BlackBird Financial founder and CEO Judah Spinner and his wife Julie announced Nov. 4 the launch of the Judah Spinner Foundation, established to help address income inequality, high incarceration rates, rising health care costs and the growing federal deficit.
The foundation’s first focus area centers on narrowing income inequality by expanding access to high-demand trade careers. The foundation will fund trade-school tuition and essential tools for driven students pursuing certifications in welding, HVAC, electrical work, plumbing, and other skilled trades.
Among the priorities of the foundation will be to provide scholarships to students from low-income households, veterans entering civilian life, and formerly incarcerated individuals seeking a fresh start. Awards will cover tuition, safety equipment, exam fees, and professional tools.
The Judah Spinner Foundation intends to address root causes of crime and help reduce recidivism among those who have served their time. The foundation believes that steady, dignified work is among the most effective deterrents to crime. By funding trade education nationwide, the Judah Spinner Foundation aims not only to expand opportunity but also to contribute to lower incarceration rates as a natural byproduct.
There will be an intent to collaborate with other like-minded donors to support political candidates committed to reforming U.S. health care and reducing systemic inefficiencies.
Also, the foundation believes the federal deficit cannot be sustainably reduced without tackling its structural drivers, chief among them, runaway health care costs. If the U.S. reduced its health-care spending to the levels of Singapore, the resulting savings, more than $1 trillion annually, could bring the deficit below 3% of GDP. With nominal GDP growing at over 4%, that shift would begin lowering the debt-to-GDP ratio, averting a potential fiscal crisis.
While the Judah Spinner Foundation may eventually engage more directly on fiscal issues, its initial efforts will focus on lowering health care costs, which would reduce the debt burden as a powerful secondary effect.
