New Report Warns Against “Bubble” Economic Recovery

WASHINGTON - A new report released today by Bread for the World Institute warns that
unless the triple threats of hunger, unemployment, and climate change
are addressed, any economic recovery will only lead to another bubble.

“To
blunt the surge of hunger, unemployment, and the long-term effects of
climate change, we need a just and sustainable economic recovery,” said
Rev. David Beckmann, president of Bread for the World Institute. “If we
do not reshape our economy with jobs that allow low-income workers to
feed their families and move out of poverty, our recovery will not be
sustainable. Like a bubble, it will only collapse again.”

According to the new report, Hunger 2010: A Just and Sustainable Recovery,
more than 1.02 billion people are hungry every day – an increase of
more than 100 million from a year ago. In the United States, the number
of people who struggle to put food on the table has surged to 49.1
million. “It’s deeply disturbing to think that nearly one in four
children live on the brink of hunger in this country,” said Rev.
Beckmann. “It’s a scandal for us as the richest country in the world.”

Unemployment
is also on the rise, with one in ten Americans out of a job. The report
stresses that for a sustainable economic recovery, we need to put
people back to work. It argues that dollar for dollar, one of the best
investments the United States can make is to create green jobs focused
on lowering carbon emissions. “The jobs that will help us convert our
economy from reliance on fossil fuels to alternative energy sources
could more than surpass the 4 million manufacturing jobs lost since the
start of the recession,” Rev. Beckmann added.

“Climate change is
real and we have to deal with it,” said Rev. Beckmann. “Governments
negotiating a new climate treaty must make concrete commitments at the
climate change conference in Copenhagen in early December. The world’s
economic recovery will remain fragile if we do not take steps to
address climate change. Hungry and poor people are the most vulnerable.
More than anyone else, they are bearing the brunt of the effects of
climate change.”

The report analyzes the issues that need to be
addressed in order for the U.S. and global economies to recover from
the worst economic crisis since the Great Depression. It highlights the
opportunity to put in place policies that reduce inequality, help
low-income families to save and build assets for the future, and
revitalize neglected communities throughout the country.

Hunger 2010: A Just and Sustainable Recovery
also makes the case for U.S. leadership in reducing hunger and poverty
around the world and in addressing climate change. “The economic crisis
has given us an unprecedented opportunity to rebuild our economy and to
put people and the planet at the center of our decisions,” said Rev.
Beckmann. “It is important that the economic recovery be measured by
how many of the world’s poorest people are able to lift themselves out
of chronic hunger and poverty.”