These days the economic news reads like some strange collaboration between John Steinbeck and Eugene Ionesco, a mashup of The Grapes of Wrath and The Bald Soprano. Grim statistics of poverty, lost hope, and widespread tragedy – the stuff of human reality – are juxtaposed with a surrealistically disconnected political debate that focuses on the incidental and the irrelevant. We’re [...]
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According to a Pew Charitable Trusts study released Thursday, baby boomers and Generation Xers are increasingly unlikely to be able to afford the costs of retirement, making critical the need for a strong Social Security program to bridge this income gap. Instead of weakening the social safety net by using the “chained CPI” to reduce [...]
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The Senate is getting ready to vote on five nominees to the National Labor Relations Board (NLRB). They should confirm the whole package and get the NLRB functioning again. They are also voting on several other nominees from judges to cabinet positions. If Republicans filibuster to obstruct these, it is time to fix the filibuster. [...]
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For weeks, I've been writing that the movement to increase the minimum wage near you. Next week, however, that movement will arrive in my own back yard. Low-wage workers organized by Good Jobs Nation are coming to Washington, DC to rally for living wages, on Tuesday, May 21st, at 12:00pm, at Columbus Circle, in front of Union Station.
But this protest isn't targeting fast food restaurants like McDonald's or Burger King or retail shops like TJMaxx. On Tuesday, low-wage workers will take their demands to the biggest low-wage job creator in the country — the one funded by taxpayers like you and me: the federal government.
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Thursday on Bloomberg Television, Robert Borosage made the case for Sen. Elizabeth Warren’s Bank On Student Loan Fairness Act, which would set student loan interest rates at the same rate banks get from the Federal Reserve discount window: “There is a universal consensus that we have to educate the next generation. And now college is [...]
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Over at The Week, I make the argument that presidential scandal politics usually fail to lift the political prospects of the party outside the White House. No party has reaped a political reward from pushing scandal since Nixon, yet both parties have repeatedly tried. However, short of impeachment or electoral gains, opposition parties may be [...]
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It’s official. Minimum wage workers going on strike is no longer a mere trend. It’s a movement. Not that there was ever any doubt, after minimum wage workers in the fast food and retail sectors of major cities like New York City, Chicago, St.Louis, and Detroit walked off the job, demanding better wages and better [...]
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In the latest round of atrocities committed by conservatives, Republicans on the House Agriculture Committee sent to the House floor a farm bill on Wednesday that offers little food for families while dishing out corporate subsides. In protest, organizational leaders and activist met with elected officials on Capitol Hill to demonstrate opposition to cutting the [...]
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There was a time when a $200+ billion reduction in the federal budget deficit would have been big news and hailed as a singular achievement worthy of either fiscal sainthood or a dance-on-the-table party...or both.
Yet yesterday's Congressional Budget Office report showing that the fiscal 2013 federal deficit will be $642 billion, $203 billion less than CBO's previous estimate of $845 billion, did not create any spontaneous cannonizations or celebrations. It also didn't change the still-stalemated and crisis-oriented federal budget debate by even a small amount.
The bottomline: It's in almost no one's interest to be happy about the budget news that should have made everyone happier.
Here's why.
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