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Creating Jobs is Not Enough

Other Solutions Needed to Help More Americans Get to the Middle Class & Stay There
Published:   July 6, 2012

Washington, DC - Both Republicans and Democrats have made this election about one thing: jobs. But job creation alone will not increase access to the fading American Dream, according to the Asset Building Program at the New America Foundation.

New data show average Americans lost nearly 40 percent of their wealth in the Great Recession, but the unfolding political debates have yet to focus on how to help Americans rebuild their balance sheets. Even before the economy's collapse - when the unemployment rate was low - the middle class was struggling as debts soared and disposable income dried up.
New America experts laid out several policy recommendations in the newest issue of the Washington Monthly, which will be available at  http://www.washingtonmonthly.com/ at 9:15 a.m., Wednesday, July 11, 2012.
* Reid Cramer outlines a series of systemic reforms to the tax code, retirement accounts, and public-assistance programs to help build the wealth of Americans.
* Dana Goldstein argues that a small amount of personal savings can make a world of difference for children, who are more likely to attend college and succeed in life if they hold some savings.
* Phil Longman argues wealth inequality can be limited by creating American Stakeholder Accounts for children at birth, extending the power of investing to a new generation of savers.
* Kevin Carey proposes increasing access to post-secondary education by making it easier for life experience and earned knowledge to count toward graduation.
* Mark Schmitt details the history of the "asset building" movement and argues that the field has shown enough promise through pilot projects that it is time to build national policies to implement these ideas.
* Barry Lynn and Lina Khan explain the pressures that are crushing small business start-ups, and outline a plan to let American small businesses flourish
These experts and others will discuss solutions to help more Americans get to the middle class and stay there at our event on July 11 from 9:15 to 11:15 a.m. Click here to RSVP.
To interview one of the writers listed above, please contact Clara Hogan. A PDF copy of the magazine is available upon request.