Word: downturns
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...analysis by Goldman Sachs sounds a similarly somber tone. It suggests that the downturn is still in its incipient phase, and that job losses could surpass 2 million in 2009, with unemployment climbing to 8%. "As the economy slides into a deeper recession, it appears we are closer to the beginning of the labor market downturn than the end," wrote the study's co-author, economist Ed McKelvey. "We anticipate a sharper decline in employment in coming months." Reich also quotes 8% as a likely unemployment figure, though he notes that figure excludes job seekers who have given up searching...
Environmentalists can't decide whether to celebrate the recession or dread it. Conventional wisdom holds that the green movement will be one of the first casualties of the downturn. "The clean-tech industry is at risk because of a real lack of access to capital," says Paul Maeder, who helps oversee clean-tech investments for Highland Capital, the global venture-capital firm he co-founded. But in his next breath, Maeder explains why the current economic mess may end up being a boon to environmentalism - by forcing change. "We're in a crisis because of oil prices and climate change...
Granted, that's a tough task considering that the ongoing economic crisis - not to mention the two unending wars - will dominate the national agenda. Certain green issues, like energy, are tied into the downturn and will naturally be addressed. (Indeed, Sen. Obama - who has pledged to spend $150 billion on clean energy - has said the issue would be the first on his to-do list.) But Tercek believes the key for the new President will lie in persuading Americans that the environment is not a partisan issue...
...back in favor of need-based solutions, which would enhance accessibility. At public universities, only 44 percent of financial aid money goes to need-based programs; it is imperative that this share increase during a recession in order to make continued college attendance possible for families hit by the downturn. In addition to refocusing their financial aid programs on accessibility and affordability, colleges and universities should also examine methods of reducing the cost of tuition. Creative methods of reducing overall expenditures at an institutional level should be embraced, and schools across the country should make it clear to their students?...
...Senator Obama’s plan, on the other hand, correctly assesses that the best way to help American families is to give tax relief to the middle and lower classes, whose spending will help to stimulate the national economy during the current downturn. It is true that some Americans–those making over $250,000 a year–will see their tax rates return to those of the Clinton era, but such an increase in taxation is justifiable, since the additional revenue will be used to repair the disastrous legacies of the Bush Administration...