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Yes, this is an emergency. No, that doesn’t justify a $500 billion Trump/Mnuchin slush fund.

By Jared Bernstein and Dean Baker While the indicators are lagging, the U.S. economy is in a recession that will very likely be extremely deep. It’s likely that real GDP falls at double-digit pace in the quarter that begins next month and the unemployment rate more than doubles. If that sounds implausible, history shows that in sharp downturns, the unemployment rate takes the elevator up and the stairs down. To their credit, after a...

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Dr. King knew that full employment raises the price of prejudice

There are so many reasons to celebrate the life, work, and legacy of Martin Luther King, Jr., whose birthday we celebrate today. The dimension I like to elevate is Dr. King’s profound understanding of the importance of full employment to the opportunities of black Americans. Remember, the full name of the March on Washington was the March on Washington for Jobs and Freedom (my bold). A sign some of the marchers held that day told of...