Alternet’s Progressive Voter Guide to the Economy

The progressive alt-press network has done a great mitzvah for us. Do check this out and make sure you are informed before voting:

The country is in a unique moment in its economic history, facing a deep, structural energy crisis, stagnant wages for most, and spiraling costs for health care, education and food.

The housing market isnt expected to hit bottom until the middle of next year, and the fallout from the housing crash now threatens the global economy — so much so that on Sept. 20, the Bush administration proposed an unprecedented bailout of many of the biggest players on Wall Street, which came on the heels of the governments multibillion-dollar rescues of Fannie Mae, Freddie Mac and AIG.

Theres now a consensus among economists that we have entered a recession. It marks the first time in the post-war era that the country has entered into a downturn before median family incomes had fully recovered from the previous recession. Over the past business cycle, poverty increased by more than 10 percent, and the number of people with employer-based health care dropped by about 8 percent.

The past year has been especially painful for Americas working majority. In August, companies payrolls shrank for the eighth consecutive month, resulting in a five-year high in unemployment.

Whoever ends up occupying the White House in January 2009 will be faced with the epic task of restoring Americans sense of economic security. What will the next president do about energy? About the mortgage meltdown? What kind of trade policies will he put into place?

via Alternet: Election Guide to the Economy


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