From the outside, it is hard to know that people live in the Ramada Inn. The parking lot is always empty. The hotel sits facing a wide suburban boulevard called Kipling Street, just off Interstate 70 in Wheat Ridge, Colorado. The interchange where Kipling meets the freeway is packed mornings and evenings with daily commuters going to or coming from Denver and with skiers heading west into the Rockies. Hotels dot I-70 as it cuts through the 764-square-mile stretch of suburbia that runs from the city into the mountains, but at the intersection with Kipling is a cluster of seven budget-savers that travel websites warn tourists away from. The hotels advertise low prices—ranging from $36 to $89 a night—on neon signs next to gigantic flags that whip in the Front Range wind. Most offer even lower weekly or monthly rates. The Ramada is farther from the frontage road than the other hotels and is harder to notice, with its plain yellow stucco and dimly lit red sign.
Prominent Democrats—including the president and House Minority Leader Nancy Pelosi—are openly suggesting that Medicare be means-tested and Social Security payments be reduced by applying a lower adjustment for inflation.
This is even before they’ve started budget negotiations with Republicans—who still refuse to raise taxes on the rich, close tax loopholes the rich depend on (such as hedge-fund and private-equity managers’ “carried interest”), increase capital gains taxes on the wealthy, cap their tax deductions, or tax financial transactions.
It’s not the first time Democrats have led with a compromise, but these particular pre-concessions are especially unwise.
On the tenth anniversary of George W. Bush's invasion of Iraq, we may be witnessing a seismic shift in America's politics of national security. After decades of using hawkish positions for partisan advantage, the Republican Party is facing a foreign policy identity crisis. Its brand is still stained by the Iraq War and the Global War on Terror, and the once-fringe views of Ron Paul are becoming mainstream among the public and party activists, as shown by the response to Senator Rand Paul's March 6 filibuster and his success at this past weekend's Conservative Political Action Conference.
Given Washington’s obsession with spending, this won’t enter the picture, but this figure—from a recent Gallup poll on immigration—is more important to the future of entitlement reform than any policy discussed by President Obama or Congress:
The Cyprus banking crisis presents, in microcosm, everything that is perverse about the European leaders’ response to the continuing financial collapse. And bravo to the Cypriot Parliament for rejecting the EU’s insane demand to condition a bank bailout on a large tax on small depositors.
Members of the Federal Reserve don’t usually make the rounds at partisan gatherings. But amid the tri-cornered hats and “#StandWithRand” buttons of last week’s Conservative Political Action Conference (CPAC)—the largest annual gathering of conservatives in the country—was Richard Fisher, President of the Dallas Federal Reserve Bank. In a Saturday morning speech, Fisher quoted Revolutionary War hero Patrick Henry, who once said that while “Different men often see the same subject in different lights,” such quibbling had to be set aside in a time of “awful moment to this country.”
It’s too late for Tonisha Howard, the mother of three in Milwaukee who was fired for leaving work to be with her hospitalized two-year-old. And for Felix Trinidad, who was so afraid of losing his job at Golden Farm fruit store in Brooklyn that he didn’t take time off to go to the doctor—even after he vomited blood. Trinidad, a father of two who had stomach cancer, continued to work until just days before his death from stomach cancer at age 34. But for workers in Portland and perhaps Philadelphia, paid sick days just got much closer to becoming reality.
“Our biggest problems over the next ten years are not deficits,” the president told House Republicans Wednesday, according to those who attended the meeting. The president needs to deliver the same message to the public, loudly and clearly. The biggest problems we face are unemployment, stagnant wages, slow growth, and widening inequality—not deficits. The major goal must be to get jobs and wages back, not balance the budget. Paul Ryan’s budget plan—essentially, the House Republican plan—is designed to lure the White House and Democrats, and the American public, into a debate over how to balance the federal budget in ten years, not over whether it’s worth doing.
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.
