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The bill for decades of Detroit's financial decline has now come due. A federal judge's ruling approving the largest municipal bankruptcy in U.S. history Tuesday sets the stage for an epic legal battle over who will be asked to help pick up the tab, including bond investors, retired city workers

Last I checked, populism was the strongest force in American politics today, so it was odd to read an op-ed by Third Way leaders Jon Cowan and Jim Kessler arguing that populism is a sure loser for Democrats. Odder still was the fact that Cowan and Kessler never even manage a nod to populism's

Today, bankruptcy judge Steven Rhodes ruled that the criteria for the bankruptcy proceeding for the City of Detroit have been met and the legal proceedings will go forward immediately. While at the same time disappointing and expected, there are some important elements in the ruling that could shape

Next November, Californians will decide whether to raise the state's minimum wage to $12 an hour -- which would be the highest level of any state and not so far from the $15 an hour goal often mentioned by labor activists.

Contact: Lisa Gilbert, Public Citizen, 202-454-5188

In fact, the Volcker rule is already federal law, passed as part of the massive financial sector overall bill known as the Dodd-Frank Act, signed in 2010. But since that time, five separate regulatory agencies, including those that focus on the markets and others on the banks, have been working to

Tens of thousands of Detroiters are waiting anxiously for 10 a.m. Tuesday. That’s when they’ll hear from Judge Stephen Rhodes whether the city is eligible for bankruptcy protection, a decision that could affect pensions, city services and healthcare for residents. Detroit filed for bankruptcy

The left has gotten its mojo back in recent years, rediscovering its populist roots to take on Wall Street and -- through a revived labor movement and other attacks on inequality -- returning to its central project of creating a just economy. But something is still missing from the progressive pitch

In 2012, Walmart banked $22.1 billion in profit and paid $5.3 billion in federal taxes. But if it had increased wages for its workers from $7.25 (the current minimum wage) to $12.50, it would have simply deducted the expense from its taxable income and would likely have passed along the increase to

In today’s New York Times, Paul Krugman takes on the plight of low-wage retail and fast food workers, who have seen their real wages fall almost 30 percent since 1973 even as this sector has become a larger part of our economy. During a season when Americans flood the stores for holiday shopping