Inequality, Opportunity, and What It Will Take to Get Less of the Former and More of the Latter Jared Bernstein CBPP Seattle, WA Washington State Budget.

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Presentation transcript:

Inequality, Opportunity, and What It Will Take to Get Less of the Former and More of the Latter Jared Bernstein CBPP Seattle, WA Washington State Budget and Policy Center 12/12/13

Current Events: Where Are We, Economy-Wise? Getting better doesn’t mean you’re healed. Just who’s economy you talkin’ about? Recent employment trends, the good, the less good Washington State and the nation: lots of similarities by one very conspicuous difference (i.e., tax revenues)

Sources: BES, S&P, Sentier Research

Source: SCF

What’s Wrong Slack Labor Markets Structural inequality feeds into: Diminished opportunity Dysfunctional politics Macro-economic problems (bubble, bust, repeat) Facts versus ideology, truthiness, “think tanks” for hire, etc. Austerity, “Deficit Attention Disorder”

Real Median Income, Working Age HHs Source: Census Bureau

What’s Right Seatac Min Wg Victory: You go, Seattle! Is it “outside the sample?” Yes…About time someone got outside the sample. Recognition of inequality, opportunity linkages Disgust with dysfunction Demographic, racial, ethnic pressures: social insurance, politics, immigration reform. Divergent quality of the analysis: He said, she said…but “she” can’t be trusted!