Sustaining Capitalism

Faced with a public health and economic crisis unlike any in living memory, Congress has enacted trillions of dollars of relief while the Federal Reserve is carrying out unprecedented market interventions. How successful have those efforts been and what more will need to be done in order to minimize harm? How should policymakers proceed given the uncertainties they face? Claudia Sahm, director of macroeconomic policy at the Washington Center for Equitable Growth, joins to discuss the Federal policy response to the COVID-19 pandemic to-date, the challenges of economic forecasting in the midst of a public health emergency, lessons learned from the Great Recession, and whether this time is different.

The public sector is scrambling to address the massive public health and economic crisis driven by the COVID-19 pandemic. As policymakers and bureaucrats at all levels of government have sought to ameliorate harm and spur an effective response, the performance of many government programs and systems—in terms of meeting demand for fast changes, increased use, and more flexible operations—has been rocky at best. New legislation designed to provide trillions of dollars in relief has met, at least initially, with several challenges that may be reducing the speed and effectiveness of intended aid. Hana Schank (https://www.newamerica.org/our-people/hana-schank/) Director of Strategy for Public Interest Technology at New America, a former member of the US Digital Service, and co-author of a forthcoming book on public interest technology and the recent essay “Why the rollout of the $2 trillion CARES Act was a colossal mess” (https://www.fastcompany.com/90491891/why-the-rollout-of-the-2-trillion-cares-act-was-a-colossal-mess), joins to discuss why the rollout of relief has been a challenge, the roots of the public sector’s struggle to deliver aid more effectively, and what Congress and other policymakers can do to improve future performance.

As states and communities seek to stem the spread of COVID-19, governors have issued stay-at-home orders for all residents with the exception of essential personnel who must work.  Throughout the country, the child care industry—both child care centers and home-based programs—

has been significantly impacted as well. Many programs have closed. Some programs are open to serve the children of essential personnel; however, enrollment is far below normal levels. Congress approved several relief programs to support small businesses through this public health emergency period. 

In this podcast, a panel of financing experts explores options that child care centers should consider in reviewing available new federal program supports in the CARES Act for both short-term economic viability, as well as for the recovery post-COVID-19.  The podcast is a “must hear” for anyone operating a child care center who wants to better understand not only available assistance, but also ways to think through prioritizing business expenses and to support economic viability in the short- and long-term.

Panel speakers:

Heidi Hagel-Braid, Chief Program Officer, First Children’s Finance

Louise Stoney, Independent Consultant and Co-Founder of Opportunities Exchange and Alliance for Early Childhood Finance

Moderator: Grace Reef, President, Early Learning Policy Group

Additional resources are available on CED’s web site at: https://www.ced.org/coronaviruschildcare

As states and communities seek to stem the spread of COVID-19, governors have issued stay-at-home orders for all residents with the exception of essential personnel who must work.  Throughout the country, the child care industry—both child care centers and home-based programs—

has been significantly impacted as well. Many programs have closed. Some programs are open to serve the children of essential personnel; however, enrollment is far below normal levels. Congress approved several relief programs to support small businesses (such as sole proprietors who operate family child care homes) through this public health emergency period. 

In this podcast, a panel of financing experts explores options that family child care home providers should consider in reviewing available new federal program supports in the CARES Act for both short-term economic viability, as well as for the recovery post-COVID-19.  The podcast is a “must hear” for family child care home providers who want to better understand not only available assistance, but also ways to think through prioritizing business expenses and to support economic viability in the short- and long-term.

Panel speakers:

Heidi Hagel-Braid, Chief Program Officer, First Children’s Finance

Louise Stoney, Independent Consultant and Co-Founder of Opportunities Exchange and Alliance for Early Childhood Finance

Moderator: Grace Reef, President, Early Learning Policy Group

Additional resources are available on CED’s web site at: https://www.ced.org/coronaviruschildcare

The COVID-19 crisis is posing significant and unprecedented challenges to the US health care system. Health care workers and hospitals are pushed to the brink responding to the pandemic. How can the nation’s response today prepare us for a better health care and public health system in the future? Is there a chance that what we learn today, and the remedies that we impose, can give us a more-rational health care system for the future in general terms, not just for public health and pandemics? Steve Messinger, President of ECG Management Consultants, and a member of CED’s Health Care Subcommittee, discussed the current situation, what can be expected regarding a COVID-19 vaccine and social distancing, and how the health care industry can respond better in future crises. The conversation was moderated by Joseph Minarik, CED’s Senior Vice President and Director of Research.

The United States is dealing with an acute crisis, unique in our recent economy history. In order to address the COVID-19 pandemic, policymakers and business leaders are bringing major elements of everyday life and commerce to a temporary halt. The US economy is almost certainly already in recession. The effects of the pandemic, including the public health response, will place enormous strain on many families and businesses. It will also pose a tremendous challenge to state and local governments, who will see demands for services spike just as revenues fall. Effectively confronting the public health and economic challenges posed by COVID-19 may demand Federal policy intervention into looming state and local budget shortfalls. Tracy Gordon (https://www.taxpolicycenter.org/author/tracy-gordon), Senior Fellow at the Urban-Brookings Tax Policy Center, joins to discuss the risk COVID-19 poses for state and local budgets, what the Federal government is or should be doing about it, and what we have learned from the lessons of the Great Recession.

As described in the January 2020 Committee for Economic Development of the Conference Board (CED) policy statement, Boosting Immigration: Harnessing global talent to increase US competitiveness, innovation, and prosperity, the challenges presented by slowing population and labor force growth and an aging populace will require the US to embrace every available advantage to bolster

the strength and productivity of the American workforce in order to help more American families benefit from growth and preserve our global leadership. With its ability to help supplement

and complement our existing labor force with additional skills and talent, and help create new entrepreneurial and employment opportunities, immigration policy presents an underutilized opportunity for achieving our nation’s economic goals.

Dr. Leah Boustan, Professor of Economics at Princeton University, joins to discuss her research on what we can learn from comparing US immigration past and present, and how those insights can inform today’s immigration policy debates.

April 1, 2020 is Census Day—Americans responding to the once-in-a-decade count will report where they were living on that day. As the Committee for Economic Development of The Conference Board outlined in its policy brief, The 2020 Census: The Importance of an Accurate and Robust Accounting of our Nation’s Population, the census is the primary source of data on the nation’s population and economy, used to determine our system of political representation, inform business development and investment, and allocate government funds to where they are most needed. As such, the accuracy of the population count is critical for decision-making in the decade ahead and forms an important basis for trust in the fairness of government. But this year’s Census will face unique and uncertain challenges in the form of a COVID-19 pandemic.

Robert Kueppers, a retired Senior Partner at Deloitte LLP and chair of the Committee for Economic Development of the Conference Board’s Money In Politics Subcommittee, and Nick Hart, President of the Data Foundation, join to discuss why the Census is so important, what challenges it faces in light of the COVID-19 virus, and how employers can help to ensure a successful count.

In a rapidly changing 21st-century economy with growing competition from abroad, continuing to field a world-leading, skilled workforce is both more essential and more challenging than ever to the mission of delivering increasing prosperity for American families and preserving our nation’s economic leadership. In the face of uncertain technological disruption, business leaders and policymakers will need to carefully consider the necessary changes and adjustments that could help to ensure that all Americans, including those whose potential contributions the US has failed to fully support and cultivate in the past, are better positioned to prosper in the future.

Molly Kinder, a David M. Rubenstein Fellow at the Brookings Institution's Metropolitan Policy Program and lead author of Worker Voices: Technology and the Future for Workers, joins to discuss her work examining the impact of emerging technologies on low wage workers and women and the challenges and opportunities of such technology as perceived by workers in occupations most at-risk of automation.

As described in the October 2019 Committee for Economic Development of the Conference Board (CED) policy statement Growing the American Workforce: Bolstering Participation Is Critical for US Competitiveness and Economic Strength, the growth of women in the paid workforce was among the most significant labor market stories of post-WWII America. But, after leading much of the world in the trend towards fuller female participation, the US now routinely lags many of its advanced economy peers. With an aging population and slowing labor force growth posing long-run risks to the economic strength and fiscal health of the country, the US must make full use of our available talent, including from groups whose potential contributions the US has failed to fully support and cultivate in the past, in order to achieve growing and broadly shared prosperity and remain globally competitive in a rapidly changing 21st-century economy.

Manager of Economic Research at Schmidt Futures and former Research Director at Indeed.com’s Hiring Lab, Martha Gimbel joins us to discuss the trends, barriers, and policy choices shaping women’s labor force participation in the US.