Julianne Malveaux on Business and Economics and Commentary

 

WHY WON"T WE BAIL WORKERS OUT ?

BY JULIANNE MALVEAUX

 

            The events of 9-11 have had a chilling effect on an already recession-prone economy.  The stock market has stalled, consumer confidence is down, and consumer spending has dropped.  The airline and hospitality industries are especially affected because these industries rely on discretionary spending.  Already, representatives from these industries are seeking federal bailouts, and Congress has provided billions in grants and loan guarantees to the airlines.  Amtrak, which is perhaps more deserving, has also asked for federal subsidies.  And Congress has decided, in the sprit of international cooperation, to pay more than $500 million in back United Nations dues.  Many economists are calling for the federal government to provide a stimulus package to protect the economy from recession.  But while Congress seems to freely provide billions for the airlines, they seem reluctant to provide help to the workers that were affected by the aftermath of the terrorist attacks on the World Trade Center and the Pentagon.

 

                Democrats want to offer $3.75 billion in financial aid; job training and health-care help for laid off aviation workers added to airline security legislation.  Republicans oppose the measure, with House Majority Leader Richard Armey (R-Texas) describing such legislation as “labor pork”.  Why is spending pork when it goes to workers but “necessary” when it goes to industry?  And why have Democrats been so tepid with the legislation they favor, which also includes measure to increase the number of weeks that people are eligible for unemployment compensation from 26 to 52?  Instead of singling out aviation workers, Congress needs to look at the range of hospitality and service workers who have been affected by the travel slowdown.  In the food and hotel service industries, many of those who have lost their jobs have been black and brown, and already concentrated at the bottom of the pay scale.

 

                It is ironic that this debate is taking place as economic statistics are being released showing that the gap between haves and have nots remains wide. Though poverty rates dropped to 11.3 percent in 2000, cuts in food stamps and cash assistance programs have made it more difficult for the poor to survive.  Indeed, poor people fell further below the poverty line than they have in the past, and the middle income did not see expected wage gains even though poverty fell.  Median incomes among African Americans and Hispanics rose to record highs ($33,400 for Hispanics, $30,400 for African Americans), but remained well below median incomes for whites.  Most importantly, though, wage gains were concentrated among high-income households.  There are dynamic opportunities for people at the top, those who are well educated and well connected.  There seem to be far fewer opportunities for those at the bottom.

 

                If the economy is rigged toward those on the top, so too is the development of public policy.  While a bailout of the aviation industry may be good for the economy, the focus on workers who have been affected by the travel industry would also stimulate the economy.  But those who oppose “giveaways” abide by a peculiar double standard that allows corporate bailouts but opposes bailouts to those who need them most – workers. For the past year, consumer spending has propped our economy.  Sometimes consumers have spent to their detriment, with the consumer debt and the number of bankruptcies increasing as people “shopped until they dropped”.  If Congress understood that two-third of our economy is based on consumer spending, they might be more likely to put a few dollars into people’s hands. Instead, they seem to be contemplating policy as foolish as a capital gains tax cut.

 

                In reaction to the crisis, people have talked about national unity and the many ways we can show it, from waving flags, to donating blood, to writing checks to relief organization.  Differences among us have been downplayed, with some noting that we are like a family that squabbles but pulls together when threatened.  When threats to the family are countered with measure that benefit only some members of the family that, too undermines family unity.  The Congressional position of bailouts is analogous to offering bread to just one or two members of a starving family and telling the others to go for self.  Such measures provoke divisiveness, not unity, even if those who were offered bread break off a crumb or two to struggling family members.

 

                All was not well in our economy before September 11, and the attacks on the World Trade Center and the Pentagon have exacerbated the economic trouble we were already in.  Before September 11, there were income differences, a racial unemployment rate gap, and too much poverty.  The goal of public policy during this tragic time ought to be to close gaps, not widen them through double standards and rank favoritism.  If we are all in this trouble together, why won’t the same Congress who voted billions for the airlines vote help workers survive these tough times?


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