The Economic Crisis, The Budget & The University
A forum on the economic crisis and the cutbacks at the university was held Oct.13,2009. At Sacramento State University for over 120 students, faculty, and community members, as a part of CFA’s week of action against the university budget cuts, furloughs and lay offs. http://www.calfac.org/headlines.html.
Speaking representing the Sacramento Chapter of Democratic Socialists of America in the forum Dr. Duane Campbell argued political actions taken and not taken in the next 12 months may well determine the structure of our economy, our health care system, and our unions for the next two decades. He urged participants to see the new film, Capitalism: a Love Story by Michael Moore.
Campbell noted that the unemployment rate is currently over 10% in California. Nationally, unemployment for African Americans is over 15.4%,
for Latinos it is over 12.7%. For African Americans and Latinos under 25 years of age; it is over 25%.
That is young people in the African Americans and Latino communities are in a Depression !!!
“If you go down the street and rob a 7/11 store, you will get 5-7 years in prison.” Said Campbell.
“The major bankers, finance capitalists in the U.S. robbed the bank last year – and the federal treasury. They took hundreds of billions of dollars – and you and I will have to pay for it. Goldman Sachs alone took $10 Billion. For this, for example, Ken Lewis of Bank of America received an 81 million dollar pension. “ They have not even been punished. One thing we should do is arrest the top 100 executives and CEO’s of these companies, give them a fair trial, and throw them in jail. Until we arrest some people – there will be no real changes.”
The California Faculty Association (SEIU/NEA/ AFL-CIO) has organized protests and forums on campuses around the state. http://www.calfac.org/headlines.html. They are working with Assembly Majority Leader Torrico to passing a specific tax on oil companies to fund higher education in the future AB 656.http://democrats.assembly.ca.gov/members/a20/mainpage.aspx
Speakers at the forum on the Economic Crisis included, Prof Paul Burke, Co-Chair Sac. Progressive Alliance; Dr. Duane Campbell, Democratic Socialists of America; Kristina Lee, Pres. Campus Progressive Alliance; Kevin Wehr, Pres. CFA (AFL-CIO).
Materials and graphics from United for a Fair Economy were shared and
the following readings were suggested:
Paul Krugman. The Return of Depression Economics and the Crisis of 2008. (2009)
Dean Baker, Plunder and Blunder; The Rise and Fall of the Bubble Economy. (2009)
Nomi Prins. It takes a Pillage; Behind the Bailouts, Bonuses, and Backroom Deals from Washington to Wall Street. (2009)
William Grieder, The Soul of Capitalism; Opening Paths to a Moral Economy. 2003.
Justin Fox. The Myth of the Rational Market: a history of Risk, Reward and Delusion on Wall Street. (2009)
Jeff Faux, The Global Class War: How America’s Bipartisan Elite Lost our Future- and What it Will Take to Win it Back. (2006)
Duane Campbell. Choosing Democracy: a practical guide to multicultural education. 4th. (2010)
United for a Fair Economy; http://www.faireconomy.org/
Center for Economic and Policy Research. http://www.cepr.net/