The Girls' Guide To The Economy Part 4--Marie Antoinette and the Katrina Analogy

During the last week, we have witnessed world leaders  discussing the economy over  $500 wine and automobile company execs flying to Washington in private corporate jets to beg lawmakers to bailout their ailing companies.  And then in this week’s contest for the most unspeakably elitist Let Them Eat Cake economic delusional behavior  the Clare Booth Luce Institute which has just issued its “Pretty in Mink 2009″ calendar is a clear winner. What really can you say?
Fortunately, there are indeed  women who get it, now if only we would listen to them:

“Women are being disproportionately affected by the U.S. mortgage crisis and economic plunge, said a panel of women leaders Wednesday, urging a strong woman-focused response from the federal government.”

“(Women, according to) Sara Mersha, the executive director of Direct Action for Rights and Equality (DARE) in Rhode Island, are part of what she calls the “economic Katrina.”

Mersha spoke along with other women’s rights advocates at a teleconference sponsored by the Ms. Foundation for Women called, “Lifted Up or Left Out? Economic Stimulus Policy that Benefits Low-Income Women.” The experts discussed the challenges facing women in the United States today and policies that could make a difference.

Mersha said the current sub-prime mortgage crisis is similar to the 2005 hurricane not only in terms of scale — the number of people affected — but also who is being hit the hardest. She said that in Rhode Island, most of the foreclosures and evictions are happening in poor communities and neighborhoods with African-American or Latino residents. DARE is doing a local research study concerning the crisis. While visiting homes being foreclosed, Mersha noticed another disturbing trend: “There are disproportionate numbers of women behind those doors,” she said.

The effects of the sub-prime mortgage crisis on women are exacerbated by other, pre-existing problems, according to the panelists. Sara Gould, president and CEO of the Ms. Foundation, said that out of the 37 million Americans living in poverty, 27 million are women and children. In fact, she added, single mothers and their families are more likely to live in poverty than any other demographic group in the United States.

Fully two thirds of the minimum wage and below-minimum wage workforce in the United States are women, said Gould. For many of these workers, the laws are inadequate to protect their rights”

“Nancy Duff Campbell, co-president of the National Women’s Law Center in Washington, DC, said the creation of a safety net begins with an economic stimulus package. The first stimulus package, released in February, had very little effect, Campbell said, but the new ideas being proposed by Democrats may help build long-term solutions.

According to Campbell, the essential elements of a “safety net” would include an extension of unemployment benefits and more funding to support programs that many women depend on.

Campbell emphasized that unemployment benefits should not just be extended, but also expanded to cover more people. This would help all those who have lost jobs in the economic crisis, many of whom are women. Campbell said this is an opportunity to push for better unemployment compensation for part-time and low-wage workers.

Campbell said another element that should be included in the economic stimulus package is money to increase food-stamp benefits, WIC benefits for low-income women and children, and other programs to help people cope with rising food costs. Most of the beneficiaries of these programs are women and their children, said Campbell.

The package should also help states that are suffering in the economic crisis. For example, Campbell said, if the federal government funds a larger share of the Medicaid program, it takes some of the burden off state budgets and prevents cuts in other state programs on which many women depend, like child care.

Mersha said that even half the money devoted to the $700 billion government bailout for banks could have a huge impact on housing, jobs, health care, education, and other social programs that would benefit women and communities.

The government should focus on increased investment in programs that “prevent folks from being in a situation where they have nowhere else to turn,” said Mersha. “We need a fundamental shift in our priorities.”"