U.S. Economic/Financial News
Americans Protest Fascist Austerity
June 16 (EIRNS)A scan of national news coverage shows that Americans are on the streets protesting budget cuts of all kinds, made necessary by the failure to cancel the worthless derivatives debt as Lyndon LaRouche has called for, and implement a Glass-Steagall standard.
In St. Paul, Minn., protestors set up a free clinic outside the offices of Gov. Tim Pawlenty on June 15, to dramatize cuts in general assistance medical care.
There are numerous actions against education cuts. In Chicago, teachers and parents today protested plans to lay off 2,700 teachers and increase class sizes to 35. In Milwaukee, 200 people protested 482 teacher lay-off notices (12% of Milwaukee's full-time teachers). In Mountain View, Calif., teachers and parents rallied for two days to protest plans to fire 17 teachers and increase class sizes from 20 to 25 students.
In New York City, 600 students walked out of classes last week to protest plans by the Metropolitan Transit Authority to eliminate the free metrocards-for-students program. On June 15, hundreds of angry seniors protested at City Hall against the threatened closing of 50 senior centers, forced by a $4.2 million cut of the Department of Aging's budget.
Ten out of 11 campuses of the University of Puerto Rico are on strike against "dramatic" budget cuts, privatization of its campuses, and a tuition increase of 150%. The strike began two months ago, and includes camps on some of the campuses where the strikers are living.
New Jersey is particularly hot. In Millville, Passaic, and Franklin, hundreds protested plans to lay off police and/or firefighters. In Vineland, there was a June 10 protest against state budget cuts of health screenings, emergency food distribution, and other services. In Paramus, over 1,000 Bergen County teachers rallied June 10 to protest state education cuts and urge the legislature to "stop the madness." Gov. Chris Christie's budget calls for $820 million in cuts to education.
Congress Dumps Hundreds of Thousands into Destitution
June 15 (EIRNS)When the Congress shut down for Memorial Day, several programs expired, including long-term unemployment compensation, COBRA subsidies, and Medicaid aid to the states, totaling $123 billion. The result was that over 300,000 people have lost their unemployment checks, and this will go up to 1.25 million by July 1.
Yet, the Congress has postponed voting on an extension until next week at the earliestand may not get it passed then, due to the fascist budget-cutting mania in both parties, neither of which are yet serious about actually solving the problem with Glass-Steagall and reversing the bailout.