Zachary Kolodin

 

Recent Posts by Zachary Kolodin

  • New York as a Model for Public Works? Hamptons Institute Panelists Weigh In

    Jul 23, 2012Zachary Kolodin

    In this era of budget fights and tepid growth, do the old models for building in the public realm still work? Or does the public-private, entrepreneurial, bootstraps model represented by New York City's High Line represent the most viable way forward?

    In this era of budget fights and tepid growth, do the old models for building in the public realm still work? Or does the public-private, entrepreneurial, bootstraps model represented by New York City's High Line represent the most viable way forward?

    These are the kinds of questions we must resolve before we can take steps forward in our cities, and panelists at the Hamptons Institute grappled with them on Saturday. Paul Goldberger, Pulitzer Prize-winning architecture critic and writer for Vanity Fair, hosted a panel with Robert Hammond, co-founder and executive director of Friends of the High Line, Leslie Koch, president of The Trust for Governors Island, and Joe Rose, partner of the Georgetown Group and former chairman of the New York City Planning Commission and director of the Department of City Planning under Mayor Rudolph W. Giuliani.

    The impediments to the construction of truly public infrastructure in New York mirror those in the rest of the country. Rose pointed to the ongoing contraction in previously inflated industries like financial services as a major drain on tax revenue and to unfunded fiscal obligations such as pensions for retired city workers as the main forces suppressing New York’s capacity to spend on infrastructure. As in the rest of America, revenue is not going to suddenly rebound without major policy changes, and our political leaders are rightly hesitant to renege on pension commitments at a time when trust in government is already at perilous lows.

    And yet New York has regenerated so much of its public realm in the last 35 years, an era that began with the city's near-bankruptcy in 1975 and included existential challenges such as 9/11. During this time, New York has rediscovered its waterfront, reimagined Times Square and Columbus Circle as centers of commerce rather than seedy interchanges, and opened Governor’s Island as the city’s playground, to name just a few. The city has proven time and again that you don’t need massive surpluses — or even full control over your own budget — to undertake the kind of projects that keep a place great year after year. The current presidential administration could find inspiration for what is possible by looking to what the city has accomplished in spite of its constraints.

    Entrepreneurs like panelist Robert Hammond can serve as inspiration for civic-minded Millennials. He identified a problem in his local community, the impending demolition of the old rail line running through Chelsea, learned about the issue and recruited allies by attending community board meetings, and then launched an innovative effort to save the rail line by transforming it into what we now know as the High Line. Rose opined that the traditional civic preservation groups could never have built the High Line. It took an out-of-the-box thinker and an out-of-the-box strategy to do it. This is the impetus behind programs like the Roosevelt Institute’s Pipeline. Since Millennials don’t have the same civic infrastructure that previous generations did, they have to build it themselves. Bringing together young potential entrepreneurs as Pipeline does is the best hope that the projects like the High Line will not be a flash in the pan, but rather a sustainable urban development strategy.

    The High Line offers much to emulate, from its high profile launch to its design as an active space that pushes hordes of both residents and tourists not merely to observe but to interact. It stands out as the kind of innovative thinking and tenacious execution that America’s cities so desperately need. However, Rose argued that truly public works are still essential to solve the 21st century challenges the city faces, like a decaying public transit system. Simply put, no public-private partnership is ever going to build heavy rail in this country.

    Panelist Leslie Koch offered hope that publicly funded projects can not only still get done, but be innovative game-changers for life in the city. As recently as 2006, there were only 7,000 people who visited Governor’s Island all year. On Saturday, when the panel began, there were 8,000 on the island. Moderator Paul Goldberger put the success of Governor’s Island in perspective, calling it “the most ambitious piece of pubic realm development that we will see in our lifetimes.” Ms. Koch explained that places like Governor’s Island were more essential than ever in contemporary New York City since the most creative people have been priced out of Manhattan. The city needs to create new places for them to congregate in order to reap the full benefits of having the highest density of creative people in the country.

    The panelists discussed the challenges that lie ahead for the city, including the need to sustain immigration rates in order to provide the flows of intellectual and financial capital that are the city’s lifeblood. When asked if big public works could be next for New York, Mr. Rose suggested extending more public transit access to the city’s airports, Ms. Koch argued that maintaining the overall quality of the transit system in relation to other world cities' was essential, and Mr. Hammond suggested expanding bike access throughout the city not only as a transit and environmental strategy, but also to continue to attract the young talent that could sustain the city’s greatness for the next generation.

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  • A Call to Address Climate Change and Revitalize American Communities at the Same Time

    Jun 2, 2011Zachary Kolodin

    electric-tower-150As the Roosevelt Institute Campus Network releases its progressive, practical Budget for a Millennial America, those who helped craft it will explain their innovative ideas and tough choices in a

    electric-tower-150As the Roosevelt Institute Campus Network releases its progressive, practical Budget for a Millennial America, those who helped craft it will explain their innovative ideas and tough choices in a series of posts. Zachary Kolodin explains why the Millennial generation cares about creating a green manufacturing economy -- and how they plan to do it.

    Addressing America's budget challenge is fundamentally about putting our country on a path to sustainability. Fortunately for us, achieving fiscal balance is not at odds with addressing America's other major sustainability challenge: climate change. Millennials see climate change as a paramount challenge for our generation. But too often, climate and environmental advocates are unwilling to listen to community voices that are invested in a quality of life based on unsustainable practices. Millennials also recognize that in order to implement any transformative policy, we must listen to those who may be hurt by reform and invest in them. We have proposed a set of tax reforms and investments to ensure that the 21st century green economy comes to fruition not just in the wind energy-rich Midwest or the solar-rich Southwest, but all across the country.

    With almost every non-partisan expert adamant about the dire consequences of inaction on addressing the environment, Millennials believe that the scientific evidence in support of climate change is too convincing to ignore. We will bear most of the costs if the United States fails, but we are also prepared to carry the burden of mitigating this threat. The Roosevelt Institute Campus Network recommends the introduction of an upstream carbon tax of $23 per ton of carbon dioxide equivalent beginning in 2012. This price will increase by 5.6% each year, which is consistent with the EPA's conservative estimates of the social cost of carbon. The CBO has also projected that it will reduce emissions by 36% of projected levels by 2026, setting us on a path to responsible levels of emissions over the long term.

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    It is a clear moral imperative to reverse the tide of climate change, but Millennials recognize that we cannot do so without assisting hard-working Americans who may be hurt by the decline of the fossil fuel industry. Places like the oil-producing Gulf Coast and the coal-rich Appalachian region would be especially hard hit. In order to spur the development of alternative industries less dependent on the carbon economy in these regions, we recommend a revitalization program specifically targeted at them called America's Revitalization for Areas Adversely Affected by the Carbon Tax (ARPACT). Governors, planning commissions, and other government and non-governmental organizations will be eligible to apply for ARPACT grants. Roosevelt recommends making $45 billion in grant funds available to carbon-dependant communities every year from 2013-2021.

    Finally, Millennials believe that it is imperative that the United States excels in the field of green jobs and sustainable consumption. That is why much of the revenue generated from our carbon tax will go to substantive investments in the new economy of green manufacturing. Robust federal investment in sustainable consumption will ensure that the transition to a low-carbon economy can be relatively fluid, ensuring that we move from carbon-intensive manufacturing to a more sustainable future. We do not argue that the challenge of minimizing global warming will be easy or painless. However, we see it as the responsibility of our generation, and mankind more generally, to protect the ecosystem and ensure that our children enjoy the same luxuries we have.

    Zachary Kolodin is the Director of the Future Preparedness Initiative at the Roosevelt Institute.

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  • Millennials Demand a Stronger, More Flexible Safety Net

    May 27, 2011Zachary Kolodin

    jobless-man-150As the Roosevelt Institute Campus Network releases its progressive, practical Budget for a Millennial America, those who helped craft it will explain their innovative ideas and tough choices in a series of pos

    jobless-man-150As the Roosevelt Institute Campus Network releases its progressive, practical Budget for a Millennial America, those who helped craft it will explain their innovative ideas and tough choices in a series of posts. Zachary Kolodin envisions a safety net that grows stronger in recessions to catch those falling out of the workforce.

    I graduated from college in 2007, entering the job market just as it was teetering toward collapse, and have been incredibly fortunate to have a job during this tumultuous time. But I have watched dozens of my friends -- capable, engaged people -- struggle with job loss, unemployment, financial problems, and debt during these critical formative years. This has been the experience of almost every Millennial in the job market since the Great Recession swept away the economic growth of the 1990s and 2000s.

    As a result, Millennials grasp the importance of having a strong social safety net better than any generation in recent memory. Having experienced the economic storm viscerally, my generation has come to understand the importance of unemployment benefits and subsidized health insurance, and the difficulty of acquiring new skills in America once you're unemployed.

    During the worst of the recession, and even now as unemployment hangs uncomfortably at 9%, Millennials have found America's safety net in retreat just as it is needed most. State budgets, which fund many core social programs, dry up in economic downturns, leaving people in need with no where to turn. The Roosevelt Institute Campus Network found Millennials wanting a safety net that grows stronger during difficult times, providing even more robust benefits, rather than shriveling up when budgets face challenges.

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    In the past 30 years, the American economy has become more dynamic, more service-oriented, and more unpredictable. Yet the institutions that make up our social safety met have remained largely unchanged. Millennials want to remedy this oversight. The safety net should provide basic insurance for everyday Americans against the exigencies of a dynamic, flexible economy. Furthermore, it should help Americans rebound when their careers are sidetracked by industrial shifts out of their control.

    To accomplish these essential goals, the Budget for the Millennial America proposes two key additions to the safety net:

    1. An automatic stimulus plan that ensures states can continue to provide much-needed social services even when tax revenues dry up during recessions.
    2. A new kind of worker retraining program designed specifically for the 21st century economy.

    The recent recession proved that states do not have the tools they need to fight downturns when they occur. Combining an auto-stimulus plan with a State Budget Bank that can provide lending to states to fill budget holes during economic downturns will give them the firepower they need to continue to support health insurance for the elderly, needy, and young, and to keep education strong during tough times. Without this change, we can expect to once again see American society begin to unravel at the seams during recessions.

    Zachary Kolodin is the Director of the Future Preparedness Initiative at the Roosevelt Institute.

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  • Want to Reduce the Federal Debt? End Too Big to Fail

    May 26, 2011Zachary Kolodin

    too-big-to-fail-license-plate-banker-new-yorkAs the Roosevelt Institute Campus Network releases its progressive, practical Budget for a Millenn

    too-big-to-fail-license-plate-banker-new-yorkAs the Roosevelt Institute Campus Network releases its progressive, practical Budget for a Millennial America, those who helped craft it will explain their innovative ideas and tough choices in a series of posts. Zachary Kolodin calls on the US to both rein in Wall Street and expand access to capital.

    American politicos have discovered that our national debt is rising but haven't come to grips with how we got here and how to prevent it from happening again. When the Roosevelt Institute Campus Network started preparing its Budget for the Millennial America, we wanted to find solutions that not only dig our way out of a fiscal ditch, but also prevent the U.S. from again stumbling into that hole. This approach embodies the Millennial Generation's desire to build a prosperous future, rather than just get by crisis to crisis.

    We identified four key drivers of the debt: rising health care costs, the Bush-era tax cuts, wars of occupation without clear goals, and financial sector instability. What stood out to us about problems in the financial sector was that the Congressional Budget Office doesn't take them into account. Stock market crashes that wipe out trillions in savings and jobs? Not scoreable by the CBO. Unprecedented bailouts costing hundreds of billions of dollars? Not scoreable. So you won't see financial sector reform in most budget hawks' agendas. In fact, Paul Ryan's budget rolls back the reforms in the Dodd-Frank bill. But we all saw what happened in 2008 and 2009 when the Wall Street collapse demanded hundreds of billions of federal dollars, and dragged the rest of the economy down with it. We know that we can't claim a responsible federal budget until we stop promising to bailout the big banks. So we started thinking about how our budget proposal could stabilize the financial system.

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    If big banks are too powerful to be effectively regulated by the various agencies in charge of regulating them, then we had to find another way. Our answer was simple: make being "Too Big to Fail" unprofitable. Our budget proposes a 25% financial activities tax on institutions exceeding $200 billion in assets. This tax would affect the top 12 largest banks in the United States, forcing them to split up their activities into new companies. These new companies would pose significantly less risk to the global financial system, since they would no longer be "too big to fail."

    Having experienced the fallout of an under-regulated, bubble-chasing financial sector, Millennials are committed to making the Wall Street of the 21st century a vehicle for strengthening America. The "Too Big to Fail" tax is the first step in that journey, but it doesn't stop there.

    The Blueprint for the Millennial America, which was the basis for creating the budget, calls for a level playing field for entrepreneurship. One of the foundations is equitable access to capital. Yet, despite its remarkable growth in the past 20 years, U.S. banking has not improved this access. Now that we are devoting 17% of U.S. GDP to banking, can we claim even a single improvement in the allocation of capital?

    Moving forward, we recommend new public policy that leverages the expertise of the financial sector to ensure better access to capital for all Americans -- particularly in our rural areas and inner cities. The Intersect Fund, a nonprofit organization started by Roosevelt Campus Network alum Joe Shure that provides microloans to jumpstart social mobility through entrepreneurship, offers a small-scale model for what the financial sector can achieve on a large scale. The Budget for the Millennial America offers the promise of an America in which the financial sector again empowers Americans, rather than causing anxiety over the federal debt. As we work toward that goal, let us not be confined by the 21st century paradigm of concentrated capital. The America we inherit can be one of democratized access to capital.

    Zachary Kolodin is the Director of the Future Preparedness Initiative at the Roosevelt Institute.

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  • Progressives Can Fight Budget Battles with a Home Field Advantage

    May 25, 2011Zachary Kolodin

    money-justice-scalesAs the Roosevelt Institute Campus Network releases its progressive, practical Budget for a Millennial America, those who helped craft it will explain their innovative ideas and tough choic

    money-justice-scalesAs the Roosevelt Institute Campus Network releases its progressive, practical Budget for a Millennial America, those who helped craft it will explain their innovative ideas and tough choices in a series of posts. Today Zachary Kolodin argues that progressives should be fighting over the budget on their own terms.

    Congressional squabbling over the federal budget can seem like a bunch of noise and politicking. But the federal budget provides a healthy, proactive way to demonstrate progressive priorities. Sure, we can call foul in response to every cut proposed by the GOP. But we'd rather be able to make a full-throated argument for the budget we want -- not just in 2012, but in 2016, 2020, and so on. Using the budget to reveal a path to progress, rather than allowing our opponents to use it as a weapon, is not only possible, but is an effective tactic.

    So how can we do this? First, outline a progressive vision for the future. What does our world look like? Second, show people how we can start building the road to get there. There's no credibility unless there is a road.

    How does something as supposedly grim and boring as a budget do this? It is vehicle for making our goals concrete and achievable. Try telling someone that you can prove America can fully repay the loans of talented Americans willing to become great teachers, provide universal kindergarten, and that we can afford it. Not only that, but we can simplify our tax system and ensure that middle- and low-income people pay the same or less than they already do.

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    It also bolsters our cries of foul play when the GOP tries to cut education or Social Security using "fiscal responsibility" as their justification. We can feel confident when we push back because we have our own fiscally responsible plan. If conservatives fight it out on this turf, we don't need to ask for a change in playing field. We can go head to head on their ground.

    The time is ripe for this conversation. Discussing the federal budget after a financial crash that caused the Great Recession allows us to tell a story about how we got to this point. Hate national debt? Then let's fix American banking so we're not left saving Wall Street fat cats again. Hate spending so much on Medicare? Okay, let's make sure that health care reform works, because there aren't any other plans that chart a path to affordable health care and lower costs.

    We aren't going to win arguments with the right by allowing them to dominate key narratives like the story of the federal budget. This is an argument we should want to have because we can win. It allows us to tell a very specific story about why we are where we are and how we can get where we want to go.

    We at the Roosevelt Institute Campus Network want to have these conversations. That's why we asked more than 3,000 young people to outline their vision for America in 2040. And that's why we convened our 20 top student policy experts to create a federal budget proposal based on these findings. Over the next week, we'll be posting a series that touches on different aspects of the Budget for the Millennial America. Be sure to check in tomorrow.

    Zachary Kolodin is the Director of the Future Preparedness Initiative at the Roosevelt Institute.

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