Weathering the Weathering the Economic StormEconomic Storm

ScriptureSystemic response to crisis

Nehemiah 4:13-14....After I looked these things over, I stood up and said…”Do not be afraid of them. Remember the LORD, who is great and awesome, and fight for your kin, your sons, your daughters, your wives and your homes.”

Exodus 14:13-14But Moses said to the people, “Do not be afraid, stand firm, and see the deliverance that the LORD will accomplish for you today; for the Egyptians whom you see today you shall never see again. The LORD will fight for you, and you have only to keep still.”

Genesis 41:25-45Let them gather all the food of these good years that are coming, and lay up grain under the authority of Pharaoh for food in the cities, and them keep it. That food shall be a reserve for the land against the seven years of famine…so that the land may not perish through the famine.

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2008…2008…

JOBS: 2.6 million jobs lost (worst since 1945)1

HOUSING: 2.3 million foreclosures2

HEALTH CARE: 5.9 million people estimated to have lost employer coverage3

Sources1 Bureau of Labor Statistics www.bls.gov2 RealtyTrac Inc. 3 John Holahan & A. Bowen Garrett, Rising Unemployment, Medicaid and the Uninsured, The Urban Institute, Jan. 2009

[Insert LOCAL and or State data][Insert LOCAL and or State data]

[Unemployment][Foreclosures][Uninsured]

Jobs, housing and health care are Jobs, housing and health care are interconnectedinterconnected

The trends The trends ifif we don’t we don’t take action to make the take action to make the

economy work for economy work for families….families….

Unemployment is expected to Unemployment is expected to increase in 2009increase in 2009

Projected number of foreclosures over the Projected number of foreclosures over the next four years with or without action to next four years with or without action to stop preventable foreclosuresstop preventable foreclosures

Source: Credit Suisse, Foreclosure Update: over 8 million foreclosures expected, December 4, 2008

3.9 million preventable foreclosures!

The impact of foreclosures is The impact of foreclosures is nationwide but concentratednationwide but concentrated

If unemployment reaches 10% If unemployment reaches 10% 13.2 million people could lose their 13.2 million people could lose their

Employer-Sponsored Health Insurance (ESI)Employer-Sponsored Health Insurance (ESI)

Source: John Holahan & A. Bowen Garrett, Rising Unemployment, Medicaid and the Uninsured, The Urban Institute, Jan. 2009

How is the economic crisis How is the economic crisis impacting you and your family?impacting you and your family?

What are you hearing from your What are you hearing from your friends, neighbors and others in friends, neighbors and others in your congregation?your congregation?

Where can people go for help in Where can people go for help in our community? our community? What resources are available?What resources are available?

What can we do together?What can we do together?

Breaking the Breaking the cycle!cycle!

Irresponsible Lending (one of many factors…)

Why breaking the cycle is harder Why breaking the cycle is harder nownow

Cities cut their budgets in recessions

States cut their budgets in recessions

Only the Feds can spend to stimulate the economy

Some of the things in the Some of the things in the proposed economic stimulus bill…proposed economic stimulus bill…

Community Development Block GrantsRenovation of vacant foreclosure homesCommunity Health CentersCommunity PolicingGreen jobsImproving teacher qualityJob trainingHome weatherization

We can help break the cycle and We can help break the cycle and come out stronger at the end, if come out stronger at the end, if we work together in our we work together in our cities and cities and countiescounties, , statesstates and and nationallynationally..

PICO’s Equitable Economic PICO’s Equitable Economic Recovery StrategyRecovery Strategy

What can our What can our cities and countiescities and counties do? do?

Big local questionBig local questionWhat big project would your organization like to see

funded in your city?

What can our What can our statesstates do? do?

What can the What can the federal government federal government do?do?

Key next stepsKey next steps

Together our faith communities Together our faith communities can be powerful bridges to jobs, can be powerful bridges to jobs, housing, health care and other housing, health care and other important needs at a time of important needs at a time of crisis.crisis.

If we do this we can not only ease If we do this we can not only ease the pain, but we can end up on the the pain, but we can end up on the path to rebuilding the middle class path to rebuilding the middle class in the United Statesin the United States