An Economy for All

Governing on Empty

The Senate, having struck its compromise, has gone home. The House, controlled by delusional Republicans, has gone home. Payroll taxes are slated to rise, and unemployment insurance is set to expire before they return in January. The compromise wasn’t just between the two parties in the Senate, apparently. According to Wednesday’s Washington Post, House Speaker John Boehner and House Majority Leader Eric Cantor met with Senate GOP leader Mitch McConnell on Friday and told him they’d get the votes to pass the two-month extension deal he’d worked out with Harry Reid. But Boehner, who is turning out to be the weakest speaker since the House was first gaveled to order in 1789, couldn’t hold his troops, whose caucus meetings, by numerous accounts, increasingly resemble the pep rallies of cults that have lost all feel for how other humans think.

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A Growing Problem for All Families: Student Loan Debt

As a low-income and first-generation college student in my family, the subject of student loans has been a matter of acute concern to me. High school counselors constantly told me that student loans are “good debt.” This type of information made it justifiable for peers in similar socioeconomic situations to borrow federal and private loans. But lenders take advantage of first-time borrowers by failing to explain in full detail future payment plans, which may cause individuals to be fiscally unprepared for post-graduate life. Current student debt trends must be fixed in order to stop setting up graduates for a lifetime of financial struggles. While the nation engages in debate about the country’s financial future, the topic of student debt must be recognized as an important issue and for its potentially crippling impact on the lives of young college graduates and as an effect of the strength of our economic recovery.

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The Foreclosure Fraud Machine

For the past few days, our blog team has been chronicling the implications of a fraud machine run by some of the nation's largest financial institutions. The same machine that peddled the predatory loans that helped create the Wall Street financial crisis is now mass-producing the legally dubious paperwork that seeks to put thousands of people out of their homes.

Read our reports and analysis »

The GOP Payroll Tax Plan Does So Stink

No doubt Republicans know the fight over extending the payroll tax is one they could lose. Thus, they've pivoted away from opposing the extension, and have presented a plan of their own — one that Timothy Noah says the Democrats should be willing to work with because it "doesn't stink."

Well, in my experience, just because you can't smell something doesn't mean it doesn't sink. Some things "pass the smell test" because of a faulty sniffer; not because they don't stink. And the GOP's payroll tax plan does so stink.

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Campaign Cash: Who's Selling Our Democracy Out From Under Us

With the help of members of the Media Consortium, Zach Carter has chronicled some of the most outrageous examples of corporate America literally buying our democracy, exploiting legitimate populist concerns about the economy to advance an agenda that will only benefit the wealthy few at the expense of the rest of us. What impact did the Supreme Court's Citizens United really have in the 2010 election?
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Never Mind Super PACs: How Big Business Is Buying the Election

On January 27, 2010, one year into his term, President Barack Obama used the occasion of his State of the Union address to issue a warning. The Supreme Court had just opened the “floodgates for special interests—including foreign corporations—to spend without limit in our elections.” He was speaking about the ruling in Citizens United v. Federal Election Commission, in which the Court struck down nearly a century of law, granting corporations vast new leeway to influence the outcome of elections.   In the months after Obama’s speech, the American Petroleum Institute, an oil industry trade association that represents hundreds of multinational oil and gas companies, would demonstrate just how prescient the president’s warning was.

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Pay Teachers More

From the debates in Wisconsin and elsewhere about public sector unions, you might get the impression that we’re going bust because teachers are overpaid. That’s a pernicious fallacy. A basic educational challenge is not that teachers are raking it in, but that they are underpaid. If we want to compete with other countries, and chip away at poverty across America, then we need to pay teachers more so as to attract better people into the profession.

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The Return of Sanity

The common thread in yesterday’s unbroken string of Democratic and progressive victories was the popular rejection of right-wing overreach. The series of elections held across the country yesterday weren’t supposed to yield a coherent narrative. Yet a common theme emerged: Radical-right Republicans hit a wall last night all over the country, even on a conservative social issue in what may be the most socially conservative state in the nation. So can Democrats take some hope from last night’s results? Provisionally; sort of. If Barack Obama can make next year’s election a choice between his ineffectual moderation and the Republicans’ wacked-out lunacy, the Democrats should do well. If next year’s election is a referendum on his stewardship of the economy the Democrats will likely get clobbered. It’s clear that Americans have had it with Republican extremism. Whether that will be a decisive issue in 2012 is not yet apparent.

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The Conservative Pledge to Rob the Middle Class

Congressional Republicans have released their "Pledge to America," but it is a threat to Americans struggling in today's economy. This slate of proposals will slash needed spending, kill jobs, declare open season on the public's health and safety, and end any hope of growing the economy. Read Richard Eskow's analysis »

Getting the Message Right on the Economy

While the public is profoundly disenchanted with the state of the economy and have soured on conservative economic policies, progressives still have the challenge of coming up with the right message that convinces voters that progressive solutions are better. more »