“A relentlessly growing deficit of opportunity is a bigger threat to our future than our rapidly shrinking fiscal deficit.” So said President Obama in his recent speech on increasing economic inequality, which he said “challenges the very essence of who we are as a people.”
The New York Times reported this morning (echoing the reporting of Greg Sargent and others earlier this year) that Democrats plan to campaign on raising the minimum wage during the election season. Aside from being good economic policy, raising the minimum wage is quite popular,
Middle-class Blacks are using credit to help cover their basic living expenses, according to a report from the NAACP and public policy research organization Demos. In the recession’s aftermath, 79 percent of middle-class African-American households carry credit card debt.
Voting rights advocates are girding for a series of crucial battles that will play out over the next twelve months in Congress, in the courts, and in state legislatures. Victories could go a long way to reversing the setbacks of the last year. Defeats could help cement a new era in which voting is more difficult, especially for racial minorities, students, and the poor.
Betty McCray, 53, has moved around a bit in her lifetime. She’s worked as a chef, a nursing home attendant and a welder. Throughout, she says proudly, she has “worked union,” even in states with anti-labor right-to-work laws, such as Tennessee, where she moved in 2010 to be closer to her son.
There was little merry or bright this holiday season for millions of unemployed Americans who are losing their extended unemployment benefits.
Many depend on these meager payments, a federal extension of state unemployment programs that expired as of the last Saturday of 2013, to stay afloat. After tapping out their savings, downsizing their living space, and draining their retirement funds, one-time managers and MBA grads bought Christmas gifts secondhand and worry over what the new year will bring. [...]
Millionaires occupy the majority of seats in Congress for the first time since ethics laws mandated personal financial disclosures, according to a new Center for Responsive Politics report.
Out of 534 members of Congress -- there was one vacant seat -- 268 have an average net worth of more than $1 million.
Not only is the U.S. far from achieving a post-racial society, but dog-whistle politics is reinforcing the role of race and contributing to the decline of the middle class as whites vote against their own best interests.
Here’s some welcome news. At his meeting with Democratic Senators last night, President Obama indicated that he is giving serious consideration to executive action designed to raise the minimum wage for employees of federal contractors, according to one Senator who was present.
One day after a top Obama administration official deflected a congressman’s call for executive action to raise labor standards for contractors, activists Wednesday announced the filing of a new Department of Labor complaint over alleged wage theft in a government building. The complaint alleges that dozens of workers in D.C.’s government-owned Union Station are owed over $3 million in back pay and damages for rampant failure to pay minimum wage or overtime.
As the White House prepares to launch a major economic opportunity effort, record high unemployment among black and Latino youth underscores how essential it is to create job opportunities for young people of color.
The critical issue here is that the ages of 16 to 24 are make or break years for lifelong earning potential. With one out four blacks and one out of six Latinos under the age of 25 without work, a generation of youth of color risks falling behind.
Just three days before Kevyn Orr, the emergency manager appointed by Michigan Governor Rick Snyder to run the fiscally strapped city, filed thelargest municipal bankruptcy case in history, he signed a forbearance agreement with UBS and Bank of America/Merrill Lynch establishing a process to settle possible claims on default of $800 million of interest rate swaps.
Some of Dr. Martin Luther King Jr.'s dreams have certainly come true. But when it comes to closing the economic gap between black and white Americans, we've got a long way to go.
If Congress won't raise the federal minimum wage, you can. At least for people who work for companies that get federal contracts, subcontracts and grants.
So says a group of liberals in the House and Senate who want President Obama to sign an executive order requiring federal agencies to give preference in awarding contracts to companies that pay workers no less than $10.10 an hour. [...]
"I really enjoyed my time at Oberlin and I felt like I was learning, but I wasn't progressing towards a job at the end of graduation," said Ned Lindau, a 2011 graduate from Oberlin College in Ohio. He noted that his liberal arts education focused on students exploring subjects that they were interested in learning, not the practicality of a job after college.