San José, CA – On Friday, Jan. 15, the Department of Labor released reports on inflation and real earnings (wages adjusted for inflation) for 2009. The rate of increases in prices for workers who live in cities was moderate, at 3.4%. This figure was higher than the official inflation rate of 2.7%. However wages failed to keep up with the rise in prices, so weekly real earnings, or the purchasing power of workers' weekly wages, fell by 1.6% in 2009. This fall in wages was mainly because the average increase in hourly wages was less than the rise in prices. This reflected the lack of raises and spreading wage cuts last year. Cuts in workers' hours, which also reduced weekly pay, also played a role.

_Put a Tax on Wall Street! _

In September of 2008 the New York Federal Reserve gave the U.S. insurer American International Group (AIG) an $85 billion loan as part of the bailout of Wall Street. The NY Fed told AIG to pay big banks in full the $62 billion AIG owed for credit default swaps. In addition, the NY Fed told AIG not to tell the public how much they owed or who they were paying off. The government bailout of AIG has been increased three times since then and now totals more than $180 billion.

San José, CA – On Friday, Jan. 8, the Labor Department reported that 85,000 more jobs were lost in December of 2009. This was much worse than mainstream economists predicted and shows that another ‘job-loss’ recovery may be underway. Following the last official recession in 2001, the economy began to grow in November of 2001 but workers continued to lose jobs until the summer of 2003.

En todo el país, mas trabajadores estamos perdiendo nuestros trabajos y nuestras casas. Cada semana, la cantidad de personas que llegan al fin de sus beneficios del desempleo crece. En cada estado, están cortando los presupuestos de las escuelas publicas y los programas que sirven a los pobres y a los trabajadores. La salud esta en crisis y el congreso esta debatiendo un rescate para las corporaciones de seguro medico. Las nacionalidades oprimidas – la gente afro-americana, los chicano y latinos, los asiáticos y los nativo-americanos son los mas fuertemente golpeados por la crisis económica.

Across the country, more working people are losing our jobs and our homes. Each week, the ranks of those running out of our unemployment benefits grow. In every state, public schools and programs that serve poor and working people are being cut. Health care is in crisis and congress is debating another bailout for the insurance companies. Oppressed nationality – Black, Chicano, Latino, Asians and Native Americans – are hit the hardest by the economic crisis.

Minneapolis, MN – Leslie Parks and her backers went to housing court Dec. 9 and filed papers against IndyMac/One West for doing an unlawful lockout. Leslie Parks had arrived home the night before only to find that all the locks had been changed on her home.

Minneapolis, MN – On the night of Dec. 8, in a freezing blizzard, Leslie Parks returned from her job to find that IndyMac/One West had changed the locks to her home.

San Bruno, CA – On Nov. 18, the California Legislative Analyst’s Office (LAO) announced that the state was facing budget deficits of $20 billion each year for five more years . Over the past fifteen months, California responded to a total budget deficit of $77 billion with a combination of cuts in spending, increases in taxes on working people, federal economic stimulus monies and accounting tricks.

Picket demands “Tax the rich”

St. Paul, MN – Members of the Welfare Rights Committee and the Minnesota Coalition for a People’s Bailout gathered in the state capitol building, Dec. 2, outside the room where Minnesota Management and Budget department heads presented the ‘November Forecast,’ projecting a $1.2 billion deficit.