January 28, 2009
It’s no secret that our economy is in deep trouble and that various options for its rescue and resuscitation have been a topic of strenuous debate for months. Banks and the auto industry have received billions., both having made the case, at least to government leaders, that they are too important to the American economy to fail.
In a recent New York Times opinion article John Bridgeland and Bruce Reed point out the importance of non-profits to the nation’s economy. Bridgeland and Reed reveal that, with 9.4 million paid workers and nearly five million volunteers, non-profits comprise 10 percent of America’s workforce – more than the auto industry and the financial industry combined. And just as those industries are feeling the pain of our economic woes, the non-profit industry is even more deeply distressed by fewer charitable donations, state and local budget cuts and an increase in demand for services.
With non-profit organization playing such a vital role in our economy and especially in times of need for those in need, should government invest in non-profits as part of TARP (Troubled Asset Relief Program)?
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