Three and a half years have passed since the afternoon when the stock markets went into a trillion-dollar free fall and just as suddenly reversed course, recovering 80 percent of that loss. It all happened in less than 45 minutes.
President Obama showed real spine in standing up to Tea Party hostage takers. Now he needs to draw on the same grit in the budget negotiations set to begin immediately as part of the deal to reopen the government and raise the debt ceiling.
Remember the days when conservatives deployed an endless series of wedge issues to splinter the Democratic coalition -- peeling white moderate voters off from liberals? Well, now the shoe's on the other foot.
The brewing civil war in the GOP between Tea Party extremists and more normal conservatives hit a boiling point over the past few weeks. But President Obama is poised to keep things boiling by pushing immigration reform to the top of Washington's agenda.
Suppose we think income redistribution is a good idea -- given near-record corporate profits at a time when wages for most workers are stagnant. There are two main ways to achieve this goal: We could make business pick up the tab directly by raising the minimum wage, making it easier for workers to form unions, and mandating more employee benefits, such as paid vacation time. Or, we could leave business alone, but give poorly paid workers public benefits like tax refunds, free health insurance, food assistance, and so on.
In 2005, Indiana passed a law requiring voters to present a government issued photo-ID before they would be allowed to vote. The law was challenged by voting rights advocates and was upheld by the Appellate Court and ultimately, the Supreme Court. The Appellate Court concluded that the burden placed on potential voters to show a photo-ID was outweighed by the state’s interest in reducing voter fraud.
A growing number of experts are arguing that the era of fast economic growth is over, at least for wealthy countries like the United States. If that's true, what does it mean for progressive politics?
I'll get to that question in a minute. But first consider the recent obituary for prosperity that Stephen King published in the New York Times, excerpting his new book, When the Money Runs Out: The End of Western Affluence.
Dunkin Donuts is getting a sweet deal. The company enjoyed $108.3 million in profits last year and compensated its CEO, Nigel Travis, to the tune of $1.9 million. Meanwhile, the public paid an estimated $274 million to feed, provide medical care, and subsidize the wages of their workforce.
Assuming some short-term deal emerges in Washington to avert a default, pending later budget talks, we all know what comes next: Another dead-end debate over taxes.
Why? Because if there's one issue that conservatives in Congress are even more implacable about than Obamacare it's taxes -- as in, no new taxes, ever.
Don't use that post-surgery fog as an excuse to ignore medical bills, even if you're still contesting them with your doctor or health insurer. Otherwise, your credit score will need to heal, too.
Medical debt is the most common type of collection account, representing nearly half of all reported collections. Almost 1 in 6 credit reports contain a medical debt collection, according to the Federal Reserve. And about 2 in 5 Americans reported a lower credit rating last year due to unpaid medical bills.
If you think that only banks and other traditional lenders get to gouge consumers with high interest rate loans, you're obviously behind on the evolution of American finance.
These days, just about any service provider can offer loans with what used to be criminally high interest rates. And that includes doctors and dentists, as the New York Times reports today.
The political crisis in Washington is becoming an international embarrassment for the United States, with the head of the IMF now reprimanding us for threatening global chaos. But the crisis is also becoming a big opportunity for China, America's main rival for primacy in the 21st century.
At a small gathering in Los Angeles recently, Miles Rapoport, president of the 13-year-old progressive think tank Demos, expressed optimism about the future for progressive values and policies.
Miles's talk was inspiring, but I asked him to elaborate by answering questions from a skeptic's point of view. Following is Part 2 of our dialogue. (Here is Part 1.)
If you believe a statement from Koch Industries, the Koch brothers never supported the effort to defund Obamacare by holding government operations and the debt ceiling hostage.
sent a letter to the Senate stating that they did not support the effort led by Heritage Action to force the partial closing of federal government as a way to eliminate funding for the health care program.
As the government shutdown continues well into the second week and we rapidly approach our debt ceiling, it’s hard not be cynical about the political process and our government, generally. After all, Congressmen are still getting paid while thousands of government employees are not. And, it’s not just government employees.
The debate over America’s federal budget is getting stale — and getting us nowhere, as the latest government shutdown depressingly reminds us. Political obsession over budget deficits has now morphed into legislative extortion.
The closer you look at the crisis in Washington, the more you can see how it's yet another story about money in politics. It's not just that congressional Republicans are running scared before big conservative donors who threaten to finance primary challenges, as I have written here and here.