TOP PRIORITY

Toby Chaudhuri — Wed, 03 Jun 2009 14:08:12 -0400

WASHINGTON – Progressives gathered at this week’s “America’s Future Now” conference found a lot to like in President Obama’s first 100 days, but they are very focused on health care reform as their highest priority, according to a straw poll of participants conducted by Greenberg Quinlan Rosner Research for the Campaign for America’s Future and Democracy Corps. Pollster Stan Greenberg joined Campaign for America’s Future co-director Robert Borosage at the closing session of the three-day conference today to release the poll results.

Forty-three percent of conference-goers said health care reform should be the president’s top priority, with all the other issue responses in the teens or lower. And while participants strongly support the president and his priorities, 63 percent said they will not support a health care plan without a public health insurance option, even if that is the only way to get the plan passed.

Fixing the nation’s broken health care system is the focus of an $82 million push by progressive groups announced earlier this week at the “America’s Future Now” conference. The combined effort is the largest national progressive issue campaign in history, one that was lacking when President Clinton’s health care proposals were defeated by the health care industry and conservative groups 15 years ago.

The straw poll also showed that while two thirds of conference attendees -- 66 percent -- favor congressional investigations into how the Bush Administration handled terrorist suspects, an even stronger majority -- 81 percent -- would like to see Congress investigate the fraud and excesses of Wall Street that led to the financial crisis.

Not surprisingly, Rush Limbaugh is incredibly unpopular with “America’s Future Now” conference participants. Greenberg said Limbaugh’s favorability rating -- with only 3 percent of participants rating him favorably -- represents the lowest personal rating of any poll he has conducted.

The straw poll also surveyed the popularity of key media figures. Jon Stewart bested Stephen Colbert in the favorability battery, with 83 percent of attendees rating Stewart favorably compared to 79 percent who did so for Colbert. Rachel Maddow was viewed more favorably than Keith Olbermann, with 70 and 68 percent rating Maddow and Olbermann warmly respectively.

# # #

**NOTE: Media representatives interested in detailed straw poll results should visit www.ourfuture.org or www.democracycorps.com. Slides are available upon request. **

PROGRESSIVE GROUPS TO SPEND MORE THAN $82 MILLION TO ENSURE REAL HEALTH CARE REFORM PASSES THIS YEAR

Toby Chaudhuri — Tue, 02 Jun 2009 14:14:14 -0400

WASHINGTON – Progressive groups are poised to spend more than $82 million to support President Obama's goal of achieving quality, affordable health care for all this year, according to leaders gathered today at the “America’s Future Now” conference in Washington.

Participants in the effort include the Health Care for America Now campaign; the two main labor federations, the AFL-CIO and Change To Win; as well as MoveOn.org, Democracy for America and mobilization groups representing people of color, women and young people. The various organizations serve different functions, with the bulk of the spending financing advertising and grassroots organizing on- and off-line across the country.

The collective effort involves the more than 1,000 organizations that are part of Health Care for America Now, representing over 30 million members committed to winning a guarantee of quality, affordable health care for all this year. It is the largest national progressive issue campaign in history, one that was lacking when President Clinton’s health care proposals were defeated by the health care industry and conservative groups more than a decade ago.

Gov. Howard Dean, who recently became chairman of the board of the Progressive Book Club, joined organizers to announce details on Monday at a news conference sponsored by the Campaign for America’s Future. Gov. Dean said the progress made over the last several years and the election of President Obama are just the beginning.

“Over the past few years, we have worked together to build a progressive infrastructure and a movement that helped to elect President Obama and begin to undo the damage of the last eight years. But it was just the beginning,” said Gov. Dean. “As the health care reform debate makes clear, America needs a strong progressive movement, now is not the time to become complacent.”

Campaign for America’s Future co-director Robert Borosage said that while conservatives are increasingly splintered and isolated, progressive groups are coordinating their efforts and mobilizing independently to fight special interests standing in the way of President Obama’s bold agenda.

“While the conservative coalition has collapsed, progressives have continued to build and expand,” said Borosage. “We are both more unified and better mobilized than ever.”

Health Care for America Now national campaign manager Richard Kirsch said his coalition launched last summer across the country with the notion that 2009 was going to be the year the nation could finally achieve quality, affordable health care for all.

“We knew we couldn't win health care reform in 2008, but we knew we could lose it if we didn't lay the groundwork for the very moment we're in right now,” said Kirsch. “We have the momentum for real change, and with the commitment of the president and Democratic leadership in Congress, we know we can be stronger and louder than the special interests who make money off the status quo and would have any reform continue to put their profits before people's health.”

The effort comes at a time when Americans hold progressive positions on an increasingly broad range of controversial issues, according to a recent study from the Pew Research Center. Also, key constituencies that favor progressives are growing larger, according to a report released last week by the Campaign for America’s Future and Media Matters for America. As a result, progressives are seizing their greatest opportunity for change in a generation.

Change to Win chair Anna Burger introduced results from a new survey conducted by pollster Celinda Lake at today's news conference. The poll conducted for Change to Win shows that working people want government to invest in health care, good jobs and educational opportunity.

Burger said that most Americans blame corporate greed and its stranglehold on government for the decline of the American Dream. Working Americans reject the right-wing view and want positive government action on renewing the American Dream.

"Working Americans are looking for economic security, including jobs that pay a living wage, a secure retirement and opportunity for the next generation to succeed," said Burger.

"Comprehensive health care reform lies at the heart of the American Dream, and without it, the Dream is unobtainable. We're organizing on all fronts to make this a dream a reality for all of America's workers."

# # #

ECONOMISTS, LABOR LEADERS: ECONOMY NEEDS SUBSTANTIAL, STRATEGIC, SUSTAINED $900B OR MORE BOOST OVER TWO YEARS

Toby Chaudhuri — Tue, 09 Dec 2008 15:23:37 -0500

WASHINGTON – The economy needs at least a $900 billion boost over the next two years, according to a detailed economic recovery plan released today by more than a hundred economists and dozens of labor and public interest leaders who represent more than 20 million Americans.

With payrolls plunging, retail sales dropping and manufacturing contracting, the Campaign for America’s Future today released a statement signed by 127 economists, 27 major labor leaders and 59 public interest organizations, outlining a “substantial, strategic, and sustained” program for economic recovery. The statement, released on a conference call with reporters today, calls for a floor of $450 billion a year for the next two years. Given the severity of the recent financial crisis, they argue that $450 billion a year over two years should be considered the “floor” of any plan.

The plan stresses that investments be made in areas vital to the economy – in energy efficiency and renewable energy, in modernizing our collapsing infrastructure and in expanding pre-kindergarten and college affordability. It urges aid to states and localities to avoid devastating layoffs, and assistance to the low wage workers most impacted by the downturn.

Campaign for America’s Future co-director Robert Borosage said these investments should be made as soon as possible and not only continue for two years, but be sustained with needed investments afterwards.

“Congress must know by now that the time for delay, for half-measures, for one-off rebates is over. We need a substantial, strategic and sustained plan to get this economy going,” said Borosage. “President Obama has the moment, the mandate, and the majority to drive fundamental reform over this next period. It is vital that citizen leaders not sit by passively, but help define the course and clear the way.”

University of Texas professor and economist James Galbraith joined Borosage on today’s call. Galbraith said these investments will have a greater return on investment in generating jobs and growth than tax cuts, and should be the centerpiece of a strategic recovery plan.

“Economic recovery in an existential crisis like this means actually building a new economy,” said Galbraith. “For that, we need investment—to restore our roads, rails, transit, broadband, and water systems, to build parks and museums and libraries, to protect the environment.”

United Steelworkers president and AFL-CIO executive council chair Leo Gerard also joined Borosage on today’s call. Gerard said signers of today’s statement will mobilize a major educational effort to encourage Congress to act rapidly to create a plan ready for President-elect Barack Obama to sign on day one, noting that “substantial action to get the real economy going is long overdue.”

# # #

**For a copy and summary of today’s economic statement and a complete list of signers, please visit http://ourfuture.org/mainstreetrecovery .**

MAIN STREET ECONOMIC RECOVERY PLAN
http://ourfuture.org/mainstreetrecovery

Breakdown of the investments outlined in the economic plan (investment area -- first year, second year. Figures in billions):

--Green investments -- 50, 50
--Infrastructure -- 75, 150
--Aid to states -- 50, 75
--Education -- 40, 40
--Research and development -- 5, 10
--Health care -- 15, 55
--Unemployment insurance and COBRA subsidy -- 15, 15
--Food stamps -- 15, 15
--Poverty reduction -- 40, 40
--Middle-class tax cut -- 145, -
--Total over two years -- 900

More than 127 economists, 27 major labor leaders and 59 public interest organizations signed the Campaign for America’s Future’s economic plan. Signers include:

--John Sweeney, president, AFL-CIO
--Andrew Stern, president, SEIU
--Gerald McEntee, international president, AFSCME
--Anna Burger, chair, Change to Win
--Ron Gettelfinger, president, UAW
--Dennis van Roekel, president, NEA
--Leo Gerard, international president, USW
--Mike Wessell, senior advisor, Alliance for American Manufacturing
--Robert Borosage, co-director, Campaign for America's Future
--David Bonior, chair, American Rights at Work
--James Galbraith, economist
--Robert Johnson, economist
--Heidi Hartmann, President, Institute for Women’s Policy Research
--Jane D'Arista, Financial Markets Center
--Robert Kuttner, co-editor, The American Prospect and Demos senior fellow
--Julie Matthaei, Professor of Economics, Wellesley College
--Jeff Faux, economist, Economic Policy Institute
--Dean Baker, economist, Center for Economic and Policy Research
--Carl Pope, director, Sierra Club

ECONOMIC CRISIS MAKES “RUBINOMICS” IRRELEVANT

Jennifer Ettinger — Mon, 24 Nov 2008 00:00:00 -0500

WASHINGTON – Responding to concerns that President-elect Obama’s new economic leadership team is dominated by people who played a role in creating the current crisis, Campaign for America’s Future co-director Robert Borosage said that deepening economic emergency makes “Rubinomics” irrelevant. Borosage said that today’s announcement is a key step toward enacting a bold economic recovery plan.

Many progressives are concerned that the president-elect’s economic team is dominated by allies of former Treasury Secretary Robert Rubin, who opposed the regulation of derivatives and other measures blamed for the economic crisis. Rubin is senior counselor and director of Citigroup Inc., which has just received a $20 billion cash infusion and hundreds of billions of dollars in loan guarantees from taxpayers.

STATEMENT OF ROBERT BOROSAGE
It's not the personnel, it's the policy. And on this, Obama has been clear. He's announced a massive recovery plan based on putting people to work with public investment in areas vital to our future.

The crisis we face makes Rubinomics irrelevant. Deficit spending must go up, finance must be re-regulated, trade imbalances must be reduced and manufacturing can no longer be scorned.

Obama is choosing experienced hands for the crisis, trusting that their experience does not impede the new thinking needed to get us out of this hole. He'll set the direction. And so far, he’s on course.

# # #

**NOTE: To schedule an interview with Borosage, please contact Jennifer Ettinger at jettinger@ourfuture.org or 202-587-1614.**

CONGRESSIONAL ELECTIONS DELIVER A PROGRESSIVE MANDATE

Toby Chaudhuri — Wed, 05 Nov 2008 00:00:00 -0500

WASHINGTON – Twenty-six out of the 29 Democratic candidates who won seats previously held by Republicans in the House and Senate championed bold progressive economic positions, according to a new report released today by the Campaign for America’s Future. The report shows that these progressive candidates’ victories represent a swing to the left of 34 votes in the House and 10 in the Senate, reflecting a clear mandate for progressive change.

Sen. Sherrod Brown, D-Ohio, Rep. Donna Edwards, D-Md., newly elected Rep.-Elect Chellie Pingree, D-Maine, and AFL-CIO political director Karen Ackerman joined Campaign for America’s Future co-director Robert Borosage on a conference call with reporters today to discuss the report’s findings.

“This was not simply a change election. It was a sea-change election that marks the end of the conservative era that has dominated our politics over the past three decades.” said Borosage. “Democrats won because they campaigned as progressives, not as moderates or conservatives. On core economic issues, voters gave these legislators a mandate for reform.”

Sen. Brown said candidates that won last night were unified around a common set of bold progressive themes.

“This election ushered in the next progressive era for our nation,” said Sen. Brown. “From health care to trade to education, progressive values will now be the priority in Washington. It’s time to get to work.”

Rep. Edwards, who easily won re-election last night, campaigned with several candidates in close races across the country. Rep. Edwards said the candidates she campaigned with embraced bold progressive positions on every major economic issue.

“Candidates across the country ran and won on a bold progressive agenda,” said Edwards. “Now our challenge is to govern on the progressive agenda – including smart investment in jobs, in infrastructure, in health care and energy, and bringing a safe and responsible end to the war in Iraq. It’s an exciting time and I am confident that we will be able to set priorities to deliver the bold solutions Americans expect.”

Rep.-Elect Pingree, who became the first woman to represent Maine’s first Congressional District after leading Republican Charlie Summers in late results, said voters in her district were yearning for bold progressive change.

“This is day one of the change that we so desperately need in this country,” said Rep.-Elect Pingree.

To distinguish progressive candidates from conservatives and moderates, the CAF report compared the positions of the candidates on six major economic issues, including health care, workers’ rights, tax policy, trade, Social Security and clean energy. Out of the 29 Democrats who won House and Senate seats previously held by Republicans, 21 House candidates and 5 Senate candidates supported the progressive position on at least five out of the six issues. Only three of the winning candidates chose to run on a more conservative platform.

# # #

**NOTE: An electronic copy of the post-election report is available at www.ourfuture.org/progressive-mandate-2008.**

PROGRESSIVE ISSUE POSITIONS OF DEMOCRATS WHO WON
SEATS PREVIOUSLY HELD BY REPUBLICANS

--Sen.-Elect Mark Udall, D-Colo.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Sen.-Elect Jeanne Shaheen, D-N.H.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Sen.-Elect Tom Udall, D-N.M.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Sen.-Elect Kay Hagan, D-N.C.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Sen.-Elect Mark Warner, D-Va.: health care, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Bobby Bright, D-Ala.: trade, Soc. Sec.
--Rep.-Elect Ann Kirkpatrick, D-Ariz.: health care, trade, energy, worker rights, Soc. Sec.
--Rep.-Elect Betsy Markey, D-Colo.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Jim Hines, D-Conn.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Alan Grayson, D-Fla.: health care, trade, energy, worker rights, taxes,
--Rep.-Elect Suzanne Kosmas, D-Fla.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Walt Minnick, D-Idaho: health care, trade, energy, worker rights,
--Rep.-Elect Debbie Halvorson, D-Ill.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Frank Kratovil, D-Md.: health care, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Mark Schauer, D-Mich.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Gary Peters, D-Mich.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Dina Titus, D-Nev.: health care, trade, energy, worker rights, Soc. Sec.
--Rep.-Elect John Adler, D-N.J.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Martin Heinrich, D-N.M.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Harry Teague, D-N.M.: health care, trade, energy, worker rights, Soc. Sec.
--Rep.-Elect Michael McMahon, D-N.Y.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Dan Maffei, D-N.Y.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Eric Massa, D-N.Y.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Larry Kissell, D-N.C.: trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Steve Driehaus, D-Ohio: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect John Boccieri, D-Ohio: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Kathy Dahlkemper, D-Pa.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Rep.-Elect Glenn Nye, D-Va.: health care, energy, worker rights, Soc. Sec.
--Rep.-Elect Gerry Connolly, D-Va.: health care, energy, worker rights, taxes, Soc. Sec.
--Senate candidate Al Franken, D-Minn.: health care, trade, energy, worker rights, taxes, Soc. Sec.
--Senate candidate Jeff Merkley, D-Ore.: health care, trade, energy, worker rights, taxes, Soc. Sec.

MAJOR PROGRESSIVE AND LABOR LEADERS DEMAND CONDITIONS FOR DRASTIC FINANCIAL BAILOUT

Toby Chaudhuri — Wed, 24 Sep 2008 00:00:00 -0400

WASHINGTON – Major progressive, labor and consumer rights leaders joined forces today to demand important corrections to the Bush administration’s financial rescue proposal despite warnings from the administration’s top economists who got us into this mess.

The groups, representing more than 20 million Americans, sent a letter to members of Congress today urging them to require basic conditions before agreeing to any financial bailout request. The groups also announced that hundreds of events will be held across the country on Thursday to demand conditions on the bailout.

With a groundswell of opposition forming around the Bush administration’s $700 billion bailout request, Campaign for America’s Future co-director Robert Borosage said Congress must not write President Bush a blank check for $700 billion without conditions.

“The financial crisis won’t go away on its own and doing nothing is not an option. Neither is writing a blank check for $700 billion to the same folks who got us into this mess, especially without a clear system of oversight and accountability.” said Borosage. “This is common sense. If American taxpayers are asked to bail out the financial industry, at the very least, we deserve to know how our hard-earned money will be spent.”

Representatives from top progressive and labor groups-- including the Campaign for America’s Future, AFL-CIO, SEIU, AFSCME, AFT, NEA, ACORN, Alliance for Justice, Center for American Progress and Center for Community Change -- met at an emergency closed-door meeting yesterday to develop a statement of principles for bailing the American economy out of its financial woes.

The statement urges Congress to insist on public oversight and transparency, taxpayer protections and equity, regulations to ensure this doesn’t happen again, major public investments to support the economy, increased accountability for executives and directors and aid for homeowners who were misled by predatory lenders.

More than 35 leaders signed the statement, including Borosage, AFL-CIO president John Sweeney, SEIU president Andy Stern, AFSCME president Gerald McEntee, United Steelworkers president Leo Gerard, ACORN president Maude Hurd, Center for American Progress president John Podesta, Center for Community Change president Deepak Bhargava and USAction president William McNary.

# # #<

TEXT OF LETTER
DEMANDING BAILOUT CONDITIONS

A Call for Common Sense

Every man, woman, and child in America is now being told to ante up $2,000 – an estimated $700 billion in all – to bail out Wall Street’s recklessness, or the very people who created this crisis are telling us that they will bring down our entire economy.

The Treasury Department’s proposal that the Secretary be given essentially unlimited authority to spend $700 billion to bail out any financial institution across the world is irresponsible and unacceptable.

We urge the Congress to insist on some basic conditions for any bailout.

Public Oversight. This kind of power can never be centralized in a single individual – much less one who did not even stand for election. Any funds must be controlled by an independent entity, with consumers and workers given seats on its board. Congress should be empowered to name independent monitors and to approve all board members.

Protect the Taxpayer. The Treasury bill would have taxpayers buying paper that nobody else wants at prices far above its current value. If a firm wants to auction off its toxic paper to the US Government, taxpayers should get equity in that firm equal to any amount paid in excess of the paper’s value. This will deter profitable firms from using the government as a dumpster for their toxic paper. And it will insure that if the bailout works and the firms become profitable, taxpayers, not simply bankers, benefit from the upside.

Curb the casino. This crisis was caused because sensible regulations of the banking system that worked for dozens of years were dismantled or went unenforced. No bailout can go forward without requiring the necessary regulation to insure this does not happen again. Any institution, which receives assistance, should agree to come under a microscope going forward in terms of disclosure requirements, and it should have stringent capital requirement imposed upon it.

Invest in the real economy. Ending the bankers strike is not sufficient enough to avoid the recession into which we have been driven. Major public investment in new energy and conservation, rebuilding schools and infrastructure, extending unemployment and food stamps, helping states avoid crippling cuts in police and health services – is vital to get the real economy moving and put people back to work. No bailout should proceed without being linked to support for a major public investment plan to get the economy going.

Hold CEOs and Boards of Directors Accountable. Wall Street CEOs shouldn’t be pocketing millions while taxpayers are forced to bail them out. Any firm that applies for relief must agree to cancel all stock option programs and CEOs should have stringent limits placed on their compensation until the Company has repaid all taxpayer assistance.

Aid the victims, not just the predators. Both bankers and home owners made foolish bets that home prices would keep rising. Many homeowners, however, were misled by predatory lenders into taking mortgages that they didn’t understand and couldn’t afford. It would be simply obscene to help the predators and not those that they preyed upon. No bail out of the banks should take place without measures to help people in trouble stay in their homes. Explicit provisions should ensure use of the full array of financial and legal tools available to the government to stop foreclosures and restructure home mortgage loans for ordinary Americans, including amending the bankruptcy code to allow judges to modify mortgages. Where workouts are not feasible, people should be allowed to stay in their homes as renters.

--Robert Borosage, co-director, Campaign for America’s Future
--John Sweeney, president, AFL-CIO
--Andy Stern, president, Service Employees International Union (SEIU)
--Gerald McEntee, president, Am. Fed. of State, County and Municipal Employees (AFSCME)
--Randi Weingarten, president, American Federation of Teachers (AFT)
--Larry Cohen, president, Communications Workers of America (CWA)
--Dennis Van Roekel, president, National Education Association (NEA)
--Leo Gerard, president, United Steelworkers (USW)
--Maude Hurd, national president, ACORN
--Nan Aron, president, Alliance for Justice
--Amy Issacs, national director, Americans for Democratic Action
--Kevin Zeese, executive director, Campaign for Fresh Air & Clean Politics
--John Podesta, president, Center for American Progress Action Fund
--Deepak Bhargava, president, Center for Community Change
--Deborah Weinstein, executive director, Coalition for Human Needs
--Donald Mathis, president, Community Action Partnership
--Jane Hamsher, firedoglake.com
--James D. Weill, president, Food Research & Action Center (FRAC)
--Brent Blackwelder, president, Friends of the Earth
--John Cavanagh, director, Institute for Policy Studies
--Sarita Gupta, executive director, Jobs with Justice
--Wade Henderson, president, Leadership Conference on Civil Rights
--Carissa Picard, esq., president, Military Spouses for Change
--Sally Greenberg, executive director, National Consumers League
--Christine L. Owens, executive director, National Employment Law Project
--Gary Bass, executive director, OMB Watch
--Adam Lioz, program director, Progressive Future
--Joanne Carter, executive director, RESULTS
--William McNary, president, USAction
--Paula Brantner, executive director, Workplace Fairness
--Dan Cantor, executive director, Working Families Party
--Mark Lotwis, executive director, 21st Century Democrats

NEW JOBLESS NUMBERS PUSH MISERY INDEX UP TO 11.7 PERCENT

Toby Chaudhuri — Fri, 05 Sep 2008 00:00:00 -0400

WASHINGTON -- The misery index hit the worst level since May 1991, according to a new analysis released today by the Campaign for America’s Future. New jobless numbers jumped to a 5-year high of 6.1 percent, pushing the misery index to 11.7 percent. The index hit double digits in June 2008 for the first time since 1993.

“Honest people who work hard for a living are struggling to make ends meet,” said Robert Borosage, co-director of the Campaign for America’s Future. “The misery is felt at the gas pump and the grocery store and it’s getting worse, not better.”

The misery index is a gauge of economic well-being widely used by economists for decades. It represents the sum of the unemployment and inflation rates. Since unemployment and inflation are undesirable, the lower the index, the better.

The misery index played a role in the 1980 presidential election when President Reagan reminded voters that stagflation increased it to more than 20 percent. With unemployment and inflation on the rise, the misery index is important again.

# # #

KEY ECONOMIC FIGURES

--Unemployment rate: 6.1 percent

--Inflation rate: 5.6 percent

--Misery index: 11.7 percent

[SOURCES: ftp://ftp.bls.gov/pub/suppl/empsit.cpseea1.txt; ftp://ftp.bls.gov/pub/special.requests/cpi/cpiai.txt; http://www.miseryindex.us/indexbymonth.asp]

News Release

The Take Back the American Dream Conference is June 18 to 20, 2012

**Netroots Nation 2009 Straw Poll Results**

THOUSANDS OF PROGRESSIVE BLOGGERS, ACTIVISTS TO GATHER IN STEELTOWN FOR “NETROOTS NATION” CONVENTION

“AMERICA’S FUTURE NOW” STRAW POLL: PROGRESSIVES SEE HEALTH CARE REFORM WITH PUBLIC OPTION AS TOP PRIORITY

PROGRESSIVE GROUPS TO SPEND MORE THAN $82 MILLION TO ENSURE REAL HEALTH CARE REFORM PASSES THIS YEAR

ECONOMISTS, LABOR LEADERS: ECONOMY NEEDS SUBSTANTIAL, STRATEGIC, SUSTAINED $900B OR MORE BOOST OVER TWO YEARS

ECONOMIC CRISIS MAKES “RUBINOMICS” IRRELEVANT

CONGRESSIONAL ELECTIONS DELIVER A PROGRESSIVE MANDATE

MAJOR PROGRESSIVE AND LABOR LEADERS DEMAND CONDITIONS FOR DRASTIC FINANCIAL BAILOUT

NEW JOBLESS NUMBERS PUSH MISERY INDEX UP TO 11.7 PERCENT

Netroots Nation 2009 Straw Poll Results