A scam all along: Turns out GOP’s “tax the rich” plan is full of it
"Republicans still are obsessed with taxing the poor to feed the rich -- they're just getting better at hiding it"
Friday, February 28, 2014
JPMorgan Bets on Death As Wall Street Suicides Jump Up
JPMorgan Bets on Death As Wall Street Suicides Jump Up
"In the vernacular, what JPMorgan is doing is engaging in the purchase of what has come to be known as "dead peasant" insurance policies on employees. The pejorative nickname, according to a website focusing on the practice, had its origins in a lawsuit in which a major corporation indicated that it regarded deceased employees as dead peasants"
"In the vernacular, what JPMorgan is doing is engaging in the purchase of what has come to be known as "dead peasant" insurance policies on employees. The pejorative nickname, according to a website focusing on the practice, had its origins in a lawsuit in which a major corporation indicated that it regarded deceased employees as dead peasants"
The Deficit Fell Faster Last Year Than Any Since The End Of World War II
www.thinkprogress.org/economy/2014/02/28/3344231/deficit-fall-2013/
"The federal budget deficit fell faster last year than in any year since the end of World War II, according to a Treasury Department report on Thursday. It declined from $1.1 trillion in 2012 to $680 billion in 2013.
That represents the smallest deficit since 2008 in nominal terms. It’s now 4.1 percent of GDP, dropping from a high of more than 10 percent during the depths of the recession. It’s less than half of what it was in 2009, when the recession ended."
"The federal budget deficit fell faster last year than in any year since the end of World War II, according to a Treasury Department report on Thursday. It declined from $1.1 trillion in 2012 to $680 billion in 2013.
That represents the smallest deficit since 2008 in nominal terms. It’s now 4.1 percent of GDP, dropping from a high of more than 10 percent during the depths of the recession. It’s less than half of what it was in 2009, when the recession ended."
Thursday, February 27, 2014
Christie’s Troubles Mount as the Feds Open an Inquiry Into Bridgegate | The Nation
Christie’s Troubles Mount as the Feds Open an Inquiry Into Bridgegate | The Nation
"Governor Christie would dearly love for Bridgegate to go away, but that’s not happening any time soon. If you haven’t been following the story lately, the scandal is unfolding quietly, mostly behind the scenes, and it’s gaining momentum."
"Governor Christie would dearly love for Bridgegate to go away, but that’s not happening any time soon. If you haven’t been following the story lately, the scandal is unfolding quietly, mostly behind the scenes, and it’s gaining momentum."
The 3 Biggest Surprises From An Investigation Into A Swiss Bank That Helps Americans Dodge Taxes
www.thinkprogress.org/economy/2014/02/26/3332701/senate-investigation-tax-evasion-credit-suisse/
"Estimates of how much money the bank hid from American tax authorities range widely depending on how the estimates are done, the report says, from a $5 billion estimate using the bank’s own methods to a $12 billion estimate using a more rigorous approach.
In total, individual and corporate tax evasion costs the country an estimated $300 billion each year. Swiss banks play a key role in that evasion, but they are far from alone in recruiting and facilitating American tax dodgers."
"Estimates of how much money the bank hid from American tax authorities range widely depending on how the estimates are done, the report says, from a $5 billion estimate using the bank’s own methods to a $12 billion estimate using a more rigorous approach.
In total, individual and corporate tax evasion costs the country an estimated $300 billion each year. Swiss banks play a key role in that evasion, but they are far from alone in recruiting and facilitating American tax dodgers."
PERRspectives: Camp's House GOP Tax Plan Hits Blue Staters Hard
PERRspectives: Camp's House GOP Tax Plan Hits Blue Staters Hard
"If Camp's plan became law, the dynamic of "red state socialism" by which federal tax dollars generally flow from wealthier Democratic states to less well-off Republican ones would only become more pronounced. Red state spending on education, unemployment insurance and (more than ever) health care has been and will continue to be underwritten by blue state taxpayers."
"If Camp's plan became law, the dynamic of "red state socialism" by which federal tax dollars generally flow from wealthier Democratic states to less well-off Republican ones would only become more pronounced. Red state spending on education, unemployment insurance and (more than ever) health care has been and will continue to be underwritten by blue state taxpayers."
Anonymous Calls For World Day of Action on April 4
Anonymous Calls For World Day of Action on April 4
"The Worldwide Wave of Action begins on April 4 at "former occupation sites around the world"."
"The Worldwide Wave of Action begins on April 4 at "former occupation sites around the world"."
Tuesday, February 25, 2014
CT Gov. Malloy Takes Michael Steele to School Over Minimum Wage
CT Gov. Malloy Takes Michael Steele to School Over Minimum Wage
"He shut down Steele's talking points on the CBO report. He whacked the Republicans for having absolutely no alternatives to offer to raising the minimum wage and just saying no at every turn. And he made a compelling case for the fact that standing up for making a living wage is standing up for the working class, and you either care about lifting people out of poverty, or you don't. It's as simple as that."
"He shut down Steele's talking points on the CBO report. He whacked the Republicans for having absolutely no alternatives to offer to raising the minimum wage and just saying no at every turn. And he made a compelling case for the fact that standing up for making a living wage is standing up for the working class, and you either care about lifting people out of poverty, or you don't. It's as simple as that."
Hypocrisies of the Super-Rich
Hypocrisies of the Super-Rich
"Hypocrite of the Day? Perhaps Exxon CEO Rex Tillerson, who criticized fracking regulations for "holding back the American economic recovery," and then protested when a fracking water tower was to be built near his home. Or maybe banker Camden R. Fine, who called Post Office Banks "the worst idea since the Ford Edsel," even though low-income families pay almost 10 percent of their income in fees to traditional banks.
The hypocrisy keeps on coming, and our country's wealth keeps moving up to the hypocrites."
"Hypocrite of the Day? Perhaps Exxon CEO Rex Tillerson, who criticized fracking regulations for "holding back the American economic recovery," and then protested when a fracking water tower was to be built near his home. Or maybe banker Camden R. Fine, who called Post Office Banks "the worst idea since the Ford Edsel," even though low-income families pay almost 10 percent of their income in fees to traditional banks.
The hypocrisy keeps on coming, and our country's wealth keeps moving up to the hypocrites."
Monday, February 24, 2014
Big Telecom Bankrolls a National Network of Stink Tanks
Big Telecom Bankrolls a National Network of Stink Tanks
"Comcast and Time Warner Cable also financially underwrite a large network of state-based “think tanks” that work to push ALEC’s corporate agenda into law."
"Comcast and Time Warner Cable also financially underwrite a large network of state-based “think tanks” that work to push ALEC’s corporate agenda into law."
Yes, Virginia, You Pay Subsidies Not Just to Banks but to Flood-Prone Homes of the Rich
Yes, Virginia, You Pay Subsidies Not Just to Banks but to Flood-Prone Homes of the Rich
"You are supporting the habits of the rich in more ways than you know, including their love of water views."
"You are supporting the habits of the rich in more ways than you know, including their love of water views."
Arresting Development: Why the Comcast-Netflix Deal Should Worry You | Common Dreams
Arresting Development: Why the Comcast-Netflix Deal Should Worry You | Common Dreams
"On Sunday, Netflix agreed to pay Comcast an undisclosed amount to ensure that its videos stream smoothly to Comcast customers. But fans of Francis Underwood’s manipulations on House of Cards might want to temper their celebrations.
This is more than a deal between two giant companies: It will affect everyone who uses the Internet. And as with so many things involving Comcast, consumers will end up paying for it in the end.
The deal should also be a wake-up call to regulators who are weighing the proposed Comcast-Time Warner Cable merger and grappling with what to do about Net Neutrality."
"On Sunday, Netflix agreed to pay Comcast an undisclosed amount to ensure that its videos stream smoothly to Comcast customers. But fans of Francis Underwood’s manipulations on House of Cards might want to temper their celebrations.
This is more than a deal between two giant companies: It will affect everyone who uses the Internet. And as with so many things involving Comcast, consumers will end up paying for it in the end.
The deal should also be a wake-up call to regulators who are weighing the proposed Comcast-Time Warner Cable merger and grappling with what to do about Net Neutrality."
Sunday, February 23, 2014
Fox Pundit Asks if America Should Eliminate Minimum Wage Because Switzerland Doesn't Have One
Fox Pundit Asks if America Should Eliminate Minimum Wage Because Switzerland Doesn't Have One
"The pundits on Faux "news" continue to cheer for a race to the bottom on wages in the United States."
"The pundits on Faux "news" continue to cheer for a race to the bottom on wages in the United States."
Saturday, February 22, 2014
Regulators question JPMorgan Chase on foreign exchange
Regulators question JPMorgan Chase on foreign exchange
"JPMorgan Chase Thursday disclosed that US and foreign regulators have sought documents on its foreign exchange trading business, amid an ongoing worldwide forex manipulation probe.
The disclosure came as the embattled US banking giant, which has paid out more than $20 billion over the past two years to settle various accusations of misbehavior, was hit with new charges over the Madoff Ponzi fund case.
The largest US bank by assets said in a securities filing that the investigations related to its foreign exchange operations "are in the early stages and the firm is cooperating with the relevant authorities."
Authorities in the United States, Britain, Switzerland, Hong Kong and Singapore have opened probes into whether a number of large banks manipulated foreign exchange trading."
"JPMorgan Chase Thursday disclosed that US and foreign regulators have sought documents on its foreign exchange trading business, amid an ongoing worldwide forex manipulation probe.
The disclosure came as the embattled US banking giant, which has paid out more than $20 billion over the past two years to settle various accusations of misbehavior, was hit with new charges over the Madoff Ponzi fund case.
The largest US bank by assets said in a securities filing that the investigations related to its foreign exchange operations "are in the early stages and the firm is cooperating with the relevant authorities."
Authorities in the United States, Britain, Switzerland, Hong Kong and Singapore have opened probes into whether a number of large banks manipulated foreign exchange trading."
Friday, February 21, 2014
Billionaire Tim Draper's Plan For California: Break It!
Billionaire Tim Draper's Plan For California: Break It!
"Peter Theil, the oligarch PayPal made, is completely on board with the whole idea of Silicon Valley seceding, along with many other young, too-rich-too-soon techie types who toy with ideas like offshore platforms for tech businesses so they can duck taxes and regulations.
Draper has come up with an angle to snow Californians. We're all supposed to be excited at the prospect of having 10 California senators instead of 2. Never mind that he's hoping at least six of the ten would be conservative or libertarian. That needn't be mentioned."
"Peter Theil, the oligarch PayPal made, is completely on board with the whole idea of Silicon Valley seceding, along with many other young, too-rich-too-soon techie types who toy with ideas like offshore platforms for tech businesses so they can duck taxes and regulations.
Draper has come up with an angle to snow Californians. We're all supposed to be excited at the prospect of having 10 California senators instead of 2. Never mind that he's hoping at least six of the ten would be conservative or libertarian. That needn't be mentioned."
The Monstrous Merger of Comcast and Time Warner Must Be Stopped - Now | Common Dreams
The Monstrous Merger of Comcast and Time Warner Must Be Stopped - Now | Common Dreams
"We must confront connected regulators and force them to pull the plug. Our democracy depends on it"
"We must confront connected regulators and force them to pull the plug. Our democracy depends on it"
Thursday, February 20, 2014
Corporate Faces Behind Privatized Public Services Exposed | Common Dreams
Corporate Faces Behind Privatized Public Services Exposed | Common Dreams
"To some it may come as no surprise that America's highest paid government workers are not teachers, nurses, or sanitation workers. However, according to a report released Wednesday by the Center for Media and Democracy, the highest paid "government workers" are not even employees of the federal government."
"To some it may come as no surprise that America's highest paid government workers are not teachers, nurses, or sanitation workers. However, according to a report released Wednesday by the Center for Media and Democracy, the highest paid "government workers" are not even employees of the federal government."
The United States of Poverty and Inequality | Common Dreams
The United States of Poverty and Inequality | Common Dreams
'Over the last three decades the wealth of the nation's very richest 1% has grown ten times that of the average worker and over that time period that same tiny elite has captured more than half of the entire income increases, leaving the bottom 99% to divide the remaining gains."
'Over the last three decades the wealth of the nation's very richest 1% has grown ten times that of the average worker and over that time period that same tiny elite has captured more than half of the entire income increases, leaving the bottom 99% to divide the remaining gains."
Meet the Billionaires Using Their Immense Dough to Make Life Miserable for Ordinary Americans
www.alternet.org/economy/meet-billionaires-using-their-immense-dough-make-life-miserable-ordinary-americans
"From Pete Peterson’s deficit/debt scare campaign to John D. Arnold's attack on public pensions, billionaires are behind some very harmful policies."
"From Pete Peterson’s deficit/debt scare campaign to John D. Arnold's attack on public pensions, billionaires are behind some very harmful policies."
Wednesday, February 19, 2014
Audio, Photos Reveal Totally Degenerate Nature Of Wall Street
www.addictinginfo.org/2014/02/19/reporter-reveals-audio-pictures-inside-meeting-wall-streets-secret-fraternity/
"Needless to say, when Roose was discovered, there was a full blown panic among those in attendance. It’s one thing to mock every day people in the company of those who think and act like you. It’s something else when audio and pictures of you doing the despicable things you do, get released to the public.
Roose released the entire membership rolls of Wall Street’s secret fraternity. The rolls include executives from almost every major bank, private equity firm and hedge fund. The names of some former government officials, lawyers, CEO’s and billion dollar corporations (like Home Depot) can also be found on the membership list."
"Needless to say, when Roose was discovered, there was a full blown panic among those in attendance. It’s one thing to mock every day people in the company of those who think and act like you. It’s something else when audio and pictures of you doing the despicable things you do, get released to the public.
Roose released the entire membership rolls of Wall Street’s secret fraternity. The rolls include executives from almost every major bank, private equity firm and hedge fund. The names of some former government officials, lawyers, CEO’s and billion dollar corporations (like Home Depot) can also be found on the membership list."
The Koch Brothers and Libre, Their Hispanic Voter Project
The Koch Brothers and Libre, Their Hispanic Voter Project
"The irony of the Libre/Koch Brothers campaign against Obamacare congressional supporters in districts, is that those districts contain large numbers of Hispanics in desperate need of health care options."
"The irony of the Libre/Koch Brothers campaign against Obamacare congressional supporters in districts, is that those districts contain large numbers of Hispanics in desperate need of health care options."
Five Reasons the 1% Do Not Want Unemployment to Decrease
Five Reasons the 1% Do Not Want Unemployment to Decrease
"The most important value to high unemployment to the 1% is in the ever-increasing profit margin that comes from lowering the cost of labor by decreasing salaries and benefits. This result from competition for jobs among a group of desperate employment seekers is that they have no choice but to accept low-paying jobs.
Therefore, while the media likes to use the benchmark unemployment statistics as a sign of the economy "improving" if the government figure goes down, the 1% actually sees its lopsided share of US assets increase when the unemployment figures are higher and wages lower.
This reality, largely ignored by the mainstream media, is of course facilitated by the globalization of jobs to lower cost (often slave wage) settings, devaluing the US labor market even further."
"The most important value to high unemployment to the 1% is in the ever-increasing profit margin that comes from lowering the cost of labor by decreasing salaries and benefits. This result from competition for jobs among a group of desperate employment seekers is that they have no choice but to accept low-paying jobs.
Therefore, while the media likes to use the benchmark unemployment statistics as a sign of the economy "improving" if the government figure goes down, the 1% actually sees its lopsided share of US assets increase when the unemployment figures are higher and wages lower.
This reality, largely ignored by the mainstream media, is of course facilitated by the globalization of jobs to lower cost (often slave wage) settings, devaluing the US labor market even further."
Private Equity Predators and the Great American Farm Grab | Common Dreams
Private Equity Predators and the Great American Farm Grab | Common Dreams
"Mirroring a trend being experienced across the globe, this strengthening focus on agriculture-related investment by the private sector is already leading to a spike in U.S. farmland prices. Coupled with relatively weak federal policies, these rising prices are barring many young farmers from continuing or starting up small-scale agricultural operations of their own.
In the long term, critics say, this dynamic could speed up the already fast-consolidating U.S. food industry, with broad ramifications for both human and environmental health."
"Mirroring a trend being experienced across the globe, this strengthening focus on agriculture-related investment by the private sector is already leading to a spike in U.S. farmland prices. Coupled with relatively weak federal policies, these rising prices are barring many young farmers from continuing or starting up small-scale agricultural operations of their own.
In the long term, critics say, this dynamic could speed up the already fast-consolidating U.S. food industry, with broad ramifications for both human and environmental health."
Tuesday, February 18, 2014
PERRspectives: Georgia Republicans are Killing Hospitals--and People
PERRspectives: Georgia Republicans are Killing Hospitals--and People
"By now, millions of Americans--most of them in red states-- are growing familiar with the "coverage gap." Thanks to their rejection of the Affordable Care Act's expansion of Medicaid in states they control, GOP leaders are leaving at least five million people in an insurance "dead zone," earning too much to qualify for Medicaid but too little to obtain federal subsidies to purchase coverage on their. As a recent Harvard study suggests, that Republican dead zonewill a very real body count, with as many as 17,000 people forecast to needlessly die each year for lack of health insurance.
"By now, millions of Americans--most of them in red states-- are growing familiar with the "coverage gap." Thanks to their rejection of the Affordable Care Act's expansion of Medicaid in states they control, GOP leaders are leaving at least five million people in an insurance "dead zone," earning too much to qualify for Medicaid but too little to obtain federal subsidies to purchase coverage on their. As a recent Harvard study suggests, that Republican dead zonewill a very real body count, with as many as 17,000 people forecast to needlessly die each year for lack of health insurance.
But GOP obstruction won't just kill people in places like Texas, Mississippi and many more. As the case of Georgia shows--where over 600,000 residents will fall into the coverage gap and as many as 1,175 will die this year--Republican policy is killing hospitals, too."
10 Charts Show a New Gilded Age for the One Percent
10 Charts Show a New Gilded Age for the One Percent
"Of course, America's super rich don't want to go back to some mythical Golden Age. As the numbers show, this is their Golden Age. And as the obscenely wealthy pull away from the merely wealthy, Tom Perkins, Sam Zell, Ken Langone and their exclusive club know they've never had it so good."
"Of course, America's super rich don't want to go back to some mythical Golden Age. As the numbers show, this is their Golden Age. And as the obscenely wealthy pull away from the merely wealthy, Tom Perkins, Sam Zell, Ken Langone and their exclusive club know they've never had it so good."
Filthy rich but secretly terrified: Inside the One Percent’s sore-winner backlash
Filthy rich but secretly terrified: Inside the One Percent’s sore-winner backlash
"Why are the super-rich whining so much? They rigged the game for themselves, but are terrified of being discovered"
"Why are the super-rich whining so much? They rigged the game for themselves, but are terrified of being discovered"
Corporate Cronyism: The Secret to Overpaid CEOs
Corporate Cronyism: The Secret to Overpaid CEOs
"It's hardly a secret that the heads of major corporations in the United States get mind bending paychecks. While high pay may be understandable when a top executive turns around a failing company or vastly expands a company's revenue and profit, but CEOs can get paychecks in the tens or hundreds of millions even when they did nothing especially notable."
"It's hardly a secret that the heads of major corporations in the United States get mind bending paychecks. While high pay may be understandable when a top executive turns around a failing company or vastly expands a company's revenue and profit, but CEOs can get paychecks in the tens or hundreds of millions even when they did nothing especially notable."
Monday, February 17, 2014
PERRspectives: CBO Destroyed GOP Lies about Obama Stimulus Program
PERRspectives: CBO Destroyed GOP Lies about Obama Stimulus Program
"As their recent disinformation campaign over mythical Obamacare job losses shows, Republicans love the nonpartisan Congressional Budget Office. Except when they hate the CBO, which is most of the time. After all, GOP leaders are using the fifth anniversary of the $787 billion Obama economic stimulus program to mark it is a failure despite the fact that the CBO--and most other analysts--long ago declared it a success."
"As their recent disinformation campaign over mythical Obamacare job losses shows, Republicans love the nonpartisan Congressional Budget Office. Except when they hate the CBO, which is most of the time. After all, GOP leaders are using the fifth anniversary of the $787 billion Obama economic stimulus program to mark it is a failure despite the fact that the CBO--and most other analysts--long ago declared it a success."
The Christie scandal everyone overlooked: A $12 million self-motivated political scheme
The Christie scandal everyone overlooked: A $12 million self-motivated political scheme
"Yes, "Bridgegate" is bad. But a selfish, sleazy special election decision last year also cost the state. Here's how
"Yes, "Bridgegate" is bad. But a selfish, sleazy special election decision last year also cost the state. Here's how
A Reading Guide on the Billionaire Koch Brothers
A Reading Guide on the Billionaire Koch Brothers
"how the brothers’ political views “dovetail with [their] corporate interests"."
"how the brothers’ political views “dovetail with [their] corporate interests"."
Fox Celebrates Fifth Anniversary of Stimulus by Spreading GOP Zombie Lies on Recovery
Fox Celebrates Fifth Anniversary of Stimulus by Spreading GOP Zombie Lies on Recovery
"It's been five years since the passage of the stimulus package that saved millions of jobs when our economy was in a free fall, but that hasn't stopped Faux "news" and the Republicans from continuing to spread the zombie lie that the Recovery Act supposedly didn't work."
"It's been five years since the passage of the stimulus package that saved millions of jobs when our economy was in a free fall, but that hasn't stopped Faux "news" and the Republicans from continuing to spread the zombie lie that the Recovery Act supposedly didn't work."
The 4 Most Profound Ways Privatization Perverts Education
www.alternet.org/education/4-most-profound-ways-privatization-perverts-education
"Profit-seeking in the banking and health care industries has victimized Americans. Now it's beginning to happen in education, with our children as the products."
"Profit-seeking in the banking and health care industries has victimized Americans. Now it's beginning to happen in education, with our children as the products."
Last Call: Joni Mitchell Contest Ends Today
Last Call: Joni Mitchell Contest Ends Today
"The Koch brothers are already spending hundreds of thousands of dollars in Orlando to try to defeat Grayson with their regular complain of smears and lies."
"The Koch brothers are already spending hundreds of thousands of dollars in Orlando to try to defeat Grayson with their regular complain of smears and lies."
Cheers for the Recovery Act on its 5th Birthday, Jeers for the Anti-Recovery Act We’ve (Implicitly) Passed in the Past Three Years
Cheers for the Recovery Act on its 5th Birthday, Jeers for the Anti-Recovery Act We’ve (Implicitly) Passed in the Past Three Years
"Today marks the fifth anniversary of the signing of the American Recovery and Reinvestment Act (ARRA, or simply the Recovery Act). Passed after a six-month stretch during which the economy lost an average of 750,000 jobs each month, ARRA was the single biggest contributor to stopping the economic freefall that followed the bursting of the housing bubble. To be clear, the assessment that the ARRA contributed significantly to ending the Great Recession is not a contested opinion among macroeconomists, or at least not among those macroeconomists whose paycheck depends on correctly predicting what will impact economic activity."
"Today marks the fifth anniversary of the signing of the American Recovery and Reinvestment Act (ARRA, or simply the Recovery Act). Passed after a six-month stretch during which the economy lost an average of 750,000 jobs each month, ARRA was the single biggest contributor to stopping the economic freefall that followed the bursting of the housing bubble. To be clear, the assessment that the ARRA contributed significantly to ending the Great Recession is not a contested opinion among macroeconomists, or at least not among those macroeconomists whose paycheck depends on correctly predicting what will impact economic activity."
Republicans Slam Stimulus On Fifth Anniversary — But Most Took Credit For It Back Home
www.thinkprogress.org/economy/2014/02/17/3298561/hypocrites/
"over half of the GOP caucus praised the effects of the stimulus or took credit for the federal dollars in their home districts and states — despite repeatedly voting against it in Washington D.C."
"over half of the GOP caucus praised the effects of the stimulus or took credit for the federal dollars in their home districts and states — despite repeatedly voting against it in Washington D.C."
Saturday, February 15, 2014
A Portrait of Time Warner's Active Role in ALEC
A Portrait of Time Warner's Active Role in ALEC
"How is this possible? How could tens, if not hundreds of thousands of dollars in gifts and lobbying expenditures for the benefit of Ohio lawmakers have completely disappeared from public sight?
The answer is a pretty straightforward one: Ohio law contains numerous disclosure exemptions for items of worth (be they cash, meals, or plane tickets) received by lawmakers in conjunction with events held by certain legislative membership organizations."
"How is this possible? How could tens, if not hundreds of thousands of dollars in gifts and lobbying expenditures for the benefit of Ohio lawmakers have completely disappeared from public sight?
The answer is a pretty straightforward one: Ohio law contains numerous disclosure exemptions for items of worth (be they cash, meals, or plane tickets) received by lawmakers in conjunction with events held by certain legislative membership organizations."
The Great Isolation of the 1%
www.alternet.org/news-amp-politics/great-isolation-1
"Due to a spate of bizarre rants from members of the 1 percent over the past two weeks, it would be easy to conclude that America’s super-rich have gone off the rails."
"Due to a spate of bizarre rants from members of the 1 percent over the past two weeks, it would be easy to conclude that America’s super-rich have gone off the rails."
Cable Users Among Loudest Critics of Comcast/Time-Warner Deal | Common Dreams
Cable Users Among Loudest Critics of Comcast/Time-Warner Deal | Common Dreams
"The proposed merger of the nation's two largest cable companies, Comcast and Time-Warner, into one gigantic mega-telecom corporation is being slammed by the people that will be most impacted if the deal goes through: customers."
"The proposed merger of the nation's two largest cable companies, Comcast and Time-Warner, into one gigantic mega-telecom corporation is being slammed by the people that will be most impacted if the deal goes through: customers."
Friday, February 14, 2014
Lawmakers Threaten Workers Over Union Vote Their Bosses Welcome
www.thinkprogress.org/economy/2014/02/14/3293801/volkswagen-vote-tennessee-threaten/
"Watson’s threats and Corker’s cajoling come even though Volkswagen has welcomed the United Auto Workers into its Chattanooga factory and sought to bring German labor organizing ideas to Tennessee. The German company is accustomed to working with worker groups in its facilities in Europe and is seeking to establish the same kind of positive rapport with its labor force in the American south"
"Watson’s threats and Corker’s cajoling come even though Volkswagen has welcomed the United Auto Workers into its Chattanooga factory and sought to bring German labor organizing ideas to Tennessee. The German company is accustomed to working with worker groups in its facilities in Europe and is seeking to establish the same kind of positive rapport with its labor force in the American south"
Fox Enters Tennessee Labor Fight With Anti-Worker Binge
www.mediamatters.org/blog/2014/02/13/fox-enters-tennessee-labor-fight-with-anti-work/198047
"All Volkswagen plants currently have union representation besides Chattanooga and two plants in China. And the German company has praised the benefits such organization has brought to its other plants -- As The Washington Post wrote, "the company even sees its culture of worker codetermination as a 'competitive advantage,'" according to Volkswagen's global works council leader, Bernard Osterloh. As UC Berkley's Harley Shaiken has explained, this competitive advantage has already helped boost Volkswagen's bottom line -- the company "has led all major automakers in raising shareholder value" over the last three years and was "virtually tied for second place in global auto production in 2012."
And economic research is on Volkswagen's side. Unions around the country have repeatedly been shown to boost productivity and allow greater flexibility during economic downturns, restoring demand to the economy by raising wages. As the Economic Policy Institute has noted, unionization increases the stability and buying power of the middle class, which is necessary to maintain a healthy consumer-based economy"
"All Volkswagen plants currently have union representation besides Chattanooga and two plants in China. And the German company has praised the benefits such organization has brought to its other plants -- As The Washington Post wrote, "the company even sees its culture of worker codetermination as a 'competitive advantage,'" according to Volkswagen's global works council leader, Bernard Osterloh. As UC Berkley's Harley Shaiken has explained, this competitive advantage has already helped boost Volkswagen's bottom line -- the company "has led all major automakers in raising shareholder value" over the last three years and was "virtually tied for second place in global auto production in 2012."
And economic research is on Volkswagen's side. Unions around the country have repeatedly been shown to boost productivity and allow greater flexibility during economic downturns, restoring demand to the economy by raising wages. As the Economic Policy Institute has noted, unionization increases the stability and buying power of the middle class, which is necessary to maintain a healthy consumer-based economy"
PERRspectives: The 1 Percenters are Right: Let's Go Back to the Good Old Days
PERRspectives: The 1 Percenters are Right: Let's Go Back to the Good Old Days
"But the Dow Jones hasn't just doubled since Obama entered the White House. There's no shortage of studies to show that stock market returns are higher under Democratic leadership. As Slate in 2002 and the New York Times in 2003 found, "It's not even close. The stock market does far better under Democrats." And as Bloomberg News documented two years ago, Barack Obama has been no exception"
"But the Dow Jones hasn't just doubled since Obama entered the White House. There's no shortage of studies to show that stock market returns are higher under Democratic leadership. As Slate in 2002 and the New York Times in 2003 found, "It's not even close. The stock market does far better under Democrats." And as Bloomberg News documented two years ago, Barack Obama has been no exception"
Why Are GOP Politicians and Anti-Union Groups Interfering With the VW Vote?
Why Are GOP Politicians and Anti-Union Groups Interfering With the VW Vote?
"Finally, the most notable feature of the VW campaign has been the unprecedented campaign of intimidation by shadowy anti-union organizations. Right-wing activists, including Grover Norquist and the Koch brothers, are furious that VW management has not attempted to pressure workers to vote "no." So they have stepped into the breach. Ludicrously misnamed organizations such as the Workplace Fairness Institute, Worker Freedom Institute and Center for Worker Freedom have attempted to transform the union election into a sleazy political campaign: They have suggested that UAW-represented auto companies are bankrupt, when in fact they are thriving, with Ford posting record profits; they have told workers that unionization would "imperil the fate of their employer," when in fact VW would be delighted to have a cooperative relationship with unionized workers within the plant; and they have spread ludicrous right-wing fantasies, such as the union "wants your guns." No other democratic country has organizations such as these - peddling outright falsehoods - that are dedicated to undermining workers' right to choose a union."
"Finally, the most notable feature of the VW campaign has been the unprecedented campaign of intimidation by shadowy anti-union organizations. Right-wing activists, including Grover Norquist and the Koch brothers, are furious that VW management has not attempted to pressure workers to vote "no." So they have stepped into the breach. Ludicrously misnamed organizations such as the Workplace Fairness Institute, Worker Freedom Institute and Center for Worker Freedom have attempted to transform the union election into a sleazy political campaign: They have suggested that UAW-represented auto companies are bankrupt, when in fact they are thriving, with Ford posting record profits; they have told workers that unionization would "imperil the fate of their employer," when in fact VW would be delighted to have a cooperative relationship with unionized workers within the plant; and they have spread ludicrous right-wing fantasies, such as the union "wants your guns." No other democratic country has organizations such as these - peddling outright falsehoods - that are dedicated to undermining workers' right to choose a union."
David Cay Johnston Takes Apart Chris Christie's False Meme on 'Income Equality'
David Cay Johnston Takes Apart Chris Christie's False Meme on 'Income Equality'
"Everyday Americans who haven't had their brains fried by right-wing hate talk or Faux "news" have known for some time that trickle-down doesn't work and that the game has been rigged for the rich and against the average working person who is just trying to get by for a very long time now."
"Everyday Americans who haven't had their brains fried by right-wing hate talk or Faux "news" have known for some time that trickle-down doesn't work and that the game has been rigged for the rich and against the average working person who is just trying to get by for a very long time now."
Banks Throw Hissy Fit After Elizabeth Warren Endorses Idea to Allow Post Office to Offer Financial Services
www.alternet.org/economy/banks-throw-hissy-fit-after-elizabeth-warren-endorses-idea-allow-post-office-offer-financial
"The plan? The post office would offer services designed to appeal to America’s unbanked and under-banked — the more than 50 million adults who either have no checking or savings account, or use high-cost, predatory services like payday loans to supplement traditional banking needs.
This sounds like a win-win. Americans — particularly low-income Americans — clearly need greater access to low-cost financial services. At the same time, many financial institutions have been complaining for years that providing banking services to low-income Americans is costing them money. So much so that they can barely bring themselves to open bank branches in anything less than well-heeled neighborhoods."
"The plan? The post office would offer services designed to appeal to America’s unbanked and under-banked — the more than 50 million adults who either have no checking or savings account, or use high-cost, predatory services like payday loans to supplement traditional banking needs.
This sounds like a win-win. Americans — particularly low-income Americans — clearly need greater access to low-cost financial services. At the same time, many financial institutions have been complaining for years that providing banking services to low-income Americans is costing them money. So much so that they can barely bring themselves to open bank branches in anything less than well-heeled neighborhoods."
What Won't This Private Prison Corporation Do To Turn a Profit? | Common Dreams
What Won't This Private Prison Corporation Do To Turn a Profit? | Common Dreams
"Corrections Corporation of America exposed for fraudulently billing state taxpayers for thousands of staff hours"
"Corrections Corporation of America exposed for fraudulently billing state taxpayers for thousands of staff hours"
Thursday, February 13, 2014
Robert Reich on Why America Has Forgotten Its Three Biggest Economic Lessons
www.alternet.org/economy/robert-reich-why-america-has-forgotten-its-three-biggest-economic-lessons
"What happened?
For starters, too many of us bought the snake oil of “supply-side” economics, which said big corporations and the wealthy are the job creators – and if we cut their taxes the benefits will trickle down to everyone else. Of course, nothing trickled down."
"What happened?
For starters, too many of us bought the snake oil of “supply-side” economics, which said big corporations and the wealthy are the job creators – and if we cut their taxes the benefits will trickle down to everyone else. Of course, nothing trickled down."
Illinois Governor Wants To Make Sure Workers Can Take A Day Off When They Get Sick
www.thinkprogress.org/economy/2014/02/13/3290191/illinois-paid-sick-leave/
"The United States is unique among many of its developed peers for its lack of a national law that guarantees all workers the right to earn paid sick leave. Just one state, Connecticut, has passed such legislation, although Illinois isn’t the only one to consider joining its ranks: California, Massachusetts, Minnesota, Nebraska, Oregon, Vermont, and Washington are also considering laws."
"The United States is unique among many of its developed peers for its lack of a national law that guarantees all workers the right to earn paid sick leave. Just one state, Connecticut, has passed such legislation, although Illinois isn’t the only one to consider joining its ranks: California, Massachusetts, Minnesota, Nebraska, Oregon, Vermont, and Washington are also considering laws."
Comcast's Takeover of Time Warner Is a Horrible Deal for Consumers
www.alternet.org/corporate-accountability-and-workplace/comcasts-takeover-time-warner-horrible-deal-consumers
"Nice try. Regulators and competition authorities are supposed to consider the public interest when looking at such deals. In no way does the public interest benefit from this one."
"Nice try. Regulators and competition authorities are supposed to consider the public interest when looking at such deals. In no way does the public interest benefit from this one."
Securities Fraud Investigation Nabs Ohio Republican Along With A 'Secretive' Church
Securities Fraud Investigation Nabs Ohio Republican Along With A 'Secretive' Church
"Ohio state representative, Peter Beck (R-54) was just indicted on 53 counts. He already is facing 16 felony counts from an indictment last July."
"Ohio state representative, Peter Beck (R-54) was just indicted on 53 counts. He already is facing 16 felony counts from an indictment last July."
6 Financial Monsters That Have Only Gotten Bigger After Destroying the Economy
www.alternet.org/economy/6-financial-monsters-have-only-gotten-bigger-after-destroying-economy
"Too-big-to-fail banks that should have been reined in back in 2008 continue to pose a major threat to the economy."
"Too-big-to-fail banks that should have been reined in back in 2008 continue to pose a major threat to the economy."
Marching Forward as One: North Carolina's Moral Movement Wants to Change America | Common Dreams
Marching Forward as One: North Carolina's Moral Movement Wants to Change America | Common Dreams
"The agenda covers a wide swath of issues that include equitable and well-funded public education; universal health care; environmental protection; voting rights; poverty reduction; fairness for minorities and the poor in criminal sentencing; and equality for women, immigrants, and LGBTQ people."
"The agenda covers a wide swath of issues that include equitable and well-funded public education; universal health care; environmental protection; voting rights; poverty reduction; fairness for minorities and the poor in criminal sentencing; and equality for women, immigrants, and LGBTQ people."
PERRspectives: Value Work? Then Tax Capital at the Same Rate as Labor
PERRspectives: Value Work? Then Tax Capital at the Same Rate as Labor
"Republicans have a new talking point. Because the latest analysis from the nonpartisan Congressional Budget Office forecasts that the Affordable Care Act will give some workers the freedom to work fewer hours or retire early without the fear of losing health insurance, conservatives now regurgitate in unison, Democrats don't "value work."
Of course, that statement is preposterous, and not just because the CBO itself eviscerated the GOP's tried but untrue sound bite. After all, since Herbert Hoover the American economy has generally grown faster, created more jobs, boosted incomes more quickly and even enjoyed greater gains in the stock market when Democratic presidents sat in the Oval Office. Besides, if conservatives really value work, they can they put their money where their mouths are by taxing capital at the same rate as labor."
"Republicans have a new talking point. Because the latest analysis from the nonpartisan Congressional Budget Office forecasts that the Affordable Care Act will give some workers the freedom to work fewer hours or retire early without the fear of losing health insurance, conservatives now regurgitate in unison, Democrats don't "value work."
Of course, that statement is preposterous, and not just because the CBO itself eviscerated the GOP's tried but untrue sound bite. After all, since Herbert Hoover the American economy has generally grown faster, created more jobs, boosted incomes more quickly and even enjoyed greater gains in the stock market when Democratic presidents sat in the Oval Office. Besides, if conservatives really value work, they can they put their money where their mouths are by taxing capital at the same rate as labor."
Wednesday, February 12, 2014
The Vampire Squid Strikes Again: The Mega Banks' Most Devious Scam Yet
www.rollingstone.com/politics/news/the-vampire-squid-strikes-again-the-mega-banks-most-devious-scam-yet-20140212
"Banks are no longer just financing heavy industry. They are actually buying it up and inventing bigger, bolder and scarier scams than ever"
"Banks are no longer just financing heavy industry. They are actually buying it up and inventing bigger, bolder and scarier scams than ever"
Obama Will Now Include Workers With Disabilities In His Minimum Wage Hike
www.thinkprogress.org/health/2014/02/12/3282161/obama-workers-disabilities-minimum-wage-hike/
"The Obama administration announced on Wednesday that it will expand the scope of its forthcoming Executive Order raising new federal contractors’ minimum wages to $10.10 per hour to include workers with disabilities — a major shift that could substantially boost salaries for an estimated 50,000 Americans with disabilities who can legally be paid less than the federal minimum wage under current law."
"The Obama administration announced on Wednesday that it will expand the scope of its forthcoming Executive Order raising new federal contractors’ minimum wages to $10.10 per hour to include workers with disabilities — a major shift that could substantially boost salaries for an estimated 50,000 Americans with disabilities who can legally be paid less than the federal minimum wage under current law."
New Bridgegate Subpoenas Focus On Bill Baroni's Testimony
New Bridgegate Subpoenas Focus On Bill Baroni's Testimony
"Sounds like they're looking to see if Port Authority exec director Bill Baroni's testimony before the state assembly committee was coordinated (and possibly untruthful). I'll betthey find something"
"Sounds like they're looking to see if Port Authority exec director Bill Baroni's testimony before the state assembly committee was coordinated (and possibly untruthful). I'll betthey find something"
Oh Dear: Wolff & Samson Lobbyist Was Pushing For Hoboken Train Station
Oh Dear: Wolff & Samson Lobbyist Was Pushing For Hoboken Train Station
"Uh oh. This is not good news for our beloved New Jersey governor"
"Uh oh. This is not good news for our beloved New Jersey governor"
Meet The Other Billionaire Brothers Funding Right-Wing Causes
Meet The Other Billionaire Brothers Funding Right-Wing Causes
"Flush with their new wealth, both brothers set up foundations and set about the business of being charitable fellows, while reaping a nice tax benefit for their largesse. Dan Wilks limited the majority of his charitable activity to church donations and crisis centers, but Farris Wilks linked arms with the Kochtopus and helped fund many right-wing, anti-choice efforts around the country in 2012 through the Thirteen Foundation."
"Flush with their new wealth, both brothers set up foundations and set about the business of being charitable fellows, while reaping a nice tax benefit for their largesse. Dan Wilks limited the majority of his charitable activity to church donations and crisis centers, but Farris Wilks linked arms with the Kochtopus and helped fund many right-wing, anti-choice efforts around the country in 2012 through the Thirteen Foundation."
The Mobsters of Wall Street | Common Dreams
The Mobsters of Wall Street | Common Dreams
"Only 25 years ago, more than a thousand bankers were prosecuted for this sort of malfeasance during the savings & loan scandal. Let's return to the ethical accountability of those days. Or maybe We the People should send our own message to today's banksters by rolling a guillotine down the center of Wall Street."
"Only 25 years ago, more than a thousand bankers were prosecuted for this sort of malfeasance during the savings & loan scandal. Let's return to the ethical accountability of those days. Or maybe We the People should send our own message to today's banksters by rolling a guillotine down the center of Wall Street."
Tuesday, February 11, 2014
Krugman: We Live In Age of Angry Billionaires
Krugman: We Live In Age of Angry Billionaires
"The latest cliché to spew out of self-righteous, self-unaware Republicans like Paul Ryan is this idea of the "dignity of work." This overused phrase is a bad joke when seen through the lens of workers earning $7.25 per hour while billionaires earn that in seconds without lifting a finger."
"The latest cliché to spew out of self-righteous, self-unaware Republicans like Paul Ryan is this idea of the "dignity of work." This overused phrase is a bad joke when seen through the lens of workers earning $7.25 per hour while billionaires earn that in seconds without lifting a finger."
Monday, February 10, 2014
80,000 March in North Carolina Proudly Pushing Back Against Radical Right Agenda
www.alternet.org/activism/80000-march-north-carolina-proudly-pushing-back-against-radical-right-agenda
"On Saturday, a crowd of riled-up citizens the North Carolina NAACP estimated to be upwards of 80,000—the largest such gathering in the South since the 1965 Selma to Montgomery march—headed to the state capitol to protest the extremist policies of North Carolina's GOP-controlled legislature."
"On Saturday, a crowd of riled-up citizens the North Carolina NAACP estimated to be upwards of 80,000—the largest such gathering in the South since the 1965 Selma to Montgomery march—headed to the state capitol to protest the extremist policies of North Carolina's GOP-controlled legislature."
PERRspectives: Post's Thiessen Tortures Logic with Bogus $70 Billion Obamacare Pay Cut
PERRspectives: Post's Thiessen Tortures Logic with Bogus $70 Billion Obamacare Pay Cut
"And now for today's math quiz. Let's say you decide to work 2 percent fewer hours this year. At the end of the year, your total compensation is 1 percent lower. Does that mean you got a pay cut?
If you answered "yes," you might want to reread the question. Or, you might be Marc Thiessen, former Bush speechwriter and torture enthusiast turned AEI fellow and Washington Post columnist.
Writing in Monday's Post, Thiessen tried to add a sequel to the GOP's discredited sound bite that the Affordable Care Act will cost the U.S. economy 2.5 million jobs over the next decade. On the same day the Congressional Budget Office (CBO) once again debunked that tried but untrue talking point, Dubya's former wordsmith concocted a new one"
"And now for today's math quiz. Let's say you decide to work 2 percent fewer hours this year. At the end of the year, your total compensation is 1 percent lower. Does that mean you got a pay cut?
If you answered "yes," you might want to reread the question. Or, you might be Marc Thiessen, former Bush speechwriter and torture enthusiast turned AEI fellow and Washington Post columnist.
Writing in Monday's Post, Thiessen tried to add a sequel to the GOP's discredited sound bite that the Affordable Care Act will cost the U.S. economy 2.5 million jobs over the next decade. On the same day the Congressional Budget Office (CBO) once again debunked that tried but untrue talking point, Dubya's former wordsmith concocted a new one"
Chris Hedges: Crisis Zones, Collapse and the Antidote to Defeatism - Truthdig
Chris Hedges: Crisis Zones, Collapse and the Antidote to Defeatism - Truthdig
"Truthdig columnist Chris Hedges spoke with RT’s Abby Martin on “Breaking the Set” about the forces driving the acceleration of global decline."
"Truthdig columnist Chris Hedges spoke with RT’s Abby Martin on “Breaking the Set” about the forces driving the acceleration of global decline."
Behold How Badly Our Political Journalists Have Lost the Freakin’ Plot | Common Dreams
Behold How Badly Our Political Journalists Have Lost the Freakin’ Plot | Common Dreams
"It happened this week with a post by Chris Cillizza, one of the Washington Post’s franchise players on the national politics beat"
"It happened this week with a post by Chris Cillizza, one of the Washington Post’s franchise players on the national politics beat"
Spending Down, Deficits Halved and Public Sector Smaller Since Obama Took Office
Spending Down, Deficits Halved and Public Sector Smaller Since Obama Took Office
"Despite the GOP myth-making, federal spending has declined, deficits have been halved and the public sector is smaller since Barack Obama first took the oath of office."
"Despite the GOP myth-making, federal spending has declined, deficits have been halved and the public sector is smaller since Barack Obama first took the oath of office."
Turning Up Heat on Banks Funding Fossil Fuels | Common Dreams
Turning Up Heat on Banks Funding Fossil Fuels | Common Dreams
"As environmental writer and activist Bill McKibben tells Bill Moyers on this week’s Moyers & Company about the student movement for colleges and universities to divest themselves of stock from companies that produce or burn oil, gas and coal, The Wall Street Journal reports another front in the fight against climate-changing fossil fuels: the banking industry."
"As environmental writer and activist Bill McKibben tells Bill Moyers on this week’s Moyers & Company about the student movement for colleges and universities to divest themselves of stock from companies that produce or burn oil, gas and coal, The Wall Street Journal reports another front in the fight against climate-changing fossil fuels: the banking industry."
North Carolina’s Moral Monday Movement Kicks Off 2014 With a Massive Rally in Raleigh | The Nation
North Carolina’s Moral Monday Movement Kicks Off 2014 With a Massive Rally in Raleigh | The Nation
"So it was fitting that North Carolina’s Moral Monday movement held a massive “Moral March” in Raleigh today which began at Shaw University, exactly fifty-four years after North Carolina’s trailblazing role in the civil rights movement. Tens of thousands of activists—from all backgrounds, races and causes—marched from Shaw to the North Carolina State Capitol, where they held an exuberant rally protesting the right-wing policies of the North Carolina government and commemorating the eighth anniversary of the HKonJ coalition (the acronym stands for Historic Thousands on Jones Street, where the NC legislature sits)."
"So it was fitting that North Carolina’s Moral Monday movement held a massive “Moral March” in Raleigh today which began at Shaw University, exactly fifty-four years after North Carolina’s trailblazing role in the civil rights movement. Tens of thousands of activists—from all backgrounds, races and causes—marched from Shaw to the North Carolina State Capitol, where they held an exuberant rally protesting the right-wing policies of the North Carolina government and commemorating the eighth anniversary of the HKonJ coalition (the acronym stands for Historic Thousands on Jones Street, where the NC legislature sits)."
PERRspectives: For Republicans, CBO Stands for Conservative Bulls**t Obliterator
PERRspectives: For Republicans, CBO Stands for Conservative Bulls**t Obliterator
"Despite their trumpeting of its latest budget report, it's no secret that Republicans hate the nonpartisan Congressional Budget Office (CBO). In 2011, House Majority Leader Eric Cantor (R-VA) denounced the CBO's forecast that the Affordable Care Act will reduce--not increase--the U.S. national debt, calling its projections "budget gimmickry." That November, momentary GOP presidential frontrunner Newt Gingrich called for the death penalty, declaring "If you are serious about real health reform, you must abolish the Congressional Budget Office because it lies."
Of course, the GOP hates the Congressional Budget Office not because it lies, but because it produces inconvenient truths."
"Despite their trumpeting of its latest budget report, it's no secret that Republicans hate the nonpartisan Congressional Budget Office (CBO). In 2011, House Majority Leader Eric Cantor (R-VA) denounced the CBO's forecast that the Affordable Care Act will reduce--not increase--the U.S. national debt, calling its projections "budget gimmickry." That November, momentary GOP presidential frontrunner Newt Gingrich called for the death penalty, declaring "If you are serious about real health reform, you must abolish the Congressional Budget Office because it lies."
Of course, the GOP hates the Congressional Budget Office not because it lies, but because it produces inconvenient truths."
How Entitlements for the Rich Cheat the Rest of Us | Common Dreams
How Entitlements for the Rich Cheat the Rest of Us | Common Dreams
"The sense of entitlement among the very rich is understandable, for it helps them to justify the massive redistribution of wealth that has occurred over the past 65 years, especially in the past 30 years. National investment in infrastructure, technology, and security has made America a rich country. The financial industry has used our publicly-developed communications technology to generate trillions of dollars in new earnings, while national security protects their interests. The major beneficiaries have convinced themselves they did it on their own. They believe they're entitled to it all."
"The sense of entitlement among the very rich is understandable, for it helps them to justify the massive redistribution of wealth that has occurred over the past 65 years, especially in the past 30 years. National investment in infrastructure, technology, and security has made America a rich country. The financial industry has used our publicly-developed communications technology to generate trillions of dollars in new earnings, while national security protects their interests. The major beneficiaries have convinced themselves they did it on their own. They believe they're entitled to it all."
Saturday, February 8, 2014
David Brooks Blames Our Economic Problems on Being 'Middle-Aged'
David Brooks Blames Our Economic Problems on Being 'Middle-Aged'
"So Brooks can't talk about the fact that the stimulus package wasn't big enough. He can't admit that the last forty plus years of trickle-down economics has been a failure. He sure doesn't want to see more people join unions and be allowed to earn a living wage. So this is what he's left with."
"So Brooks can't talk about the fact that the stimulus package wasn't big enough. He can't admit that the last forty plus years of trickle-down economics has been a failure. He sure doesn't want to see more people join unions and be allowed to earn a living wage. So this is what he's left with."
Tens of Thousands in “Mass Moral March” | Common Dreams
Tens of Thousands in “Mass Moral March” | Common Dreams
"Tens of thousands of people are marching through downtown Raleigh, North Carolina Saturday in what organizers describe as a “Mass Moral March” to push back against rightwing legislation."
"Tens of thousands of people are marching through downtown Raleigh, North Carolina Saturday in what organizers describe as a “Mass Moral March” to push back against rightwing legislation."
Evidence Mounting that Walker Campaign Is at Center of Criminal Probe
Evidence Mounting that Walker Campaign Is at Center of Criminal Probe
"A John Doe is similar to a grand jury investigation, but in front of a judge rather than a jury, and is conducted under strict secrecy orders. Wisconsin's 4th Circuit Court of Appeals unsealed some documents last week as it rejected a challenge to the probe filed by three of the unnamed "special interest groups" that had received subpoenas in the investigation and issued a ruling allowing the investigation to move forward."
"A John Doe is similar to a grand jury investigation, but in front of a judge rather than a jury, and is conducted under strict secrecy orders. Wisconsin's 4th Circuit Court of Appeals unsealed some documents last week as it rejected a challenge to the probe filed by three of the unnamed "special interest groups" that had received subpoenas in the investigation and issued a ruling allowing the investigation to move forward."
Another 2016 Hopeful Bites the Dust as Scott Walker Appears to be Under Investigation
www.politicususa.com/2014/02/08/scott-walkers-recall-campaign-appears-john-doe-probe.html
"Beyond Governor Scott Walker’s slobbering submission to the Koch brothers, what is going on here is an example of why the Republicans made a big deal out of a fake IRS scandal. They ginned up that scandal to tire the public of the subject, because the truth is that they are abusing the Citizens United ruling. Scott Walker’s campaign’s intimate ties with Club for Growth are the perfect example of how they are doing this."
"Beyond Governor Scott Walker’s slobbering submission to the Koch brothers, what is going on here is an example of why the Republicans made a big deal out of a fake IRS scandal. They ginned up that scandal to tire the public of the subject, because the truth is that they are abusing the Citizens United ruling. Scott Walker’s campaign’s intimate ties with Club for Growth are the perfect example of how they are doing this."
Moral March on Raleigh today
Moral March on Raleigh today
"While a lot of us sit on our butts and yell at the computer, the rallies created by Moral Monday organizers in North Carolina just keep keep getting bigger."
"While a lot of us sit on our butts and yell at the computer, the rallies created by Moral Monday organizers in North Carolina just keep keep getting bigger."
Friday, February 7, 2014
Koch Group Goes After Medicaid Expansion in Louisiana
Koch Group Goes After Medicaid Expansion in Louisiana
"It's stunning but not at all surprising to see the Kochs go all out in Louisiana to try and kill the Medicaid expansion for people earning less than 138% of the federal poverty level. Because really, we don't want the poor folks -- especially poor folk of color -- to have access to decent medical care, now do we?"
"It's stunning but not at all surprising to see the Kochs go all out in Louisiana to try and kill the Medicaid expansion for people earning less than 138% of the federal poverty level. Because really, we don't want the poor folks -- especially poor folk of color -- to have access to decent medical care, now do we?"
My Favorite Measure of Labor Market Health is Looking a Little Better
My Favorite Measure of Labor Market Health is Looking a Little Better
"Given that declines in the unemployment rate are providing a murky picture of trends in labor market health in this recovery, I think a much more useful indicator is the employment-to-population ratio of “prime-age” workers (workers age 25–54). (In fact, I’ve sometimes referred to this as my “desert island” measure—i.e. if I were headed to a desert island and could only take one measure with me to judge current trends in labor market conditions, this would be it.) The employment-to-population ratio (or EPOP) is simply the share of the population with a job, so this measure entirely sidesteps the issue of whether potential workers are in the labor force. Restricting our attention to prime-age workers serves the important purpose of avoiding confounding changes in employment that are not due to labor market conditions but are instead due to longer-run structural factors, such as baby boomers hitting retirement age and declining employment of young adults due to increased college enrollment."
"Given that declines in the unemployment rate are providing a murky picture of trends in labor market health in this recovery, I think a much more useful indicator is the employment-to-population ratio of “prime-age” workers (workers age 25–54). (In fact, I’ve sometimes referred to this as my “desert island” measure—i.e. if I were headed to a desert island and could only take one measure with me to judge current trends in labor market conditions, this would be it.) The employment-to-population ratio (or EPOP) is simply the share of the population with a job, so this measure entirely sidesteps the issue of whether potential workers are in the labor force. Restricting our attention to prime-age workers serves the important purpose of avoiding confounding changes in employment that are not due to labor market conditions but are instead due to longer-run structural factors, such as baby boomers hitting retirement age and declining employment of young adults due to increased college enrollment."
Must-see morning clip: To Fox News, corporations are “better people than you”
Must-see morning clip: To Fox News, corporations are “better people than you”
"Fox News anchors, are in a full-on frenzy over the recent CBO report about the impact of Obamacare on the economy. According to them, the report says that Americans are going to lose around 2 million full-time jobs.
According to the CBO, however, the report by the CBO says nothing of the sort. “This isn’t employers cutting jobs,” clarified New Jersey congressman Bill Pascrell in a meeting with CBO director Douglas Elmendorf. “It’s newly empowered workers choosing to go a different path.”
“So the three main talking points against Obamacare are, according to the CBO, not true,” summarizes Stewart.
But pundits at Fox continue to debate yell that the increased access to healthcare deincentivizes people to work."
"Fox News anchors, are in a full-on frenzy over the recent CBO report about the impact of Obamacare on the economy. According to them, the report says that Americans are going to lose around 2 million full-time jobs.
According to the CBO, however, the report by the CBO says nothing of the sort. “This isn’t employers cutting jobs,” clarified New Jersey congressman Bill Pascrell in a meeting with CBO director Douglas Elmendorf. “It’s newly empowered workers choosing to go a different path.”
“So the three main talking points against Obamacare are, according to the CBO, not true,” summarizes Stewart.
But pundits at Fox continue to debate yell that the increased access to healthcare deincentivizes people to work."
Top Texas Republicans Dodge Chris Christie. Will More Follow?
Top Texas Republicans Dodge Chris Christie. Will More Follow?
"Rick Perry and the Republican Candidate for Texas Governor Greg Abbott made sure they were nowhere to be found when Gov. Christie came to Texas for a fundraising trip."
"Rick Perry and the Republican Candidate for Texas Governor Greg Abbott made sure they were nowhere to be found when Gov. Christie came to Texas for a fundraising trip."
Message to Multi-Billionaire Sam Zell: No, the 1% Don't Work Harder
Message to Multi-Billionaire Sam Zell: No, the 1% Don't Work Harder
"Of course, being a multi-billionaire generally requires a narcissistic ruthlessness that allows one to fleece people without the least bit of compunction. It also enables many in the 1% to indulge in the fantasy that they are actually contributing to embettering society, rather than just accepting the fact that they are extraordinarily skilled at avaricious scheming on a massive scale."
"Of course, being a multi-billionaire generally requires a narcissistic ruthlessness that allows one to fleece people without the least bit of compunction. It also enables many in the 1% to indulge in the fantasy that they are actually contributing to embettering society, rather than just accepting the fact that they are extraordinarily skilled at avaricious scheming on a massive scale."
Jobs Report: Conservative Budget Austerity Continues To Cripple The Economy | Common Dreams
Jobs Report: Conservative Budget Austerity Continues To Cripple The Economy | Common Dreams
"The lesson from this disappointing jobs numbers: Congress should stop imposing job-killing austerity and take steps to invest in job creation. The Senate should pass an extension of unemployment insurance for the long-term unemployed, and the House should quickly pass it and send it to the president."
"The lesson from this disappointing jobs numbers: Congress should stop imposing job-killing austerity and take steps to invest in job creation. The Senate should pass an extension of unemployment insurance for the long-term unemployed, and the House should quickly pass it and send it to the president."
5 Obnoxious Libertarian Oligarchs Who Earned Fortunes from the Government They'd Like to Destroy
www.alternet.org/economy/5-obnoxious-libertarian-oligarchs-who-earned-fortunes-government-theyd-destroy
"The cult of the libertarian-minded ultra-weatlhy would make an intriguing anthropological case study. But it would be a case study with a twist: its research subjects increasingly control our economy, our politics, and even our personal lives."
"The cult of the libertarian-minded ultra-weatlhy would make an intriguing anthropological case study. But it would be a case study with a twist: its research subjects increasingly control our economy, our politics, and even our personal lives."
Thursday, February 6, 2014
Billionaire: Stop ‘Envy Of The One Percent’ And Start Working Harder
www.thinkprogress.org/economy/2014/02/06/3260241/zell-billionaire-inequality/
"Contrary to Zell’s belief, people are working harder without being better rewarded. Since 2000, the gap between productivity and compensation has grown larger than ever before, the Economic Policy Institute reports, creating a “lost decade” for U.S. workers. The federal minimum wage is at its lowest inflation-adjusted level since 1968, and the economic divide has damaged overall growth."
"Contrary to Zell’s belief, people are working harder without being better rewarded. Since 2000, the gap between productivity and compensation has grown larger than ever before, the Economic Policy Institute reports, creating a “lost decade” for U.S. workers. The federal minimum wage is at its lowest inflation-adjusted level since 1968, and the economic divide has damaged overall growth."
Barclays Bonuses Rise to Nearly $4 Billion: Where Is the Outrage?
Barclays Bonuses Rise to Nearly $4 Billion: Where Is the Outrage?
"All these fines for financial fraud, manipulation and misrepresentation of risk (among other illegal behavior) indicate that Wall Street knowingly skirts the law and regulations. The financial firms factor in fines as a small price to pay for billions and billions of dollars in profit from gaming the system."
"All these fines for financial fraud, manipulation and misrepresentation of risk (among other illegal behavior) indicate that Wall Street knowingly skirts the law and regulations. The financial firms factor in fines as a small price to pay for billions and billions of dollars in profit from gaming the system."
Sen. Warren: Are We Making It Easier for Big Banks to Break the Law? | Common Dreams
Sen. Warren: Are We Making It Easier for Big Banks to Break the Law? | Common Dreams
"That was the question posed by Senator Elizabeth Warren (D-Mass.) Thursday at the Senate Banking Committee Hearing, referencing the whopping raise recently given to Jamie Dimon, CEO of JPMorgan, whose Board of Directors awarded him the pay hike after the company spent billions to settle claims with the federal government over illegal conduct."
"That was the question posed by Senator Elizabeth Warren (D-Mass.) Thursday at the Senate Banking Committee Hearing, referencing the whopping raise recently given to Jamie Dimon, CEO of JPMorgan, whose Board of Directors awarded him the pay hike after the company spent billions to settle claims with the federal government over illegal conduct."
Sen. Warren: Does Anyone Here Really Think This Is Working?
Sen. Warren: Does Anyone Here Really Think This Is Working?
Warren Said "Does anyone on this panel seriously think that the government's enforcement system for financial crimes is actually working in terms of deferring future crimes?"
Warren Said "Does anyone on this panel seriously think that the government's enforcement system for financial crimes is actually working in terms of deferring future crimes?"
Breaking: GOP Blocks Bill To Extend Unemployment Benefits --- By One Vote
Breaking: GOP Blocks Bill To Extend Unemployment Benefits --- By One Vote
"An estimated 1.7 million unemployed Americans were kicked in the teeth today by the Republican party -- again. The extension was filibustered in the Senate, and lost by one vote."
"An estimated 1.7 million unemployed Americans were kicked in the teeth today by the Republican party -- again. The extension was filibustered in the Senate, and lost by one vote."
R.I.P. Republican credibility: Why their latest blatant lies show they’ve given up
R.I.P. Republican credibility: Why their latest blatant lies show they’ve given up
"That fact was underscored again this week and over the weekend, in light of the release of two different official reports, one from the U.S. State Department on the proposed Keystone XL Pipeline project and another from the Congressional Budget Office on the economic outlook in light of the Affordable Care Act.
Never mind whether you agree with the Republican position on either of those two policies. The fact that the party feels it necessary to blatantly lie about what’s in each of those reports, specifically with regard to “job creation,” in order to advocate for their own policy positions, underscores yet again that these are simply not serious people are worth being taken seriously anymore …"
"That fact was underscored again this week and over the weekend, in light of the release of two different official reports, one from the U.S. State Department on the proposed Keystone XL Pipeline project and another from the Congressional Budget Office on the economic outlook in light of the Affordable Care Act.
Never mind whether you agree with the Republican position on either of those two policies. The fact that the party feels it necessary to blatantly lie about what’s in each of those reports, specifically with regard to “job creation,” in order to advocate for their own policy positions, underscores yet again that these are simply not serious people are worth being taken seriously anymore …"
Post Office Banking Could Be the Start of Something Big | Common Dreams
Post Office Banking Could Be the Start of Something Big | Common Dreams
"Sen. Elizabeth Warren has endorsed the postal-banking concept, which David Dayen describes in more detail here. As Sen. Warren wrote recently, “if the Postal Service offered basic banking services — nothing fancy, just basic bill paying, check cashing and small-dollar loans — then it could provide affordable financial services for underserved families, and, at the same time, shore up its own financial footing"."
"Sen. Elizabeth Warren has endorsed the postal-banking concept, which David Dayen describes in more detail here. As Sen. Warren wrote recently, “if the Postal Service offered basic banking services — nothing fancy, just basic bill paying, check cashing and small-dollar loans — then it could provide affordable financial services for underserved families, and, at the same time, shore up its own financial footing"."
Wednesday, February 5, 2014
Koch Kronies Aren't Just For Kids
Koch Kronies Aren't Just For Kids
"This latest libertarian production intends to reach young people with a populist message brought to them by the Koch brothers."
"This latest libertarian production intends to reach young people with a populist message brought to them by the Koch brothers."
The Koch Brothers Left a Confidential Document at Their Last Donor Conference—Read It Here
www.motherjones.com/politics/2014/02/koch-brothers-palm-springs-donor-list
"The more than 40 donors courted by the Kochs include hedge fund and private-equity billionaires, real estate tycoons, and executives of top corporations, including Jockey International and TRT Holdings, owner of Omni Hotels and Gold's Gym. A number of them have never been identified as members of the Koch donor network, including Schnatter, one of the more prominent names on the list. An outspoken opponent of the Affordable Care Act, he is a longtime Republican donor who hosted a fundraiser for Mitt Romney's presidential campaign. The document notes that the pizza mogul was scheduled to meet with Ryan Stowers, the director of higher education at the Charles G. Koch Foundation. (Schnatter did not respond to requests for comment.)"
"The more than 40 donors courted by the Kochs include hedge fund and private-equity billionaires, real estate tycoons, and executives of top corporations, including Jockey International and TRT Holdings, owner of Omni Hotels and Gold's Gym. A number of them have never been identified as members of the Koch donor network, including Schnatter, one of the more prominent names on the list. An outspoken opponent of the Affordable Care Act, he is a longtime Republican donor who hosted a fundraiser for Mitt Romney's presidential campaign. The document notes that the pizza mogul was scheduled to meet with Ryan Stowers, the director of higher education at the Charles G. Koch Foundation. (Schnatter did not respond to requests for comment.)"
Koch Donor List Unmasked!
Koch Donor List Unmasked!
"It's an impressive list. Hedge fund managers, Americans for Prosperity representatives, Koch Industries representatives and corporate funders all in one place. Assume they all belong to the Million Dollar Donation club, since I think that's the minimum amount these guys can donate to belong."
"It's an impressive list. Hedge fund managers, Americans for Prosperity representatives, Koch Industries representatives and corporate funders all in one place. Assume they all belong to the Million Dollar Donation club, since I think that's the minimum amount these guys can donate to belong."
Elizabeth Warren Backs Plan to Save USPS, Kill Payday Lending
Elizabeth Warren Backs Plan to Save USPS, Kill Payday Lending
"Elizabeth Warren's plan to allow the USPS to offer banking services is brilliant and practical --which means Republicans will fight it tooth and nail."
"Elizabeth Warren's plan to allow the USPS to offer banking services is brilliant and practical --which means Republicans will fight it tooth and nail."
Tuesday, February 4, 2014
Christie’s shameless, desperate new play: Wooing the GOP base
Christie’s shameless, desperate new play: Wooing the GOP base
"It’s almost sad. Chris Christie, putative GOP savior, supposed scourge of the party’s right-wing saboteurs, in the minds of Republican establishment figures and donors anyway, is now courting the far-right base he was supposed to crush.
Desperately clutching his presidential hopes when he ought to be working to remain as New Jersey’s governor, Christie is taking a page from an old GOP playbook: attacking the “liberal media” while courting reactionaries – specifically those who gather annually at the Conservative Political Action Committee.
You may recall that last year Christie was snubbed by the folks who organize the annual winter gathering of the far-right faithful. Mitt Romney went so far as to implore CPAC to listen to voices like Christie’s."
"It’s almost sad. Chris Christie, putative GOP savior, supposed scourge of the party’s right-wing saboteurs, in the minds of Republican establishment figures and donors anyway, is now courting the far-right base he was supposed to crush.
Desperately clutching his presidential hopes when he ought to be working to remain as New Jersey’s governor, Christie is taking a page from an old GOP playbook: attacking the “liberal media” while courting reactionaries – specifically those who gather annually at the Conservative Political Action Committee.
You may recall that last year Christie was snubbed by the folks who organize the annual winter gathering of the far-right faithful. Mitt Romney went so far as to implore CPAC to listen to voices like Christie’s."
Democrats Introduce Bill to Restore FCC's Net Neutrality Rules
Democrats Introduce Bill to Restore FCC's Net Neutrality Rules
"Democrats in Congress introduced legislation Monday that would restore the Federal Communications Commission's (FCC) net-neutrality rules that were struck down by a federal appeals court last month."
"Democrats in Congress introduced legislation Monday that would restore the Federal Communications Commission's (FCC) net-neutrality rules that were struck down by a federal appeals court last month."
California Considers Raising Its Minimum Wage To The Highest In The Country
www.thinkprogress.org/economy/2014/02/04/3245591/california-minimum-wage-highest/
"In an effort that could raise California’s minimum wage to the highest in the country, State Senator Mark Leno (D) introduced a bill this past Monday that would increase the state’s minimum wage to $11 in 2015, $12 in 2016, $13 in 2017, and finally to an annually adjusted wage tied to increases in inflation beginning in 2018. The new bill comes only months after Gov. Jerry Brown (D) signed a bill to increase the minimum wage to $9 this coming July and then to $10 in 2016."
"In an effort that could raise California’s minimum wage to the highest in the country, State Senator Mark Leno (D) introduced a bill this past Monday that would increase the state’s minimum wage to $11 in 2015, $12 in 2016, $13 in 2017, and finally to an annually adjusted wage tied to increases in inflation beginning in 2018. The new bill comes only months after Gov. Jerry Brown (D) signed a bill to increase the minimum wage to $9 this coming July and then to $10 in 2016."
Why Did Obama Go to Costco? Our Wage Calculator Explains
www.motherjones.com/politics/2014/01/costco-vs-walmart-how-many-hours-do-you-need-work-survive
"Check how many hours it would take you to make a living working at Costco vs. Walmart." (Reposted)
"Check how many hours it would take you to make a living working at Costco vs. Walmart." (Reposted)
Bridge scandal: Bridget Kelly refuses to turn over documents subpoenaed by legislative committee
Bridge scandal: Bridget Kelly refuses to turn over documents subpoenaed by legislative committee
"Bridget Anne Kelly, considered a crucial figure in unraveling the George Washington Bridge lane closures, is refusing to produce documents and information requested under subpoena by the state legislative committee investigating the controversy, The Star-Ledger has learned."
"Bridget Anne Kelly, considered a crucial figure in unraveling the George Washington Bridge lane closures, is refusing to produce documents and information requested under subpoena by the state legislative committee investigating the controversy, The Star-Ledger has learned."
Moral Monday Protests Inspire Truthful Tuesdays | Common Dreams
Moral Monday Protests Inspire Truthful Tuesdays | Common Dreams
"Moral Monday, the populist movement in North Carolina that saw a diverse coalition of thousands of progressive activists descend upon the state legislature, is now spreading throughout the U.S. South."
"Moral Monday, the populist movement in North Carolina that saw a diverse coalition of thousands of progressive activists descend upon the state legislature, is now spreading throughout the U.S. South."
Haley Barbour Should be Banned From Defending Gov. Chris Christie On TV News
Haley Barbour Should be Banned From Defending Gov. Chris Christie On TV News
"Gov. Haley Barbour is a lobbyist for AshBritt, a Florida debris-removal company that received a no-bid contract from Gov. Chris Christie for Hurricane Sandy debris removal. Would you be surprised to learn that Barbour is also a huge Chris Christie supporter?"
"Gov. Haley Barbour is a lobbyist for AshBritt, a Florida debris-removal company that received a no-bid contract from Gov. Chris Christie for Hurricane Sandy debris removal. Would you be surprised to learn that Barbour is also a huge Chris Christie supporter?"
Monday, February 3, 2014
Four Examples of America's Inequality
Four Examples of America's Inequality
"Conservatives argue that individuals should be able to improve their economic positions with personal initiative and hard work. But economic mobility is lower in the U.S. than in most developed countries. And lower than in many undeveloped countries."
"Conservatives argue that individuals should be able to improve their economic positions with personal initiative and hard work. But economic mobility is lower in the U.S. than in most developed countries. And lower than in many undeveloped countries."
Darrell Issa’s Agenda Outed As He Is Labeled a Pure Enemy Of The U.S. Postal Service
www.politicususa.com/2014/02/03/darrell-issas-agenda-outed-proclaimed-pure-enemy-u-s-postal-service.html
"Republicans are out to destroy the USPS because they employ over 500,000 Americans, many of them Veterans, who all happen to belong to a union and earn middle class incomes. The USPS would not have to “farm out” services to low-paying retail corporations like Staples if Republicans did not pass a requirement that no company on Earth could survive. Republicans knew the postal service would be profitable without the pre-funding requirement. One thing is certain, if it was a requirement they felt would help businesses, they would demand that churches, WalMart, McDonalds, the oil industry, and agricultural corporations that reap taxpayer subsidies while posting obscene profits follow the same requirements. The postal service is being singled out because workers make living wages, belong to unions, and are considered a government entity’s employees that put them squarely in the crosshairs for privatization Republicans are hastening by attempting to end Saturday delivery and completely phase out the postal service by 2022."
"Republicans are out to destroy the USPS because they employ over 500,000 Americans, many of them Veterans, who all happen to belong to a union and earn middle class incomes. The USPS would not have to “farm out” services to low-paying retail corporations like Staples if Republicans did not pass a requirement that no company on Earth could survive. Republicans knew the postal service would be profitable without the pre-funding requirement. One thing is certain, if it was a requirement they felt would help businesses, they would demand that churches, WalMart, McDonalds, the oil industry, and agricultural corporations that reap taxpayer subsidies while posting obscene profits follow the same requirements. The postal service is being singled out because workers make living wages, belong to unions, and are considered a government entity’s employees that put them squarely in the crosshairs for privatization Republicans are hastening by attempting to end Saturday delivery and completely phase out the postal service by 2022."
The Populist Moment
The Populist Moment
"The signs increasingly indicate that, however much the folkways of Washington may resist, this nation has entered a Populist Moment. If you live and work inside the Beltway, you ignore it at your own peril."
"The signs increasingly indicate that, however much the folkways of Washington may resist, this nation has entered a Populist Moment. If you live and work inside the Beltway, you ignore it at your own peril."
Decent Economic Growth Hides The Increasing Gap Between the Rich and Everyone Else
www.politicususa.com/2014/02/02/decent-economic-growth-hides-increasing-gap-rich.html
"It is important to remember that the Commerce Department, Congressional Budget Office, and every economist not working for the Heritage Foundation predicted austerity would take a toll on economic growth that bore fruit in 2013, but it still predominates Republican economic policy and Americans will continue suffering until austerity is rejected. Of course, Republicans are well aware their austerity is crushing the economic life out of Americans and that their wealthy donors are reaping the benefits of austerity that protects them from tax reform to close loopholes that only the rich benefit from. Closing loopholes would help fund the more than $1 trillion infrastructure improvements called for by fiscal conservative and Republican economic expert Martin Feldstein. However, Republicans are not about to make any moves that help the economy, or millions of Americans struggling with economic insecurity because as long as promising economic reports benefit their wealthy donors exclusively, they will cling to austerity because it kills jobs, increases poverty, and protects the rich."
"It is important to remember that the Commerce Department, Congressional Budget Office, and every economist not working for the Heritage Foundation predicted austerity would take a toll on economic growth that bore fruit in 2013, but it still predominates Republican economic policy and Americans will continue suffering until austerity is rejected. Of course, Republicans are well aware their austerity is crushing the economic life out of Americans and that their wealthy donors are reaping the benefits of austerity that protects them from tax reform to close loopholes that only the rich benefit from. Closing loopholes would help fund the more than $1 trillion infrastructure improvements called for by fiscal conservative and Republican economic expert Martin Feldstein. However, Republicans are not about to make any moves that help the economy, or millions of Americans struggling with economic insecurity because as long as promising economic reports benefit their wealthy donors exclusively, they will cling to austerity because it kills jobs, increases poverty, and protects the rich."
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