Life After November 2
Economy Talking Points
· A 0.5% cap on growth of non security discretionary spending will cut domestic programs and represent the lowest growth since 1993.
· A total discretionary spending increase of only 3.9% is less than the increase in the average family income.
Deficit
· Last year the government spent $318 billion on interest payments for the National debit – three times a much as the entire budgets for NASA, Education and the Department of Transportation combined.
· To date, interest payments on the National Debt have cost $115 billion dollars and are the third largest expense in the federal budget.
· As of February, the National Debt has risen to $7 Trillion dollars
Unemployment
· It takes 150,000 new jobs a month to allow for new entry to the job market. To lower the unemployment rate 1% a year would 300,000 new jobs a month
· Currently, 1 out of 9 African Americans cannot find a job.
No Child Left Behind (NCLB)
· More than half of 47 states surveyed in a report on NCLB said fiscal problems affected their ability to implement the law.
· Currently under funded by almost $7 billion dollars, NCLB has come under fire from Democrats and Republicans for issuing mandates without necessary funding.
· A report by the Brookings Institute says the needs of gifted or high achieving students are ignored by NCLB
The Wage Gap
· The Gender Gap costs working families $200 billion of income annually – and hits single parent families hardest as more women head households alone than men.
· Two thirds of working women and over half of married women provide at least half of the family income