With America on the verge of defaulting on its debts, Senator leaders are reportedly near a deal. It ends the Tea Party's hostage crisis, but schedules the next one only three months from now.
When Washington went to the beach, progressives opposed to the Summers nomination organized. What is clear now is that the Democratic wing of the Democratic Party is willing and able to challenge its Wall Street wing.
Republicans are gearing up once more to hold the nation hostage over the budget. As the melodrama and posturing rev up, here is a common-sense field guide for the self-inflicted crisis.
Instead of continuing its failed austerity-lite policies, Congress should be moving to a jobs agenda, making the investments that will help put people back to work.
The “boys club” that dominates Obama administration economic policy is all in for Larry Summers. The divide between Summers' critics and the insiders dramatizes the looking-glass world that is today’s Washington.
Most babies born in the U.S. today are of color. In three decades, more than half of our population will be people of color. Yet, even as diversity is our future, growing racial disparity is our reality. People of color are disproportionately poor.
The chattering classes are fascinated by the Republicans’ internecine battle to redefine the party in the wake of the George W. Bush calamity and the Mitt Romney defeat.
The Bureau of Labor Statistics reports a net gain of 162,000 jobs for July, somewhat below the slow growth we’ve witnessed over the past months. The decline of the official […]
In a speech delivered at Knox College in Illinois, President Obama launched his final campaign: a campaign to revive the American Dream. The speech, less eloquent and windier than the best […]
Today President Obama will travel to Illinois to turn attention back to jobs and the economy. He does so amid an economy that is still in trouble. Mass unemployment continues […]
Reports are that a student loan deal is in the works, with a vote as early as today. If consummated, it will have bipartisan support in the Senate and the […]
In his congressional testimony yesterday, Federal Reserve Chair Ben Bernanke called out the Congress, telling them to stop the reckless and mindless spending cuts that are killing jobs and growth. […]
Conservative Republicans have turned the farm bill – normally a bipartisan grotesquerie of agribusiness subsidies and excess – from legislation to identity politics. They wanted to make a statement, even […]
This month’s lackluster jobs report – 195,000 net jobs created in the month of June with the unemployment rate unchanged at 7.6 percent – leaves Americans adrift. More than 22 […]
Interest rates on student loans will double to 6.8 percent on July 1 unless Congress acts. But it seems increasingly likely that the Congress will take off for the Fourth […]
Can the economy recover if workers don’t? Federal Reserve Chair Ben Bernanke yesterday suggested as much, but investors were clearly skittish. Bernanke announced that while the Fed would continue its […]
The May jobs numbers – with a net growth of 175,000 jobs – shows an economy that is treading water. There is no change in the unemployment rate or number […]
The U.S. Congress votes readily to subsidize the big banks to our peril. The Congress lavishes subsidies to Big Oil to our shame. Congress allows Big Pharma to help health […]
Democrats now delight in watching Republicans flounder as they try to free themselves from the failures of President George W. Bush and the extremes of the Tea Party. But the […]
On Tuesday, a "sinkhole" suddenly sank in Washington D.C. three blocks from the White House. Not a metaphor, but a massive hole in the road as "long as a Ford Explorer," double the width of a train car and 17 feet deep.
Thursday on Bloomberg Television, Robert Borosage made the case for Sen. Elizabeth Warren’s Bank On Student Loan Fairness Act, which would set student loan interest rates at the same rate […]
On July 1, interest rates on student loans will double. While the Big Banks enjoy rates of almost zero, students will pay 6.8%! Sen. Elizabeth Warren has introduced the Student Loan Fairness Act.Enter
The Senate campaign in Massachusetts will be close and hard fought. Ed Markey, the winner of the Democratic primary, knows he has to run a bare-knuckled, knock down, full bore […]
This week, President Obama will travel to Austin, Texas to call for action on jobs. The proposals the president put forth in his State of the Union address – investing […]
Democrats are enjoying the spectacle of Republican disarray. All of Washington is sinking in popularity, but Republicans rank lowest in public esteem. The old wedge issues – guns, gays, racial division, the war on women – now bolster Democrats.
The April jobs report of the Bureau of Labor Services is sobering. The mediocre jobs number — 165,000 new jobs or barely enough to cover new entrants into workforce — […]
“Spending cuts hold back US growth,” warns an across the page headline of the conservative Financial Times. No surprise there. Americans are in trouble. Wages are losing ground. Over 20 […]
The President's budget is less a blueprint for government than a statement of purpose from the administration. In this divided government, it is already “dead on arrival.” For all of its volumes and detail, it is at best a list of priorities. And there it is distinctively disappointing.
Dismal jobs production in March – only 88,000 net jobs created, not sufficient even to cover people coming into the workforce – is a wake-up call to Washington. The weak […]
The “rising American electorate” is the name given to the core of the Obama electoral majority of the young, single women, and minorities. Democratic pundits suggest that this coalition essentially […]
The International Federation of Health Plans has depicted our ridiculous health care system in 21 graphs. We don’t get more health care; we just pay more — much more. And […]
Washington has been fascinated by Republican self-laceration since the 2012 election. Karl Rove triggered a circular firing squad by vowing to take out unwashed challengers in GOP primaries. Louisiana Governor […]
As early as today, the members of the House of Representatives will choose. At a time of mass unemployment and slow growth, they will vote for more austerity or for […]
Budgets are pure EGO – eyes glaze over. But this week revealed two budgets – Rep. Paul Ryan’s Republican “Path to Prosperity” 2014 budget and the Congressional Progressive Caucus “Back […]
On Tuesday, March 12, the Senate Banking Committee will begin review of the nomination of Mary Jo White to be chair of the Securities and Exchange Committee. The Committee should […]
Today’s employment report from the Bureau of Labor Statistics – an additional 236,000 jobs in February with unemployment edging down to 7.7 percent – reveals an economy that keeps chugging […]
For years, the Obama Administration has been pummeled for failing to bring criminal charges against a single major Wall Street bank or a single leading Wall Street banker for what […]
Today, Senator Tom Harkin and Representative George Miller offer a ray of light amid the austerity blight in Washington. They are announcing introduction of a bill – the Fair Minimum […]
Someone asked the Master about the principles of … traveling into the vast inane. – From the Bao Pu Zi, AD 320, Joseph Needham, Science and Civilization in China Welcome […]