In two new analyses published today, EPI's Robert Scott parses the latest data and explains why, for further progress on taming our trade debt, all eyes are now turning to Asia. Today's International Picture shows that the combination of progress on revaluing the dollar and growth abroad has begun to level international playing fields. Today's Economic Snapshot, which compares the dollar's value against the currencies of its trading partners, shows that further gains on the trade deficit will depend on convincing Asian nations, especially China, to end policies that are continuing keep the dollar artificially high against their currencies.

Now that falling home prices and tightening lending standards have squelched mortgage equity withdrawals, a drop in consumption spending may not be far behind. This week's Economic Snapshot reviews the data behind spending and home equity loans.

How much has state spending on higher education grown in comparison to that on prisons over the past 20 years? This week's Snapshot tells the tale.

Listen to an interview with Gregory D. Squires, author of, "Do subprime loans create subprime cities? Surging inequality and the rise in predatory lending."

For same-day analysis of the latest employment report from the Bureau of Labor Statistics, read EPI's Jobs Picture.

Headlines:

• WIN Week In Review March 28-30,2008

WIN Week In Review March 28-30, 2008 By Doug Cunningham If the UAW strike at American Axle doesn’t end soon, GM will be forced in April to shut down the first auto plant shuttered by the strike. GM has already stopped or slowed down production at 29 plants involved with making trucks, vans and SUV’s. UAW workers at American Axle are the victims of an assault by the company on their wages and benefits. Because the profitable American Axle wants to cut wages in half and slash benefits, as many as 40,000 jobs could be cut from U.S. payrolls in March according to economist Brian Bethune. Bethune says that would cut three tenths of a percent from U.S. economic growth this quarter.

Headlines:

• American Axle’s Demand To Slash Workers’ Wages Could Cut 40,000 Jobs From U.S Payrolls in March
• Dem Presidential Candidates Call Out McCain On The Economy
• Four Unions In New Partnership To Put Workers Rights At Top Of National Agenda
• Economic Report: California Home Prices Drop $3000 A Week In February

Economic Report Home prices in California dropped nearly $3000 per week during the month of February. The median sales price dropped by 26 percent, the fastest decline in the country at three times the national average. According to the California Association of Realtors, Santa Barbara County saw some of the sharpest declines in home prices at an average of 39.1 percent in comparison to where they were last year.

By Doug Cunningham Four unions are forming a partnership to share resources and focus efforts on four key priorities – the Employee Free Choice Act, health care, jobs and fair trade. The Communications Workers of America, the United Steelworkers, the United Auto Workers and the International Federation of Professional and Technical Engineers say the new strategic partnership will work in "determined unity" to forge a political movement which will put workers rights and protections at the top of the national agenda.

On Thursday, the two Democrats running for President laid out how they would help the struggling economy, while targeting Republican Presidential candidate John McCain. Jesse Russell reports: The message from Presidential candidates Senators Barack Obama and Hillary Clinton on Thursday to their Republican rival Senator John McCain was clear, "what are you going to do about the economy?" Both Clinton and Obama gave speeches on Thursday laying out how they would tackle the big issues facing the economy and hitting Americans hard in the wallet. And both had strong words for McCain. Obama said the Arizona Senator’s economic plan was lacking:

By Doug Cunningham If the UAW strike at American Axle doesn’t end soon, GM will be forced in April to shut down the first auto plant shuttered by the strike. GM has already stopped or slowed down production at 29 plants involved with making trucks, vans and SUV’s. UAW workers at American Axle are the victims of an assault by the company on their wages and benefits. Because the profitable American Axle wants to cut wages in half and slash benefits, as many as 40,000 jobs could be cut from U.S. payrolls in March according to economist Brian Bethune. Bethune says that would cut three tenths of a percent from U.S.

Headlines:

• McCain’s California Political Gold Rush Met By Working Families
• Chinese Workers Upset As Kraft Relocates Jobs
• GE Told Of Chinese Workers Exposed To Mercury
• Delta Flight Attendants To Begin Union Vote April 23rd

Economic Report: On the heels of positive news for existing homes sales on Tuesday, a new report says sales of new homes continued to decline in February. The Commerce Department said the median new home price dropped to $244,100 in February, down 8.2 percent, and the sales of new single family homes fell by 1.8 percent. The inventory of unsold new homes now stands at 471,000.

By Doug Cunningham Thirteen thousand Delta Airlines flight attendants will start voting April 23rd on whether or not to be represented by the Association of Flight Attendants-CWA. Voting will be open through June 3rd. AFA-CWA President Patricia Friend says it’s an exciting and historic time for Delta flight attendants who have engaged in one of the largest grassroots union organizing efforts in the union’s history.

A new report from Policy Matters Ohio alleges that workers in a Chinese factory that makes lightbulbs for General Electric have been exposed to mercury. The report by the nonprofit policy research organization also says that some workers had been forced to work 64-hour work weeks. GE says it is reviewing the report.

The shoe is on the other foot in China where workers are upset that they weren’t consulted when Kraft decided to relocate jobs. Jesse Russell reports: U.S. workers are used to having little say when their jobs are moved to different states or out of the country to places like China and Mexico, but now, some Chinese workers are crying foul over Kraft’s plan to move operations from Beijing to Shanghai. According to Chinese labor law, companies are required to consult with employees before making major changes that may impact the best interest of workers, such as moving jobs. On Tuesday, the Chinese labor union representing the Chinese Kraft workers demanded that the company not only apologize to the 340 workers who could be out of work, but also give the workers a say in the relocation process. In a statement from Kraft Foods China, the company said it "offered higher compensation than the law requires, but employees have their own thoughts."

By Doug Cunningham As GOP Presidential candidate John McCain scoops up campaign cash from well-heeled Republicans in Pebble Beach. L.A., Newport Beach and San Francisco this week, working families will be there; not to support McCain. They'll urging McCain instead to address working people's financial priorities and concerns rather than suck up to the rich who have benefited from the Bush economic policies and anti-labor legacy. The California Labor Federation says most of the McCain events cost a minimum of $2300 bucks. The Federation’s Art Pulaski says McCain fails to recognize how the current economic situation is negatively impacting California’s working families.

Headlines:

• AFL-CIO Health Care Survey Results Paint A Devastating Picture
• Families USA Study Shows How Many Die Because They Lack Health Insurance
• Union Is Part Of A Campaign That Wins Cancer Care For Teen From Pacificare

By Doug Cunningham Giant health insurer Pacificare has buckled under the pressure of a public campaign that included efforts by the California Nurses Association. It's now reversing a decision to deny coverage to a 17-year-old cancer patient, Nick Colombo. Pacificare is owned by United Health, and the CNA says last year it was fined $3.5 million for improperly denying coverage in 133,000 cases.