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Beyond AIG -- working for a moral budget
The actions of AIG executives--with their reckless credit default swaps--contributed to the economic collapse we're experiencing today. The fact that $165 million of federal bailout funds were funneled to these same AIG execs symbolizes the core corruption behind it.
The popular response so far has centered on punishing offending investment banks, but we need a more holistic approach as well. Regardless of what happens with those AIG bonuses, the bottom line is that Americans are suffering. People are losing jobs and health care, unable to provide for their families and to ensure their immediate needs are met. Non-profit organizations across the country, like food banks and free health clinics, are stepping up to help, but they are buckling under the pressure of this recession. With donations sagging and investment values plummeting, these organizations are facing debilitating budget cuts. We need to help. These programs are lifelines for thousands of struggling families, and Faithful America is advocating for a budget that supports them.
The new federal budget submitted by the president is a step toward fairness. By increasing funds to food assistance, health care, and providing tax cuts for low and middle-income families, it renews our commitment to the common good. This budget says we're not going to bail out investment banks while leaving food banks and other service providers behind.
To this end, Faithful America is starting a campaign to build support for a federal budget that addresses the needs of on-the-ground service providers and the people they assist. Click here to learn more and lend your support.
Members of Congress will be under intense pressure to cut these vital funds. We need to remind them that difficult times are when these programs are needed the most.
The AIG bonuses are shocking, not just due to their size, but what they represent: the rejection of the idea of shared sacrifice and the common good. We might not be able to get those executives to reconsider their priorities, but we can demonstrate our values and commitment to the well-being of all -- not just a wealthy few.
UPDATE: Recipients of 15 of the 20 largest bonuses have returned them, including 9 of the top ten. Good start.
UPDATE II: The Coalition on Human Needs has more information on how the budget can improve opportunity and address needs for millions of Americans. Read the statement of support they sent every member of Congress here.
The popular response so far has centered on punishing offending investment banks, but we need a more holistic approach as well. Regardless of what happens with those AIG bonuses, the bottom line is that Americans are suffering. People are losing jobs and health care, unable to provide for their families and to ensure their immediate needs are met. Non-profit organizations across the country, like food banks and free health clinics, are stepping up to help, but they are buckling under the pressure of this recession. With donations sagging and investment values plummeting, these organizations are facing debilitating budget cuts. We need to help. These programs are lifelines for thousands of struggling families, and Faithful America is advocating for a budget that supports them.
The new federal budget submitted by the president is a step toward fairness. By increasing funds to food assistance, health care, and providing tax cuts for low and middle-income families, it renews our commitment to the common good. This budget says we're not going to bail out investment banks while leaving food banks and other service providers behind.
To this end, Faithful America is starting a campaign to build support for a federal budget that addresses the needs of on-the-ground service providers and the people they assist. Click here to learn more and lend your support.
Members of Congress will be under intense pressure to cut these vital funds. We need to remind them that difficult times are when these programs are needed the most.
The AIG bonuses are shocking, not just due to their size, but what they represent: the rejection of the idea of shared sacrifice and the common good. We might not be able to get those executives to reconsider their priorities, but we can demonstrate our values and commitment to the well-being of all -- not just a wealthy few.
UPDATE: Recipients of 15 of the 20 largest bonuses have returned them, including 9 of the top ten. Good start.
UPDATE II: The Coalition on Human Needs has more information on how the budget can improve opportunity and address needs for millions of Americans. Read the statement of support they sent every member of Congress here.
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