Latest news with #economicsecurity
Wall Street Journal
a day ago
- Politics
- Wall Street Journal
How an ‘America First' Policy Can Benefit U.S. Allies
Rather than complain about President Trump, consider the world from his viewpoint. The way he sees it, the U.S. has spent blood and treasure in largely futile wars to democratize benighted countries, has provided security for largely ungrateful allies, and has seen its economic strength and technological edge erode due to globalization that has benefited America's enemies more than America itself. Hence, Mr. Trump is scrapping green rules that have diminished America's economic security. He is abolishing 'diversity' mania, which has crimped productivity. He is expelling Chinese students from universities where they steal American knowhow and ending the woke madness that pretends 'gender' is whatever you say it is.
Forbes
2 days ago
- Politics
- Forbes
The Domino Effect Of Gutting Education On Economic Mobility
Education is the cornerstone for better health outcomes and lifetime economic security. As AI advances, unequal access to quality education risks widening disparities further CLOSE-UP OF DOMINOES ARRANGED AGAINST BLUE BACKGROUND As another school year looms and millions of American children ready their backpacks for a new classroom, the department tasked with ensuring every child receives an equitable education faces an existential threat. The proposed dismantling of the U.S. Department of Education, made easier this month by a Supreme Court ruling in the Trump Administration's favor, is more than administrative tinkering — it is a seismic shift with profound consequences for society. The foundation of a healthy democracy and economy is built on accessible, high-quality public education, and destabilizing this core institution brings cascading impacts across all facets of American life. Without federal oversight from the Department of Education, essential programs would fragment or vanish altogether. Students in low-income communities who are disproportionately Black, Hispanic and Indigenous would be stripped of protections and funding that help close wide achievement gaps. These students already face persistent barriers of underfunded schools, less experienced teachers and reduced access to rigorous coursework compared to their white peers. Important federal statutes such as Title 1 (schools with a higher proportion of low-income students) and the Individuals with Disabilities Education Act (IDEA), which currently ensure resources flow to schools serving students experiencing poverty and disabilities; could erode or disappear, jeopardizing the futures of millions. It's worth noting that 90% of U.S. students and 95% of students with disabilities access public schools — a system the Department of Education was designed to protect. The economic ramifications are stark. In the 2021–2022 fiscal year, government spending across all levels on K-12 education was around $880 billion, representing slightly more than 3.5% of GDP. The return on this investment is indisputable: research has shown that for every dollar spent on early childhood education, yields are upwards of 10x the return on investment when factoring in increased tax revenue and reduced welfare dependence. The poverty rate among individuals who did not graduate from high school in 2023 was more than 25%, more than five times the rate of those with a bachelor's degree or higher. High school graduates experience more stable employment, higher earnings, and dramatically lower rates of welfare usage. Spending cutbacks and the dissolution of federal oversight would slash these gains, increasing costs across public health, welfare and criminal justice systems. The dismantling of the Department of Education also compounds pre-existing inequities. Seventy years after Brown v. Board of Education, Black and Latinx students still attend schools with higher shares of students in poverty, fewer material resources and poorer graduation and college attainment rates. The odds are stacked against them — children from the lowest income families are far less likely to enroll in or graduate from four-year colleges and more likely to be incarcerated, keeping the ladder to middle-class stability out of reach. By gutting federal programs that relieve some of these burdens, the path to upward mobility becomes steeper and even more exclusive. We must also recognize that these threats to our existing education system come at a moment of rapid technological change. While artificial intelligence has the potential to personalize learning and streamline tasks for educators, it also risks amplifying existing inequities if students, particularly those from underfunded districts, are left behind due to lack of access to reliable technology — or worse yet, lose the foundational skills and critical thinking that effective educators foster. For those already facing obstacles, the absence of robust public education could transform AI's promise from uplifting to deepening disadvantage. The impacts of gutting education policy and funding do not stop at the classroom door. Education remains closely linked to health and lifetime earnings. Individuals with more education report better physical and mental health, lower rates of chronic conditions and longer life expectancies. Conversely, those with less education face not only diminished income, but also worsening health outcomes and heavier reliance on strained social safety nets. A collapse of federal support for education will echo through hospitals and social services, burdening society and creating financial fallout across generations. To witness the Department of Education facing an existential threat when children are sharpening pencils and teachers are redecorating classrooms is a bitter irony. Our present moment is not a single domino tumbling. It is a tableful toppling in sequence — education, the economy, racial justice, health and technological opportunity — falling faster, each impact making it harder for the next generation to rise. Dismantling our country's education agency is not the path to a better future. It is the deliberate unraveling of the social infrastructure that anchors American opportunity. When the last domino falls, rebuilding will be incalculably harder than protecting what we have now.
Associated Press
2 days ago
- Business
- Associated Press
Albertsons, Safeway and Vons Workers Reach Tentative Agreement, Avoid Historic Strike
ROSEVILLE, Calif.--(BUSINESS WIRE)--Jul 27, 2025-- UFCW 8-Golden State, along with UFCW Locals 5 and 648, is proud to announce a tentative agreement with Albertsons Companies, parent company of Safeway and Vons grocery stores. The new deal delivers economic security, health care and pension improvements for 25,000 Albertsons, Safeway and Vons members. 'This agreement is the result of our members standing strong together,' said UFCW 8-Golden State President Jacques Loveall. 'Because of their unity and determination, this new agreement will bring them the respect and dignity they deserve. These workers are more than the backbone of these companies—they are part of the fabric of our communities, and their efforts drive our shared success.' The tentative agreement includes: This breakthrough follows five months of intensive negotiations, round-the-clock bargaining sessions in the final days and the threat of a walkout involving more than 25,000 grocery workers from the Grapevine to the Oregon Border. UFCW 8-Golden State members working in Albertsons and Vons locations in Kern, Inyo, and Mono Counties, covered under a separate expired contract, also have a new tentative agreement. Union leaders are confident members will recognize the value of the improvements gained through their solidarity and will distribute details about the ratification process in the coming days. 'We're deeply grateful to the customers we serve for their unwavering support. Your encouragement gave our members strength, resolve, and the confidence to stand united. We were never alone thanks to you,' Loveall said. Additional details about the agreement will be shared following the ratification vote. View source version on CONTACT: UFCW 8-Golden State President Jacques Loveall [email protected] KEYWORD: UNITED STATES NORTH AMERICA CALIFORNIA INDUSTRY KEYWORD: PUBLIC POLICY/GOVERNMENT RETAIL CONVENIENCE STORE DISCOUNT/VARIETY SUPERMARKET LABOR FOOD/BEVERAGE SOURCE: UFCW 8-Golden State Copyright Business Wire 2025. PUB: 07/27/2025 08:40 AM/DISC: 07/27/2025 08:40 AM
Reuters
6 days ago
- Business
- Reuters
US should focus on economic ties to compete with China in Indo Pacific, says former Australia PM
SYDNEY, July 24 (Reuters) - Australia's former Prime Minister Scott Morrison, testifying at a U.S. Congress panel hearing about countering China, has urged the U.S. to "double down" on its economic engagement in the Indo Pacific where Beijing is asserting influence. Speaking on Wednesday, Morrison said economic security is the main security focus of many countries in Southeast Asia, and U.S. leadership on economic issues and Western investment gives the region choice. "When China is active in a particular country ... the response to that is not for the U.S. or other allied interests to not be there, the response is to double down and be there even more strongly to provide them with that choice," he said. Morrison was invited to speak to the Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party about his government's experience of China imposing $20 billion in unofficial trade sanctions after Australia called for an inquiry into the origins of the COVID-19 pandemic in 2020. The sanctions were lifted by Beijing after Morrison lost a national election in 2022, and Anthony Albanese's Labor government sought to stabilise ties with Australia's largest trading partner. Morrison said the U.S. should work more with its Quad allies including Australia and Japan to build a supply chain for critical minerals and rare earths needed for defence equipment, including the nuclear-powered submarines Australia is buying from the United States under the AUKUS pact. "The processed rare earths, whether they go into nuclear submarines, F-35s or whatever it happens to be, that is essential for those things to be done," he said. Deals similar to that struck this month for the U.S. Department of Defense to back U.S.-based rare earth magnets producer MP Materials (MP.N), opens new tab "should be extended to allies and partners", he said. China recently demonstrated its leverage by withholding exports of rare earth magnets, upending global markets, before reversing course. The Australian public awareness of the potential threat posed by China is "somewhat in jeopardy", Morrison said, pointing to a Lowy Institute poll showing more Australians see China as an economic partner than a security threat.
CTV News
18-07-2025
- Business
- CTV News
Alberta's rainy day fund hits $30B
Alberta Premier Danielle Smith (left) is seen with Finance Minister Nate Horner (center) and Heritage Fund Opportunities Corporation chair Joe Lougheed (right) on July 18, 2025. (CTV News Edmonton/Galen McDougall) Alberta's savings trust fund saw a $2.8 million boost, hitting a record of $30 billion. 'It's difficult for some to believe that this is important,' said Premier Danielle Smith at the announcement in Edmonton Friday. 'Some would say that the revenue we have today should all go to fund the needs of today.' 'But, the Heritage Fund is perhaps the most important, best investment that we can make today.' The Heritage Fund was established in 1976 by then-premier Peter Lougheed to save for the future and strengthen and diversify the Alberta economy. The province has continued to reinvest a portion of its resource revenues for nearly 50 years. In January, Smith set a goal to bring the fund up to $250 billion by 2050, after which, the province would be able to withdraw some of the income of the funds each year while still allowing the fund to grow. Withdrawals could help cover fluctuations in resource revenue, invest in infrastructure and keep taxes low, according to the province. Smith said the province intends to double its oil and gas production and get new capacity for pipelines to export additional production, helping the province reach its 2050 goal. 'We are turning today's energy prosperity into tomorrow's economic security,' said Finance Minister Nate Horner, adding that the fund has grown 80 per cent in the last five years. At the beginning of the year, Smith appointed the Heritage Fund Opportunities Corporation, chaired by Joe Lougheed, to direct policy for the rainy day fund. The majority of the fund is still managed by the Alberta Investment Management Corp., also known as AIMCo, which is chaired by former Prime Minister Stephen Harper.
