skip to main content
skip to newscasts

Thursday, September 19, 2024

Public News Service Logo
facebook instagram linkedin reddit youtube twitter
view newscast page
play newscast audioPlay

U.S. gender wage gap grows for first time in a decade; Trump has embraced NC's Mark Robinson, calling him 'Martin Luther King on steroids'; Volunteers sought as early voting kicks off in MN; Women's political contributions in congressional races fall short of men's.

view newscast page
play newscast audioPlay

Rising threats of political violence, a Federal Reserve rate cut, crypto industry campaign contributions and reproductive rights are shaping today's political landscape.

view newscast page
play newscast audioPlay

A USDA report shows a widening gap in rural versus urban health, a North Carolina county remains divided over a LGBTQ library display, and Minnesota Gov. Tim Walz' policies are spotlighted after his elevation to the Democratic presidential ticket.

Will Wall Street Bailout Reach Main Street, NV?

play audio
Play

Monday, October 6, 2008   

Las Vegas, NV - Will the rescue of Wall Street reach Main Street? The eyes of the nation, and the world, will be on the U.S. stock market today as the $700 billion bailout gets its first major test. For Nevada, the big questions are whether the rescue plan will provide a cure for two of the state's biggest problems, unemployment and home foreclosures.

James Parrott, chief economist for the Fiscal Policy Institute, doubts that the bailout will cure those woes. He believes that while Congress took an important first step by injecting billions to stabilize the markets, more action is needed for the rescue to help people in Nevada.

"We also need to stabilize real estate markets and provide a robust stimulus package to get the economy going again. Unfortunately, the second and third steps were not part of this deal."

The Silver State has long ranked among the "foreclosure capitals" of the nation, and unemployment has now become a growing concern. The nation lost 159,000 jobs last month, and state economists have issued their own dire prediction for Nevada. They say unemployment will reach 8.6 percent next year, and unless the economy gets rolling again, the jobless rate could stay at that level for years to come.

Launce Rake, with the Progressive Leadership Alliance of Nevada, worries about the way these job losses will affect the state.

"Unemployment is at its highest rate in more than a quarter-century. Folks are going to lose their jobs, and this bill does nothing to address the fundamental economic problems that are leading to foreclosures and unemployment."

Rake believes Congress needed to act to stabilize the financial markets, but among the results will be the elimination of resources that could have funded important work in areas such as health care, education and human services.


get more stories like this via email

more stories
Recipients of the Greenhouse Gas Reduction Grant can now access funding to drive financing for thousands of climate-focused and clean energy initiatives. (bilanol/Adobe Stock)

Environment

play sound

Michigan's most vulnerable communities are receiving federal funding to fight the devastating effects of climate change. It's part of the $27 billion …


Health and Wellness

play sound

September is Health Literacy Month, and a Denver-based group is working to help health professionals break a persistent pattern of discrimination …

Environment

play sound

A new report contends fossil fuel funding has biased Columbia University's climate research. The report, by two Columbia students, shows the …


Alabama releases roughly 220,279 men and 78,247 women from its prisons and jails each year. (Chad Robertson/Adobe Stock)

Social Issues

play sound

An Alabama woman is on a mission to help people who've been incarcerated for decades successfully transition back into society. The mission to …

Health and Wellness

play sound

In North Carolina, the gap between Medicaid reimbursement rates and the actual cost of dental care has reached a crisis point, impacting both …

So far in 2024, community health centers in North Dakota have screened 11,580 patients for food insecurity. Through those screenings, more than three thousand box meals have been distributed. (Adobe Stock)

Social Issues

play sound

September is Hunger Action Month. In North Dakota, it isn't just food banks trying to help underserved populations get nutritious items. Health …

Environment

play sound

Marine biologists conducting deep dives near five California islands are collecting data they hope will strengthen the case for ending gillnet fishing…

Environment

play sound

Researchers at Iowa State University are taking aim at the huge amount of energy used by data centers, now and in the future. They have developed a …

 

Phone: 303.448.9105 Toll Free: 888.891.9416 Fax: 208.247.1830 Your trusted member- and audience-supported news source since 1996 Copyright © 2021