It’s 11 a.m. on a brisk Friday morning. In the middle of a short block of 40th Road, just off Main Street in Queens, where colorful signs stand out against the densely packed four-story buildings, a handful of Chinese delivery workers dismount from their motorbikes. The dry pavement here is a welcome sight; much of the downtown area was buried under a foot of snow earlier in the week. The men, dressed in sneakers, blue jeans and puffy jackets, gather in a circle at one of the few empty parking spots.
When a crew that calls themselves the "Systemic Risk Council" speaks, it's a good idea to pay attention. After all, the last time people pooh-poohed deep-seated problems within the financial system, trillions of dollars vanished into thin air and millions of people were thrown out of work.
From the beginning of President Obama's term, Republicans have attacked him for "growing the size of government" and creating a false recovery with higher spending. but it's hard to see what they're talking about. Yes, there's the Affordable Care Act and Dodd-Frank. At the same time, however, the United States has seen a record decline in the number of public workers—since the official end of the recession, state and local governments (as well as the federal government) have laid off hundreds of thousands of workers.
With the Supreme Court expected to strike down a key piece of the Voting Rights Act later this year, now is a crucial moment for discussing Section 5's inarguable successes both in terms of civil rights and in improving the economic lives of Southern blacks.
Gavin Wright, a professor of American economic history at Stanford, has spent his career studying the economics of slavery, segregation, and the historical Southern economy. His recent book, Sharing the Prize, documents the economic impact that the civil rights acts of the mid-1960s had on Southerners, black and white.
The release of 2012 minimum-wage data last Wednesday—which shows that the number of minimum wage workers has fallen but is still higher than any period since 1998—has underscored the importance of making good on Obama’s pledge of raising the federal minimum wage from $7.25 to $9 an hour. As many have pointed out, women stand to benefit disproportionately from the increase: Two-thirds of the country’s roughly 1.6 million minimum-wage workers are women.
There are two things you can say about the recovery: It's slow, and it's remarkably durable. Even with the collapse of fiscal stimulus, the shocks of austerity, and a dysfunctional government, we've seen sluggish growth with just enough to bring down unemployment. And at times—such as the winter between 2011 and 2012—there were signs it was speeding up.
Long before we thought of founding The American Prospect in 1989, I came to know Paul Starr through a prescient article titled “Passive Intervention.” The piece was published in 1979, in a now-defunct journal, Working Papers for a New Society.
If the sequester had come to California 25 years ago, its effect would have been catastrophic. Today, its effects are decidedly less draconian – but since today’s California has a considerably less robust economy than that of the late '80s, the sequester will still cool off the state’s already tepid recovery.
Today has been an interesting day for filibusters. This morning, the Senate filibustered President Obama's nomination of Caitlin Halligan to the DC Circuit Court of Appeals. Halligan isn't unqualified and she isn't a radical. Her only offense is that Obama wants her for one of the most important courts in the country. As such, Republicans successfully filibuster her nomination, by a vote of 51 to 41. Sixty votes are needed to break a filibuster and move to a final vote.
President Obama gambled that the threat of the automatic sequester of $85 billion in domestic and defense cuts would force the Republicans to accept major tax increases, and so far he is losing the wager. The Republican leadership, which was badly divided over the New Year’s deal that delayed the fiscal cliff, is now re-united around the proposition that Republicans will accept no further tax increases.
President Obama gambled that the threat of the automatic sequester of $85 billion in domestic and defense cuts would force the Republicans to accept major tax increases, and so far he is losing the wager. The Republican leadership, which was badly divided over the New Years deal that delayed the fiscal cliff, is now re-united around the proposition that Republicans will accept no further tax increases.
When the sequester deadline came and went last Friday, it was hardly a surprise. In Congress, Republicans had repeatedly made clear they would be willing to let enormous cuts to discretionary spending take effect rather than compromise with the White House on raising revenue. But cutting off their nose to spite their face hasn’t quite worked. As it turns out, the GOP may be defacing its figurehead: the State of Texas.
America’s most futuristic governor seems borne back ceaselessly into the past these days. As he shows me around his office on a crisp winter morning, California Governor Jerry Brown points out not just the desk that his father, Edmund “Pat” Brown, used during his own term as governor from 1959 to 1967 but also photos of his grandparents and his great-grandfather, who came to California in the gold rush years. “He knew John Sutter,” Brown says. The only two governors in the past half-century who were native Californians, he points out, were he and his father.