Divisiveness and The Economic Challenges of 2021
Kevin M. Bahr CBEI Chief Analyst; Professor of Business School of Business and Economics
The divisiveness in America is significant and undeniable. It stretches across politics, race, gender, religion, and economic issues. This article takes a look at a few of the economic challenges of 2021, and also incorporates the divisiveness issue into the discussions. Check out the CBEI blog on uwsp.edu/cbei for an expanded discussion of the economic challenges of 2021. For many economic challenges, the overall economic health of the country would greatly benefit if divisions could be reduced. Not differences, but divisions. The blog includes links to the referenced sources for further information. Challenges can be met and the United States can accomplish much when political divisions are set aside and the focus is on helping the American people. The Bipartisan Policy Center provides an impressive list of historic accomplishments when Democrats and Republicans worked together to improve the lives of Americans. Listed below are some of those accomplishments: • 1964 Civil Rights Act – A civil rights bill proposed by congressional Democrats and supported by the Johnson administration needed significant bipartisan support to pass and become law. Democratic majority leader Mike Mansfield worked with his counterpart, Republican Senator Everett Dirksen, to get the bill passed. • 1969 Moon Landing - The National Aeronautics and Space Administration (NASA) was created in 1958 through bipartisan Congressional support. NASA led the development of the U.S. space program, resulting in the 1969 launch of Apollo 11 and Neil Armstrong walking on the moon. • 1983 Social Security Reform – In the early 1980s, the Social Security Trust Fund was trending toward a deficit. Party leaders Republican Senator Bob Dole and Democratic Senator Daniel Patrick Moynihan led a bipartisan group of legislators that were able to translate recommendations into legislation that financially strengthened and reformed Social Security. • 1990 Americans with Disabilities Act – Long overdue, the Act finally made it illegal to discriminate against people with disabilities. The Act was passed with bipartisan support; Republican Senator Bob Dole and Democrat George Mitchell played leading roles in the Act’s passage. • 2010 Tax Deal – The 2003 Bush Tax cuts were set to expire at the end of 2010, unless extended by Congress. The Obama administration worked a bipartisan compromise that kept the tax cuts in place but increased the rate in the top tax bracket.
And now, the challenges for 2021.
Central Wisconsin Report - Fall 2020
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