PDA January Membership Meeting-- "Public Banking: Should Arizona Move Its Money?"

Following the Wall Street crash and the housing market collapse a few years ago, the Move Your Money campaign encouraged millions of Americans to take their money out of big commercial banks and hold the funds locally in credit unions and community banks.

Is it time for state governments to move their money?

Across the US, millions of dollars of taxpayer funds are held in big commercial banks and invested on Wall Street. If Arizona had a public bank, the state’s rainy day funds would be held and invested in Arizona.

Local investment of state funds translates into jobs and a stronger economy. An Arizona public bank could create jobs by investing in public works projects, can boost entrepreneurship by backing small business loans through community banks, can build our state’s future by helping finance college loans—and much more. Isn’t it time that Arizona invested in Arizona—instead of Wall Street?

Come to the January 23, 2014 meeting of Progressive Democrats of America (PDA) Tucson Chapter to learn how public banking can build Arizona’s economy and benefit Arizona’s citizens. Jim Hannley and Pamela Powers Hannley, newly appointed co-chairs of the Arizona Public Banking Coalition, will discuss the benefits public banking and what it would take to create a public bank in our state.

Special guest Tucson Councilwoman Karin Uhlich will describe the City of Tucson’s Move Your Money pilot project. In 2013, the City Council moved $5 million of the City’s rainy day fund from a big commercial bank to a community bank to encourage local business development.

PDA Tucson Chair Phil Lopes will update attendees on other progressive activities and issues. February 2014 marks PDA Tucson's third anniversary.

What: PDA Tucson General Membership Meeting

Where: Ward 6 Office, 3202 E. 1^st St., in midtown.

When: January 23, doors open at 6:30 p.m., program starts at 7 p.m.

Light refreshments.  

Related Links:

Public Banking Institute

Bank of North Dakota

Can Public Banking Spur Economic Growth in Southern Arizona?

Can Public Banking Spur Economic Growth in Southern Arizona?

Tucson is one of the most impoverished cities in the country—for many reasons. The Arizona Legislature—driven by the American Legislative Exchange Council (ALEC) and short-sighted, “small government” ideology—has routinely swept funds earmarked for counties and cities to “balance” the state’s budget or fund pet projects like lower corporate taxes.

Beyond the Legislature’s negative impact on Baja Arizona, the Tucson economy is not diversified enough. Manufacturing is nearly non-existent in Southern Arizona. There is an over-reliance on defense spending, University of Arizona spin-offs, tourism, low-wage service jobs, and growth/development. During the Great Recession, multiple income streams for our local economy were dramatically reduced or eliminated—resulting in the loss of hundreds, if not thousands of good-paying jobs due to budget cuts, business closures, and the housing market crash. People and jobs left the area.

In August, the Arizona Daily Star ran a week-long series on multiple aspects of poverty in Southern Arizona and just this week, the Star ran a story that stated Tucson was second only to Detroit in the proliferation of crappy, low-wage jobs. In a survey of 52 metro areas with over 1 million residents, Tucson was in the top 10 for job creation; the problem is that more than half of the projected 28,000 new jobs will pay less than $13.84/hour. (If you really want to be depressed, check out the list of Tucson’s fastest growing occupations here. None of these jobs requires a college education. Thanks to TREO’s efforts, telemarketer is #1. Thanks to Tucson’s ample supply of old folks, the next four most popular jobs are low-wage health/caregiver positions. We won’t break the cycle of poverty in this city with a jobs picture like this.)

So, we know that our city has big economic challenges. Now what?

2012: PDA Tucson Reviews a Year of Activism

Two years ago, February 2011, the Tucson Chapter of Progressive Democrats of America (PDA) was launched. It has been a busy two years, but 2012 was particularly active, as PDA Tucson sponsored events and worked with other left-leaning local groups in support of their activities.

Here is a look back.

January 2012

PDA Tucson defends Occupy Tucson with a Letter to the Editor of the Tucson Weekly.

PDA Tucson joins other PDA Arizona chapters in tabling at the Arizona Democratic Party State Committee Meeting and participates in the ADP Progressive Caucus.

February 2012

PDA Tucson hosts a forum on public banking with the sponsor of HB2104, which would establish a public bank in Arizona. When the bill was heard in committee, PDA Tucson steering committee members testified in favor of it.

PDA Tucson steering committee members participate in national PDA meeting in Winslow.

John Nichols, of The Nation, tells a packed house at the IBEW Hall in Tucson about the Uprising in Wisconsin at an event sponsored by PDA Tucson and the Pima Area Labor Federation. This comes as workers are attacked with six anti-union bills in the state Legislature, and labor supporters take to the streets.

PDA Tucson, Physicians for a National Health Program, and the Alliance for Global Justice  co-sponsor Single-Payer Healthcare and the 99%-- A Public Forum which features talks by Dr. Margaret Flowers and Kevin Zeese JD.

March 2012

PDA members protest with unionists, Occupiers, and other labor supporters against anti-worker bills in the Arizona Legislature.

How progressive is Tucson?

Tucson has a reputation of being Arizona's hotbed of liberal thought, old hippie ideas, great music, and eclectic art, but how progressive is Tucson?

Pretty darn progressive...

- Recently 341 Pima County residents were elected as precinct committee people (PCs). These volunteers represent the Democratic Party's ground game. They show up to walk, they make phone calls for candidates, and they donate to candidates and issues. Of the 341 newly elected PCs, 81 or 24% are affiliated with Progressive Democrats of America's (PDA) Tucson Chapter. This includes six of the eight people who serve on the PDA Tucson Steering Committee (some of whom are pictured here with other PDA state and national leaders.)

- Tucson's PDA Chapter is the largest in the state, and one of the largest in the country.

- PDA Tucson has sponsored or partnered with others to support public events related to the People's Budget 1,2,3 (as opposed to the military-industrial complex's budget), union busting, single payer healthcare, public banking,open primaries, clean elections and the end of Citizens' United, job creation by promoting local business, the Robin Hood Tax, corporate personhood, theOccupy movement, immigration reform and the end of SB1070, and other Main Street issues.

- PDA Tucson is bringing progressive issues to local candidates through the Brown Bag Lunch Program.

- PDA Tucson is partnering with Tucson MoveOn and The Screening Room to create the first-ever Tucson Progressive Film Festival, October 26-28.

If you want to learn more about this burgeoning progressive movement or be added to our mailing list, check out PDA Tucson's blog or Facebook page or the PDA national website.

You can be the change you want.

This post originally appeared on Blog for Arizona.

Important Discussion of Banking in Today's Arena

Please watch this discussion of banking in public life given by the Rolling Stone's Matt Taibbi and Naked Capitalism's Yves Smith on a recent Bill Moyers Show. 

This material certainly frames and explains why we need public banking NOW!

http://www.rollingstone.com/politics/blogs/taibblog/taibbi-joins-yves-smith-on-moyers-20120625

PDA Tucson Economic and Social Justice Team

Saturday, June 23, 2012

Ward Six Council Office, 3202 E. First St., Tucson, AZ

10 AM – Noon

Present:  Harvey Akeson, Marjie Baker, Warren Demming, Richard Fridena, Jim Hannley, Phil Lopes, Susan Willis, Richard Brodesky

Special Guest:  Caroline Isaacs, American Friends Service Committee

Most of the meeting was spent on learning about the AFSC Program on Prison Reform.  We learned about public and private prisons.  We also learned about the contractual exigencies for nearly total occupancy.  We discussed the need for sentence reform and the need to reduce prison populations.  We discussed the economic consequences of private prisons and found out that they did NOT create new jobs in the communities that welcomed them.  Intergovernmental agreements also mean that deportees are being housed with very mixed prison populations. 

The IOT decided to collaborate with AFSC.  We will put questions about prison reform on the instrument to be distributed to congressional candidates.  We also will publicize and participate in (as we are able) AFSC advocacy training. 

Other Business:  A report was given on the meeting with the City of Tucson Director of Economic Development on public banking.  We will be contacting one or two city council members and possibly people from Pima County. 

Scheduling was discussed.  We’d like to continue meeting at this venue, but it cannot be booked until after July 1.