Hundreds of jobs are being relocated overseas or lost altogether as a result of the June 30 expiration of the Export-Import Bank — with no relief in sight as a gridlocked Congress is unlikely to reauthorize it anytime soon.
General Electric announced Tuesday that will move 500 U.S.-based jobs to Europe and China because the agency’s expiration means it has to seek export financing credit elsewhere. Boeing, meanwhile, blamed the collapse of a second satellite deal on the loss of credit and said it will likely result in the loss of hundreds of jobs by year’s end. MORE
Inequality is about much more than the growing chasm of income and wealth between those at the very top and everyone else in America. It’s also about education, environmental hazards, health and health care, incarceration, law enforcement, wage theft and policies that interfere with family life over multiple generations.
In its full dimensions, inequality shapes, distorts and destroys lives in ways that get little attention from politicians and major news organizations. How many of us know that every day 47 American babies die, who would live if only our nation had the much better infant mortality rates of Sweden?
“Poverty is not natural,” Nelson Mandela once said. “It is man-made and it can be overcome and eradicated by the actions of human beings.”
The man-made disparities between the rich and the poor are a threat to the liberties of the people. Plutarch, the Greco-Roman historian, observed more than 2000 years ago that, “an imbalance between rich and poor is the oldest and most fatal ailment of all republics.” MORE