Purely from a policy standpoint, today was a terrible day to be "against" Medicaid. For the first time, reported The New York Times, a large-scale study of the impact of Medicaid found that
When poor people are given medical insurance, they not only find regular doctors and see doctors more often but they also feel better, are less depressed and are better able to maintain financial stability. . . .
Thank you Scott Walker for the reminder that when it rains, it pours. The Journal Times of Wisconsin reported a few weeks ago that, just as the Governor's collective bargaining changes became law, some Wisconsin inmates were given "the opportunity to help Wisconsin by landscaping, painting, and shoveling sidewalks in the winter." But these opportunities are really nothing more then the carnivorous result of union-busting: pitting at-risk populations against middle class union employees.
After the sudden demise of the News of the World today, tabloid editors will surely think twice before drawing on illegally obtained information. But other unethical practices – used by a range of print, broadcast, and online media businesses – will continue, like paying sources for dubious information (“cash for trash”) or fabricating juicy stories outright to boost circulation or ratings.
With a proposal over future fuel economy standards expected in September, it’s shaping up to be a long summer of wrangling between the Obama Administration and the auto industry over the specifics. While negotiations proceed, the fate of the American car industry may hang in the balance.
One of the more bizarre features of political life over the past two years has been the sense on Wall Street that it has been unfairly demonized in the wake of the financial crash. Top bankers have famously soured on President Obama because of his occasional criticisms of Wall Street -- despite the Administration's record of going easy on an arrogant financial elite who blew up the economy.
In an online article for The New Republic, Michael Kazin unintentionally reveals why Pat Buchanan is probably right about the debt ceiling negotiations. For the last two days, Buchanan has argued on Morning Joe that “President Obama will fold,” settling for a short-term extension and giving Republicans another victory. He bases this view on the belief that Republicans have the upper hand politically, but his evidence is mainly speculative.
It is no secret that government regulators often mete no more than a slap on the wrist for corporate wrongdoers guilty of serious crimes. As I have written here and elsewhere, federal authorities routinely reach settlements in which corporations do not actually acknowledge doing anything wrong and agree to financial penalties.
Looking at the corporate misconduct that led to last year’s terrible mining disaster in West Virginia, a few words spring to mind. And while "repugnant" might be an understatement, at least it’s printable.
Republican lawmakers in Minnesota have forced a government shutdown in that state by refusing to agree to any revenue increases at all to help close the state's $5 billion budget deficit. Governor Mark Dayton, in contrast, has offered a mix of steep spending cuts and a modest tax hike on high earners.
The historic financial reform law that President Barack Obama signed last July is more akin to an outline than a detailed regulatory mandate. It will only have teeth when numerous rules are written and oversight mechanisms are put into place. Getting the money for this work wouldn’t have been a problem if Democrats still controlled the House--but they don’t anymore.
Since we checked in last week, the Presidential candidates have solidified their support considerably for Rep. Jim DeMint's "Cut, Cap and Balance," a pledge to oppose raising the debt ceiling in the absence of fairly draconian spending cuts and a balanced budget amendment. The pledge also includes a mandate for a supermajority in both chambers for raising taxes, effectively making such actions impossible.
Insurers justify the use of credit screening for insurance purposes by pointing to internal industry data showing that, on average, people with lower scores are more likely to make an insurance claim. The problem is, they don’t have a convincing explanation for why people with poor credit tend to make more claims.
The shale gas industry has been booming in recent years, not only fueling growth in stated U.S. gas reserves, but also controversy over its environmental impact. Although high-volume fracking combined with horizontal drilling has allowed producers to get at hard-to-extract shale gas, many argue that the technique’s impact on the environment requires further study. Despite the environmental controversy, the industry still has plenty of supporters.
Preet Bharara, the U.S. Attorney prosecuting the insider trader cases, is quoted in a recent New Yorker article as saying that a lack of manpower was the reason that authorities hadn't prosecuted more people involved in the financial crisis: "If the well is dry," he said, "a thousand more people aren't going to get you water in that well."
When Joseph Stiglitz and Linda Bilmes published a book entitled The$3 Trillion War, they were criticized by some academics and reviewers for inflating the costs of the Iraq war. Well, now it appears that the authors' figures may have been too low.
Representative Sandy Levin is one of the top Democrats in Congress when it comes to trade issues and given that he represents Michigan -- where the economy has been battered by globalization -- it is no surprise that he has long taken a critical stance on free trade agreements. But Levin is not entirely hostile to such pacts.
According to a recent Pew poll, evangelical Christians believe they're losing influence in the United States. That's far from clear; From 2004 to 2008, the evangelical share of the vote in the Presidential election increased, from 20 percent to 23 percent.
I have been predicting for the past few months that as part of a bipartisan budget deal Republicans will agree to raise revenues by reducing tax breaks and then cloak this retreat in high-minded rhetoric about "tax reform."
One longtime liberal voice in Albany, former Assemblyman Richard Brodsky of Westchester, takes a severe view of Cuomo's first months. He thinks Cuomo, who says he hasn't shut the door on running for president in 2016, is playing two sides in the political game.