Bay Area

Opinion: Billions for Boeing, Pennies for the People

Published

4 years ago

April 2, 2020

By Julianne Malveaux, NNPA Newswire Contributor

By Julianne
Malveaux,
NNPA
Newswire
Contributor

The development of the $2.2 trillion stimulus package was extremely flawed. The Republican bullies in the Senate, led by Majority Leader Mitch McConnell, wrote the bill with absolutely no Democratic input, then suggested that Democrats amend their legislation.

The first draft of the bill, unsurprisingly, was a goody grab for corporations with much less for individuals. Initially, the Republican Senate would have given Treasury Secretary Steve Mnuchin a slush fund of $500 billion to assist troubled industries with absolutely no oversight.

The last version of the bill does include both monitoring and an inspector general to look for fraud and abuse. Republicans would have doled the money out to their cronies. But the Dems, led by House Speaker Nancy Pelosi, stood their ground. The stimulus legislation is better than the 2008-2009 bailout legislation; it is gratifying to see that the Senate rose above partisanship to get this done.

Republicans even conceded that Mr. Trump, his grafter family, other cabinet heads and senior leaders, along with their families, cannot benefit from this stimulus legislation. It is unfathomable that this provision has to be put in writing, but 45, a hotel owner, pushed hard for hotels and cruise ships to get bailout benefits, but some in Congress have apparently peeped 45’s hole card.

It takes extreme hubris for our nation’s chief executive officer, who has used the United States Treasury as a piggy bank, to be as self-serving as 45 is. Good for Democrats for recognizing the pattern of double-dealings makes it clear that written prohibition of these shady practices is necessary.

Michigan Congressman Justin Amash, an independent who used to be Republican, tweeted, “This bipartisan deal is a raw deal for the people. It does far too little for those who need the most help while providing hundreds of billions in corporate welfare, massively growing government, inhibiting economic adaptation, and widening the gap between the rich and the poor.” The legislation is likely to be hundreds, if not thousands, of pages long. And it’s got lots of fine print.

For example, $17 billion in loan funds are set aside for “businesses deemed critical to maintaining national security. While Boeing isn’t mentioned by name, the Washington Post quoted a confidential source who says this money is partly set aside for Boeing.

This is the same Boeing that manufactured faulty, crashing planes. And they’ve imperiously said they will take assistance only on their terms. Some think the federal government should take an equity stake in companies that get bailout funds. Boeing’s CEO said he wasn’t interested in such a deal. If the feds wanted to play hardball, they’d force Boeing into bankruptcy, since bankruptcy doesn’t mean the cessation of operations, it means the restructuring of debt.

Meanwhile, there’s no helpful fine print for ordinary people. Sure, people will get $1200 checks, plus $500 per child. That’s better than nothing, but compared to Boeing’s billions, it’s pennies. The ability to get unemployment insurance for extra weeks will also be helpful for those who lose their jobs.

More food stamp funds will be available. But there is some confusion over whether gig workers will get the benefit. Instead, it seems that those who have good jobs will get great benefits, while those who have part-time jobs, gig jobs, or are unemployed won’t get much. As Congressman Amash says, this stimulus package will widen the wealth gap.

Inequality is at the very foundation of our economic system, so it isn’t surprising that the coronavirus stimulus package reflects the biases that are hard-wired into our system.

We need committed, vocal, progressive members of Congress (Maxine Waters, Barbara Lee, Ayana Pressley, Bobby Scott, AOC, and others) to shine a bright light on this inequality, and to either modify the legislation or develop legislation to address some of these inequalities.

On March 23, Congresswoman Nita Lowey (D-NY) introduced HR 6379, the Take Responsibility for Workers and Families Act, that provides protections for workers and families mostly because the stimulus package does not. And there is a rush to pass the stimulus quickly as more and more people are out of work.

Stimulate the economy if you will, but don’t ignore the people on the bottom. If we are injecting $2.2 trillion into our lagging economy, make sure that some of it trickles down the poor.

Dr. Julianne Malveaux is an economist, author, media contributor and educator. Her latest project MALVEAUX! On UDCTV is available on youtube.com. For booking, wholesale inquiries or for more info visit www.juliannemalveaux.com

By Julianne Malveaux, NNPA Newswire Contributor

Posts by By Julianne Malveaux, NNPA Newswire Contributor

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Alameda County

DA Pamela Price Stands by Mom Who Lost Son to Gun Violence in Oakland

Last week, The Post published a photo showing Alameda County District Attorney Pamela Price with Carol Jones, whose son, Patrick DeMarco Scott, was gunned down by an unknown assailant in 2018.

Published

19 hours ago

April 22, 2024

Oakland Post

District Attorney Pamela Price with Carol Jones

Publisher’s note: Last week, The Post published a photo showing Alameda County District Attorney Pamela Price with Carol Jones, whose son, Patrick DeMarco Scott, was gunned down by an unknown assailant in 2018. The photo was too small for readers to see where the women were and what they were doing. Here we show Price and Jones as they complete a walk in memory of Scott. For more information and to contribute, please contact Carol Jones at 510-978-5517 at morefoundation.help@gmail.com. Courtesy photo.

Oakland Post

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Bay Area

State Controller Malia Cohen Keynote Speaker at S.F. Wealth Conference

California State Controller Malia Cohen delivered the keynote speech to over 50 business women at the Black Wealth Brunch held on March 28 at the War Memorial and Performing Arts Center at 301 Van Ness Ave. in San Francisco. The Enterprising Women Networking SF Chapter of the American Business Women’s Association (ABWA) hosted the Green Room event to launch its platform designed to close the racial wealth gap in Black and Brown communities.

Published

3 days ago

April 20, 2024

Oakland Post

American Business Women’s Association Vice President Velma Landers, left, with California State Controller Malia Cohen (center), and ABWA President LaRonda Smith at the Enterprising Women Networking SF Chapter of the ABWA at the Black Wealth Brunch.

By Carla Thomas

The Enterprising Women Networking SF Chapter of the American Business Women’s Association (ABWA) hosted the Green Room event to launch its platform designed to close the racial wealth gap in Black and Brown communities.

“Our goal is to educate Black and Brown families in the masses about financial wellness, wealth building, and how to protect and preserve wealth,” said ABWA San Francisco Chapter President LaRonda Smith.

ABWA’s mission is to bring together businesswomen of diverse occupations and provide opportunities for them to help themselves and others grow personally and professionally through leadership, education, networking support, and national recognition.

“This day is about recognizing influential women, hearing from an accomplished woman as our keynote speaker and allowing women to come together as powerful people,” said ABWA SF Chapter Vice President Velma Landers.

More than 60 attendees dined on the culinary delights of Chef Sharon Lee of The Spot catering, which included a full soul food brunch of skewered shrimp, chicken, blackened salmon, and mac and cheese.

Cohen discussed the many economic disparities women and people of color face. From pay equity to financial literacy, Cohen shared not only statistics, but was excited about a new solution in motion which entailed partnering with Californians for Financial Education.

“I want everyone to reach their full potential,” she said. “Just a few weeks ago in Sacramento, I partnered with an organization, Californians for Financial Education.

“We gathered 990 signatures and submitted it to the [California] Secretary of State to get an initiative on the ballot that guarantees personal finance courses for every public school kid in the state of California.

“Every California student deserves an equal opportunity to learn about filing taxes, interest rates, budgets, and understanding the impact of credit scores. The way we begin to do that is to teach it,” Cohen said.

By equipping students with information, Cohen hopes to close the financial wealth gap, and give everyone an opportunity to reach their full financial potential. “They have to first be equipped with the information and education is the key. Then all we need are opportunities to step into spaces and places of power.”

Cohen went on to share that in her own upbringing, she was not guided on financial principles that could jump start her finances. “Communities of color don’t have the same information and I don’t know about you, but I did not grow up listening to my parents discussing their assets, their investments, and diversifying their portfolio. This is the kind of nomenclature and language we are trying to introduce to our future generations so we can pivot from a life of poverty so we can pivot away and never return to poverty.”

Cohen urged audience members to pass the initiative on the November 2024 ballot.

“When we come together as women, uplift women, and support women, we all win. By networking and learning together, we can continue to build generational wealth,” said Landers. “Passing a powerful initiative will ensure the next generation of California students will be empowered to make more informed financial decisions, decisions that will last them a lifetime.”

Oakland Post

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MAYOR BREED ANNOUNCES $53 MILLION FEDERAL GRANT FOR SAN FRANCISCO’S HOMELESS PROGRAMS

San Francisco, CA – Mayor London N. Breed today announced that the U.S. Department of Housing and Urban Development (HUD) has awarded the city a $53.7 million grant to support efforts to renew and expand critical services and housing for people experiencing homelessness in San Francisco.

Published

3 days ago

April 20, 2024

Oakland Post

Mayor London Breed

FOR IMMEDIATE RELEASE:

Wednesday, January 31, 2024

Contact: Mayor’s Office of Communications, mayorspressoffice@sfgov.org

***PRESS RELEASE***

MAYOR BREED ANNOUNCES $53 MILLION FEDERAL GRANT FOR SAN FRANCISCO’S HOMELESS PROGRAMS

HUD’s Continuum of Care grant will support the City’s range of critical services and programs, including permanent supportive housing, rapid re-housing, and improved access to housing for survivors of domestic violence

San Francisco, CA – Mayor London N. Breed today announced that the U.S. Department of Housing and Urban Development (HUD) has awarded the city a $53.7 million grant to support efforts to renew and expand critical services and housing for people experiencing homelessness in San Francisco.

HUD’s Continuum of Care (CoC) program is designed to support local programs with the goal of ending homelessness for individuals, families, and Transitional Age Youth.

This funding supports the city’s ongoing efforts that have helped more than 15,000 people exit homelessness since 2018 through City programs including direct housing placements and relocation assistance. During that time San Francisco has also increased housing slots by 50%. San Francisco has the most permanent supportive housing of any county in the Bay Area, and the second most slots per capita than any city in the country.

“In San Francisco, we have worked aggressively to increase housing, shelter, and services for people experiencing homelessness, and we are building on these efforts every day,” said Mayor London Breed. “Every day our encampment outreach workers are going out to bring people indoors and our City workers are connecting people to housing and shelter. This support from the federal government is critical and will allow us to serve people in need and address encampments in our neighborhoods.”

The funding towards supporting the renewal projects in San Francisco include financial support for a mix of permanent supportive housing, rapid re-housing, and transitional housing projects. In addition, the CoC award will support Coordinated Entry projects to centralize the City’s various efforts to address homelessness. This includes $2.1 million in funding for the Coordinated Entry system to improve access to housing for youth and survivors of domestic violence.

“This is a good day for San Francisco,” said Shireen McSpadden, executive director of the Department of Homelessness and Supportive Housing. “HUD’s Continuum of Care funding provides vital resources to a diversity of programs and projects that have helped people to stabilize in our community. This funding is a testament to our work and the work of our nonprofit partners.”

The 2024 Continuum of Care Renewal Awards Include:

$42.2 million for 29 renewal PSH projects that serve chronically homeless, veterans, and youth
$318,000 for one new PSH project, which will provide 98 affordable homes for low-income seniors in the Richmond District
$445,00 for one Transitional Housing (TH) project serving youth
$6.4 million dedicated to four Rapid Rehousing (RRH) projects that serve families, youth, and survivors of domestic violence
$750,00 for two Homeless Management Information System (HMIS) projects
$2.1 million for three Coordinated Entry projects that serve families, youth, chronically homeless, and survivors of domestic violence

In addition, the 2023 CoC Planning Grant, now increased to $1,500,000 from $1,250,000, was also approved. Planning grants are submitted non-competitively and may be used to carry out the duties of operating a CoC, such as system evaluation and planning, monitoring, project and system performance improvement, providing trainings, partner collaborations, and conducting the PIT Count.

“We are very appreciative of HUD’s support in fulfilling our funding request for these critically important projects for San Francisco that help so many people trying to exit homelessness,” said Del Seymour, co-chair of the Local Homeless Coordinating Board. “This funding will make a real difference to people seeking services and support in their journey out of homelessness.”

In comparison to last year’s competition, this represents a $770,000 increase in funding, due to a new PSH project that was funded, an increase in some unit type Fair Market Rents (FMRs) and the larger CoC Planning Grant. In a year where more projects had to compete nationally against other communities, this represents a significant increase.

Nationally, HUD awarded nearly $3.16 billion for over 7,000 local homeless housing and service programs including new projects and renewals across the United States.