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For Immediate Release
April, 09 2021, 12:00am EDT
Contact:
press@groundworkcollaborative.org
Statement: Groundwork Applauds the Biden Administration's Bold Approach to Investing in Our Future
Today, Groundwork Collaborative's Managing Director of Policy and Research and Chief Economist Dr. Rakeen Mabud released a statement in response to President Biden's request to Congress to authorize an increase in federal spending in 2022 on domestic priorities:
WASHINGTON
Today, Groundwork Collaborative's Managing Director of Policy and Research and Chief Economist Dr. Rakeen Mabud released a statement in response to President Biden's request to Congress to authorize an increase in federal spending in 2022 on domestic priorities:
"Today President Biden asked Congress to invest in the future and recovery of millions around the country. By investing in critical issues such as education, public housing, COVID-19 relief, and addressing the climate crisis -- the Biden administration has taken a bold approach in addressing domestic priorities, while also heeding the lessons learned in the wake of the Great Recession.
"While it is impossible to address years of underinvestment in one bill, the Biden administration has taken a necessary step forward in the right direction. The Groundwork Collaborative applauds this stride and urges policymakers on both sides of the aisle to recognize that this budget is only the beginning of a long process to build a more inclusive economy."
The Groundwork Collaborative is dedicated to advancing a coherent and persuasive progressive economic worldview and narrative capable of delivering meaningful opportunity and prosperity for everyone. Our work is driven by a core guiding principle: We are the economy. Groundwork Collaborative envisions an economic system that produces strong, broadly shared prosperity and power for all people, not just a wealthy few.
LATEST NEWS
With Nearly 50 Boats Attacked, US Strikes Highlight ‘Pattern of Unlawful Use of Lethal Force’: Human Rights Watch
"When unlawful force is repeated over time, it risks becoming normalized."
Mar 31, 2026
The Trump administration's most recent attack on a boat in the Caribbean, which killed four people last week, "highlights a sustained pattern of unlawful use of lethal force outside any context of armed conflict, amounting to extrajudicial executions," Human Rights Watch said on Tuesday.
The US military announced last Wednesday that it had conducted its 47th attack on boats in the Caribbean and eastern Pacific. The Trump administration has presented little evidence for its claim that the targeted boats have been engaged in trafficking drugs to the United States. At least 163 people have been killed in these attacks since September 2025, all of them without trial.
Human Rights Watch is part of a chorus of international organizations and observers that have condemned the boat bombing campaign as acts of murder in flagrant violation of international law.
“These strikes aren’t one-off incidents, they’re part of a pattern of using military force where the law does not permit it, over and over again,” said Sarah Yager, Washington director at Human Rights Watch. “The fact that these strikes have faded from public attention does not make these violations any less grave or unlawful.”
The organization noted that there is no ongoing military conflict in the Caribbean or eastern Pacific that would make those traveling by boat legitimate targets.
And while the US government has provided scant evidence that those it has killed were trafficking drugs, Human Rights Watch said that even if evidence of drug trafficking existed, suspected criminals are still not lawful targets of lethal force unless they pose an imminent threat to the lives of others.
The boat strikes have continued in the background as President Donald Trump has launched attacks against Venezuela and Iran, both of which international organizations have described as acts of aggression that violate the laws of war.
Trump has also enacted a crippling economic blockade of Cuba with the explicit goal of toppling its government so the US can "take" the island, and has previously threatened to use economic leverage or the US military to forcibly annex Greenland.
“When unlawful force is repeated over time, it risks becoming normalized,” Yager said. “That’s dangerous because it opens the door to using lethal force whenever and wherever a government wishes and without constraints.”
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As G7 Weighs Measures to Confront Growing Energy Crisis, Officials Urged to Tackle 'Fossil Fuel Profiteering'
“It is obscene that companies like TotalEnergies are making enormous profits from war, while ordinary people’s lives are being shattered and the world faces a spiraling economic crisis," said one campaigner.
Mar 31, 2026
As energy and finance officials from across the European Union prepared to review energy supply levels amid the US-Israeli war on Iran on Tuesday, campaigners from a leading climate action group renewed their call for officials to go further than just releasing oil reserves in order to keep costs down.
Oil giants that have benefited from the growing global energy crisis set off by the US-Israeli attacks and Iran's retaliatory closing of the Strait of Hormuz should be held to account for their "fossil fuel profiteering," said 350.org.
After a virtual meeting of energy ministers from the G7 countries on Monday, 350.org called on officials to tax the windfall profits of companies like France's TotalEnergies, which is estimated to have made $1 billion in profits in just the last month since Iran closed the strait in retaliation for the US and Israeli attacks.
Total has reportedly "monopolized" about 70 crude oil shipments from the UAE and Oman in the last month, as Murban crude prices surged from $70 to $170 per barrel.
As Common Dreams reported Monday, 350.org released an analysis showing that spiking oil and gas prices resulting from the US-Israeli war have cost consumers and businesses more than $100 billion in the past month.
“It is obscene that companies like TotalEnergies are making enormous profits from war, while ordinary people’s lives are being shattered and the world faces a spiraling economic crisis," said Fanny Petitbon, France team lead for 350.org. "At a time of such profound human suffering, no company should be allowed to exploit chaos and conflict for financial gain. The G7’s deafening silence on these windfall profits speaks volumes, signaling a failure to hold corporate greed accountable while the rest of the world pays the price.”
Revenues from taxing windfall profits could "be used to support vulnerable households, accelerate the transition to renewable energy, and fund recovery efforts in regions affected by conflict," said Petitbon.
“The principle is clear: extraordinary profits made in times of crisis should be redirected for the public good, not concentrated in the hands of a few," she said.
The ministers from the G7 countries—which include the United States, Canada, Japan, Britain, France, Germany, and Italy—met virtually to discuss how the war in Iran is affecting energy and commodity markets and inflation. They called on countries “to refrain from imposing unjustified export restrictions” on oil and gas, but did not announce any specific steps they plan to take.
"We stand ready to take all necessary measures in close coordination with our partners, including to preserve the stability and security of the energy market," the ministers said in a statement. "We recognize the importance of coordinated international action to mitigate spill overs and safeguard macroeconomic stability."
Earlier this month, the International Energy Agency coordinated the release of 400 million barrels of oil to mitigate the supply shortfall caused by the closing of the Strait of Hormuz, from which about one-fifth of the world's oil supply flows.
But gas prices across Europe have continued to rise by 70% nonetheless. In the US, the average price of gas rose to $4 per gallon on Tuesday for the first time since August 2022.
Brent crude oil, which cost about $70 per barrel before the war, has gone up to $119 per barrel, and analysts are projecting prices as high as $200 as the conflict continues.
Monday's virtual summit was held ahead of an emergency meeting of EU energy ministers, who were told by EU Energy Commissioner Dan Jørgensen in a letter Monday that they were "encouraged to make timely preparations in anticipation of a potentially prolonged disruption" of energy imports.
Jørgensen emphasized in a video posted on social media Monday that the growing energy crisis underscores how a transition away from oil and gas toward renewable sources is crucial for economies as well as the planet.
The crisis in the Middle East is affecting energy prices also here in Europe.
My message on what we must do to protect our citizens and businesses.
Now and in the future.
↓ pic.twitter.com/jiLmavxV8K
— Dan Jørgensen (@DanJoergensen) March 30, 2026
"We will need immediate targeted measures to combat this crisis, but all of these measures need to be in line with our long-term strategy, which is more renewables as fast as possible," said Jørgensen.
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Hegseth Broker Reportedly Tried to Make 'Big Investment' in Weapons Stocks Just Before Iran War
"In a functional democracy, he would offer his resignation tonight."
Mar 31, 2026
A broker for Pentagon Secretary Pete Hegseth reportedly tried to make a "big investment" in a bundle of weapons stocks just weeks before the US and Israel launched their war on Iran, an unpopular assault that Hegseth has aggressively championed.
Citing three unnamed people familiar with the matter, The Financial Times reported on Monday that Hegseth's "broker at Morgan Stanley contacted BlackRock in February about making a multimillion-dollar investment in the asset manager’s Defense Industrials Active ETF... shortly before the US launched military action against Tehran." The bombing began on February 28.
A spokesperson for the Pentagon denied the story, calling it "entirely false and fabricated" and insisting that neither Hegseth nor any of his representatives approached BlackRock about such an investment. But the FT reported that the broker's "inquiry on behalf of the high-profile potential client was flagged internally at BlackRock."
The investment was not ultimately made because the fund—which includes behemoths such as RTX, Lockheed Martin, Boeing, and Northrop Grumman—was not available for Morgan Stanley clients to buy at the time.
The purchase would not have been immediately lucrative: Over the past month, the Defense Industrials Active ETF is down over 12%. But the reported allegation that Hegseth's broker sought to make the largest investment in the weapons industry set off alarm bells, particularly amid growing concerns that Trump administration officials are using inside knowledge and manipulating markets to cash in on the war.
"You know, back when the [US government] gave a damn about anti-corruption, this is something we would've seen as a 'no no,'" said Richard Nephew, a former anti-corruption coordinator at the US State Department.
Economist Justin Wolfers wrote of Hegseth that, "in a functional democracy, he would offer his resignation tonight."
Instead, Pentagon spokesperson Sean Parnell demanded that the FT issue an "immediate retraction," dismissing the newspaper's story as "yet another baseless, dishonest smear designed to mislead the public."
Hegseth has emerged as the most prominent and belligerent cheerleader of the Iran war in the US, and—according to President Donald Trump—the Pentagon chief was the first of the president's advisers to "speak up" in favor of the assault during the internal decision-making process.
Trump has also suggested Hegseth does not want the war to end, saying last week that the Pentagon chief was "quite disappointed" when the president claimed the conflict would be over shortly.
"I don’t want to say this, but I have to," Trump told reporters at the White House. "I said, Pete and General Razin’ Caine, this thing is going to be settled very soon, and they go, ‘Oh, that’s too bad.'"
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