In yet another push to define the Democrats as defenders of the middle class, a top economic adviser for the Obama administration outlined Thursday the massive growth in income inequality and its ramifications on the nation. Alan Krueger, chairman of the president's Council of Economic Advisers, said that inequality is now causing an unhealthy division in opportunities and is posing a threat to economic growth. Economic mobility has decreased and the middle class has shrunk.
For parents with college-bound kids, it seems like a no-win situation. Your child is eyeing the grassy quads and Gothic dorms of Dream U., while you're staring down at a too-small 401(k), a shaky job market, and a house worth a lot less than a few years ago.
Last month, the Center for American Progress highlighted the stark and disproportionate impact of the ongoing jobs crisis on people of color, with unemployment among blacks reaching more than 16%, compared with more than 11% for Latinos and more than 8% for whites.
Every politician running for election to Congress professes to worry deeply about the country's debt situation, but no one is specific about what he would do, save for rhetoric like "cut spending" or "raise taxes."
Office of Management and Budget Director Peter Orszag will announce Tuesday morning that the Obama administration is directing agencies to cut at least 5 percent from their budgets. This comes in addition to the president's pledge to freeze spending at most agencies over the next three years.
Legalization of the more than 11 million unauthorized immigrants in the United States would raise wages, increase consumption, create jobs and generate more tax revenue, two policy institutes say in a joint report Thursday.
At least 13 suspected militants were killed in a tribal region of Pakistan near the Afghan border Wednesday, apparently by missiles fired from unmanned U.S. aircraft, two Pakistani intelligence sources told CNN.
A useful principle of political analysis is to be suspicious when everyone agrees. Which is why the bipartisan paeans to "prevention" in this summer's health care debate have me scratching my head. It's the one reform on which Henry Waxman and John Boehner can join hands. Don't get me wrong: officials are right to say our system is crazily tilted toward paying docs and hospitals for curing people only after they've gotten terribly sick. But when they jump from this to the idea that America's overdue prevention agenda will be the fix for soaring national health costs (and even help pay for expanded coverage), they're blowing smoke.
U.S. political, business and environmental leaders urged the nation Monday to act quickly to build a unified, national electricity grid, both to diminish the impact of global warming and to boost the economy.
A ridiculous amount of time and energy has already gone into picking the next President, which would lead you to suppose the matter is of some consequence. Of course the person who serves as leader of the Free World matters (ask anyone in Baghdad), but over the long sweep of history it counts for less than we may think.
The boiling debate over the economics of immigration may give you an eerie sense of déjà vu, and no wonder: Its superheated rhetoric recalls the polarized and exaggerated arguments over open trade and globalization in the 1990s.
A new Gallup poll out this morning shows Americans' approval of President Bush's handling of a wide range of issues at the lowest point of his presidency. But that's not enough to break the deadlock in the presidential race.