Relevant and even prescient commentary on news, politics and the economy.

US already has high elder poverty rate, so why are Social Security cuts even on the table?

In the recent debate over the so-called “fiscal cliff,” President Obama was reportedly at one point offering to raise the eligibility age for Medicare from 65 to 67 and Social Security. However, in view of the coming retirement crisis due to the decline in defined benefit plans guaranteeing a specific retirement income, this is a […]

The "Fiscal Cliff" and the Coming Retirement Crisis of the Middle Class

On January 1, Congress approved a tax and spending bill to avert the so-called “fiscal cliff” combination of tax hikes and spending cuts that would have created deflationary pressure on the United States (though Yglesias questioned the conventional wisdom of whether it would necessarily cause a recession). Let’s take a look at the deal in […]

Conservative ALEC Economic Policies Have No Benefit, Some Risks, for States

The economic policies proposed for states by the conservative American Legislative Council Exchange (ALEC) not only don’t work, but carry risks for states’ economies, according to new research by the Iowa Policy Project and Good Jobs First. As we have seen most recently with Michigan’s passage of anti-union so-called “right to work” legislation (which lets […]

NYT Series Illuminates – And Confuses – State of the Subsidy Wars

Louise Story’s series in the New York Times this week has created a substantial buzz about the issue of economic development subsidies.This is a welcome development, because it’s an issue that doesn’t get nearly enough attention in the highest profile media. Story has, in addition, appeared on shows such as MSNBC’s “Morning Joe” and NPR’s […]