The Fed Bows Out

Focus of Federal Government
Has Shifted

Allan MallachIn an October 25, 2013 Rooflines blog post, Allan Mallach, National Housing Institute senior fellow, writes, “The Fed Bows Out: We’re On Our Own.” Many would agree that the conversation about the federal government has changed over the past few weeks.

Argues Mallach, the recent federal government shutdown signifies the end of “an era when the government was deeply engaged in addressing the social and economic issues of the nation, the future of its cities, and the fundamental inequalities of condition and opportunity that remain so much part of our society.”

Says Mallach,

“With neither Democrats nor Republicans seriously willing to consider increasing taxes, and with both preoccupied with the national debt, domestic discretionary spending will be an increasingly smaller share of the pool. As in recent years, advocates’ energy will be drained fighting to hold onto what little we have, rather than fighting for progressive change.”

Mallach remains optimistic about the long-term future and the possibility of a “national movement” but says that in the meantime, those who depend on the shrinking federal funding pipeline will be fighting harder over what is left.

He concludes, “We’re on our own.”

Click here to read the entire post.