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.
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.
This past January was the deadliest month in Chicago in more than a decade. Forty-two people lost their lives on the city’s streets, most of them to gun violence. For 2012, the total number of homicides was 509, of which 443 involved firearms. While most of the shootings could be attributed to gang feuds, innocent people were caught in crossfire that often erupted in broad daylight and on public streets.
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.
Because of its sins, the Roman Catholic Church is broken. The capital C in church is important; it signifies the institution, not the faithful. A wise Jesuit, the late Cardinal Avery Dulles, once wrote that the church can be viewed in different ways: as a herald, as a mystical communion, as an institution. It is the institution I am talking about.
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.
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.
With the sequester now beginning, I find myself thinking about Robert F. Kennedy—and 46 years ago when I was an intern in his Senate office.
1967 was a difficult time for the nation. America was deeply split over civil rights and the Vietnam War. Many of our cities were burning. The war was escalating.
But RFK was upbeat. He was also busy and intense—drafting legislation, lining up votes, speaking to the poor, inspiring the young. I was awed by his energy and optimism, and his overriding passion for social justice and the public good. (Within a few months he’d declare his intention to run for president. Within a year he’d be dead.)
Cristina Romer, Berkeley economics professor and the former head of President Obama’s Council of Economic Advisers, passed judgment on the merits of raising the minimum wage in Saturday’s New York Times, and in the process made clear why she wasn’t a member of the president’s de facto council of political advisers. She argued, as some mainstream economists do, that the merits of a heightened minimum wage were slight—that it may, for instance, raise prices, offsetting the gain to low-wage workers.
That there's a gap between black and white wealth is nothing new. Researchers have studied it for decades, people have lived it for longer, and comedians—from Chris Rock to Dave Chappelle—have used it to craft biting humor. What's novel is the extent to which its has exploded over the last 25 years.
The latest fiscal showdown concerns the “sequester”—across the board cuts to (almost entirely) discretionary spending that will total just over $1 trillion in the next decade, and which are set to take effect on March 1. What should those who have better things to do with their life than follow fiscal policy debates know about the sequester?
The White House apparently believes the best way to strengthen its hand in the upcoming “sequester” showdown with Republicans is to tell Americans how awful the spending cuts will be and blame Republicans for them.
It won’t work. These tactical messages are getting in the way of the larger truth, which the president must hammer home: The Republicans’ austerity and trickle-down economics are dangerous, bald-faced lies.
Yes, the pending spending cuts will hurt. But even if some Americans begin to feel the pain when the cuts go into effect Friday, most won’t feel it for weeks or months, if ever.