Daily Digest - January 23: Politics Broke the Economy

Jan 23, 2015Rachel Goldfarb

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The Politics of Economic Stupidity (Project Syndicate)

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The Politics of Economic Stupidity (Project Syndicate)

Roosevelt Institute Chief Economist Joseph Stiglitz says the economy's "near-global stagnation" is the result of "stupid politics," meaning austerity policies that slow demand.

It's 'Pathetic' What Politicians Have To Do To Stay In Office (HuffPost Live)

Roosevelt Institute Senior Fellow Robert Johnson discusses the State of the Union and campaign financing, noting that fundraising makes our government less healthy.

The Most Dangerous Man In American Politics (Buzzfeed)

Ben Smith says that U.S. Attorney for the Southern District of New York Preet Bharara has proven he's willing to cross not just Wall Street but his own political party in pursuing justice.

The Government Just Took a Step Toward Ending Mass Homelessness (ThinkProgress)

Allowing Fannie Mae and Freddie Mac to contribute to the National Housing Trust Fund could mean a small but steady supply of cash for building affordable housing, reports Bryce Covert.

McDonald's Sued Over Claims Workers Were Fired From Store With 'Too Many Black People' (The Guardian)

Jana Kasperkevic reports on the lawsuit, filed by 10 former McDonald's employees in Virginia, which tries to hold the parent company accountable alongside the franchise owner.

Americans Overwhelmingly Want Paid Sick Time, Even if It Lowers Their Wages (WaPo)

Christopher Ingraham counters the common conservative argument that mandatory sick leave will lead to lower wages with data that shows workers support sick leave anyway.

New on Next New Deal

After Four Decades with Roe, U.S. Women Still Need Abortion Access, and So Much More

Roosevelt Institute Fellow Andrea Flynn and Shulie Eisen look at Kansas as an example of how economic inequality intersects with lack of access to reproductive care to create a crisis for women.

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Daily Digest - January 22: Going Beyond the State of the Union

Jan 22, 2015Rachel Goldfarb

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Obama’s Proposal On Inequality: Is It Enough? (Here & Now)

Roosevelt Institute Chief Economist Joseph Stiglitz speaks to Jeremy Hobson about the State of the Union, emphasizing that the president's proposals don't go far enough.

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Obama’s Proposal On Inequality: Is It Enough? (Here & Now)

Roosevelt Institute Chief Economist Joseph Stiglitz speaks to Jeremy Hobson about the State of the Union, emphasizing that the president's proposals don't go far enough.

Is Net Neutrality the Real Issue? (Marketplace)

Roosevelt Institute Fellow Susan Crawford believes that monopoly control of Internet service providers, and the payments they extract from content providers, could be a larger concern.

Obama Says Family Leave Is an Economic Necessity, Not Just a Women’s Issue (NYT)

Claire Cain Miller praises the president for recognizing that child care and paid family leave should be treated as national economic priorities.

The Grand Old Party … for the Poor? (MSNBC)

Suzy Khimm points out how Republican responses to the State of the Union tried to tie the party to anti-poverty efforts, despite continued support for policies that cut the safety net.

First Thing We Do, Tax All the Banks: Why Obama's Middle-Class Economics Plan Makes Good Sense (The Guardian)

David Dayen says that the president's proposal to tax banks on their liabilities, or what they owe, is a potential first step toward additional financial reform needed post-Dodd-Frank.

New on Next New Deal

Obama’s Middle Class Economics Has to be About Fairness and Prosperity

Roosevelt Institute Senior Fellow Richard Kirsch says the president's speech left out an important story about middle-class economics: these policies are better for the economy than Republican austerity.

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Daily Digest - January 21: State of the Union Asks Congress to Actually Work on Policy

Jan 21, 2015Rachel Goldfarb

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The Problem With Obama's Bold SOTU (MoJo)

David Corn thinks President Obama needs to advance a stronger narrative about the GOP's obstructionism preventing his policy agenda from becoming reality.

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The Problem With Obama's Bold SOTU (MoJo)

David Corn thinks President Obama needs to advance a stronger narrative about the GOP's obstructionism preventing his policy agenda from becoming reality.

In State of the Union Speech, Obama Defiantly Sets an Ambitious Agenda (NYT)

Michael D. Shear and Julie Hirschfeld Davis call the president's tone "defiant" as he called on Republicans to join him in an extensive domestic agenda.

Rebounding Economy Gives President Breathing Room at State of the Union (AJAM)

Naureen Khan says President Obama was able to make his ambitious proposals because the economy is in the best shape it's been in his six years in office.

The Economy Has Improved. The GOP's Talking Points Have Not. (TNR)

The five Republican responses to the State of the Union show that the GOP is still claiming the president's major achievements will crush the economy – but they aren't, writes Danny Vinik.

Toward a New Solidarity (TAP)

Rich Yeselson says that if the "labor question" is to return to the forefront of political thinking, the labor movement's best shot is to fight for all workers, not just its own members.

Debunking the Chatter: The Truth About Wall Street’s Volcker Rule Assault (Medium)

Alexis Goldstein breaks down the Wall Street public relations apparatus's push against the Volcker Rule, pointing out inaccurate data and straight-up falsehoods in their fact sheets.

New on Next New Deal

The 2003 Dividend Tax Cut Did Nothing to Help the Real Economy

Roosevelt Institute Fellow Mike Konczal looks at the data available on the 2003 dividend tax cut, which shows that the corporations affected disgorged more cash to shareholders, but didn't raise wages or investment.

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Daily Digest - January 20: Black and White Americans Are Still a World Apart

Jan 20, 2015Tim Price

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This Is the Key to Recovering Black Wealth in America (The Nation)

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This Is the Key to Recovering Black Wealth in America (The Nation)

Roosevelt Institute Fellow Mike Konczal and Bryce Covert note that housing segregation continues to limit Black economic mobility and contribute to a racist criminal justice system.

Obama's Tax Proposal Is Really About Shaping the Democratic Party After Obama (NYT)

The President's call to raise capital gains taxes while cutting taxes for workers won't get far in a Republican Congress, writes Neil Irwin, but it gives Democrats an organizing vision.

America Just Got Its First Glimpse at Hillarynomics -- Here's What It Looks Like (Vox)

A new report produced by key Clinton insiders emphasizes middle-class growth, writes Matt Yglesias, but sets aside thornier issues like Too Big To Fail or a public option for health care.

The New Compassionate Conservatism and Trickle-Down Economics (Robert Reich)

The 2016 Republican frontrunners may talk a big game about addressing inequality, says Robert Reich, but unless they renounce Reagonomics, their policies will only make it worse.

Democrats Urge Obama to 'Be Bold' on Overtime Pay Expansion (HuffPost)

Lawmakers want the Labor Department to make salaried workers earning less than $69,000 a year eligible for overtime pay, writes Dave Jamieson. The administration is considering a $42,000 threshold.

Community Benefits Agreements Under Attack (Al Jazeera)

An ALEC-backed bill in Michigan would ban government contracts that require businesses to meet community improvement goals in exchange for tax breaks and subsidies, reports Amy B. Dean.

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Daily Digest - January 16: Internet Access is the Next Tennessee Valley Authority

Jan 16, 2015Rachel Goldfarb

There will be no new Daily Digest on Monday, January 19 in observance of Martin Luther King, Jr. Day. The Daily Digest will return on Tuesday, January 20.

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Barack Obama: The FDR of Internet Access? (Moyers & Company)

There will be no new Daily Digest on Monday, January 19 in observance of Martin Luther King, Jr. Day. The Daily Digest will return on Tuesday, January 20.

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Barack Obama: The FDR of Internet Access? (Moyers & Company)

Roosevelt Institute Fellow Susan Crawford compares the president's recent push for fiber-optic Internet access to FDR's work on electricity during the New Deal.

Obama Tells Agencies to Advance Sick Leave For Feds’ New Children (WaPo)

Joe Davidson reports that the sick leave would be paired with paid administrative leave, so that federal employees with a new child could have parental leave as well as sick time to follow.

Trying to Solve the Great Wage Slowdown (NYT)

David Leonhardt looks at a new report that considers what could get wages rising again. It focuses in particular on Canada and Australia, countries similar to the U.S. that have seen wage growth.

How Elizabeth Warren Is Yanking Hillary Clinton to the Left (TIME)

Rana Foroohar says that Senator Warren is already shifting the conversation on economics, citing a new report on wages and the middle class from relatively centrist Larry Summers as proof.

Home Care Workers Denied the Right to Make Minimum Wage and Overtime (ThinkProgress)

Bryce Covert reports on a ruling that has overturned a 2013 Department of Labor rule change on the "companionship exception," which allows home care workers to be paid sub-minimum wages.

New on Next New Deal

A Battle Map for the Republican War Against Dodd-Frank

Roosevelt Institute Fellow Mike Konczal looks at the three fronts in this surprisingly sophisticated GOP war: guerilla deregulation, administrative siege, and reactionary rhetoric.

The Van Hollen Plan Takes on Soaring CEO Pay: A Debate We Need to Have

Roosevelt Institute Fellow Susan Holmberg points out that Rep. Van Hollen's plan has great political messaging around CEO pay, though it doesn't fully close the performance pay loophole.

For Now, Excitement of Free Community College Program Raises Lots of Questions

David Bevevino, a Campus Network alumnus who now researches community college best practices, poses questions about how schools will implement this program, and what extraneous costs it might have.

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Daily Digest - January 15: Free Community College Is "A Better Way" For Financial Aid

Jan 15, 2015Rachel Goldfarb

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The Daily Report (AM950 Radio)

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The Daily Report (AM950 Radio)

Roosevelt Institute Fellow Mike Konczal discusses his recent article about the benefits of the president's free community college plan. Mike's segment begins at 28:00.

How Congress is Crippling Our Tax Collection System, in Charts (WaPo)

Catherine Rampell breaks down a report explaining how cuts to the IRS budget are impacting its ability to actually collect the taxes that are owed, with fewer staff to investigate tax evasion.

Republicans Use 'Death by a Thousand Cuts' Strategy to Deregulate Wall Street (The Guardian)

Republicans in the House have passed their first bill to weaken Dodd-Frank, and David Dayen says there are more to come as the GOP attaches deregulation to all kinds of unrelated must-pass bills.

Obama Stands At Crossroads On Financial Reform (ProPublica)

Jesse Eisinger says that with Republicans in control of Congress, it's time for the Obama administration to go big to protect the modest reforms created by Dodd-Frank.

As Profits Fall, JPMorgan Rejects Calls To Break Up The Megabank (Buzzfeed)

Matthew Zeitlin reports on recent suggestions that JPMorgan could be more profitable if it were split up. CEO Jamie Dimon instead blames regulators for drops in profits.

We Don’t Just Need ‘More Jobs’—We Need Higher Wages (In These Times)

Leo Gerard, President of United Steelworkers, says that the new jobs showing up on the jobs report aren't enough without higher wages for workers whose wages have been nearly stagnant for 35 years.

New on Next New Deal

Is Inequality Killing U.S. Mothers?

Roosevelt Institute Fellow Andrea Flynn ties the United States' embarrassingly high maternal mortality rates to economic inequality's broader impact on health and mortality.

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Daily Digest - January 14: Advice From Mario Cuomo for Today's Democrats

Jan 14, 2015Rachel Goldfarb

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Mario Cuomo, the Speech and the Challenge to Democrats Today (In These Times)

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Mario Cuomo, the Speech and the Challenge to Democrats Today (In These Times)

Roosevelt Institute Senior Fellow Richard Kirsch and Dan Cantor point to Mario Cuomo's vision of mutuality laid out at the 1984 Democratic National Convention as an example today's Democrats should follow.

5 Books: Reading Race and Economics (The Nation)

Joelle Gamble, National Director of the Roosevelt Institute | Campus Network, recommends books on the intersection of race and economics to accompany an article on the economic dimension of #BlackLivesMatter.

Plunge In Wall Street Money Bolsters Populist Shift Among Democrats (HuffPo)

Paul Blumenthal says Wall Street's dramatic shift of campaign resources away from the Democrats isn't the cause of recent populist moves, but less campaign donations creates less industry pressure on the party.

  • Roosevelt Take: Blumenthal links to Roosevelt Institute Senior Fellow Thomas Ferguson's work on where different industries make their political donations; read his most recent paper on that topic here.

Calls for 'A Living Wage' (Times Union)

Matthew Hamilton reports on a Schuyler Center for Analysis and Advocacy forum, "New York's Cities: Confronting Income Inequality," which featured Roosevelt Institute Fellow Mike Konczal.

Labor at a Crossroads: How We Know We Haven't Yet Found the Right Model for the Worker Organizations (TAP)

Sejal Parikh cites the recent closing of hundreds of Wet Seal clothing stores and subsequent brief worker outburst online as proof that with the right organization, these stories wouldn't fizzle out.

How Medicaid for Children Recoups Much of Its Cost in the Long Run (NYT)

Margot Sanger-Katz looks at a new study that shows a correlation between Medicaid eligibility and future earnings. Higher earnings means higher taxes, repaying the investment in childhood health.

Elizabeth Warren Is Taking Control of the Democratic Agenda (TNR)

David Dayen writes that Antonio Weiss's withdrawal from his Treasury nomination is proof that Senator Warren has quickly learned how to exert her power over all aspects of the Senate's work.

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Daily Digest - January 13: A Tax Plan to Fight Inequality

Jan 13, 2015Rachel Goldfarb

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Democrats, in a Stark Shift in Messaging, to Make Big Tax-Break Pitch for Middle Class (WaPo)

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Democrats, in a Stark Shift in Messaging, to Make Big Tax-Break Pitch for Middle Class (WaPo)

Lori Montgomery and Paul Kane explain Rep. Chris Van Hollen's proposal, which is being pitched as the Democrats' "action plan" for fighting income inequality.

  • Roosevelt Take: Roosevelt Institute Chief Economist Joseph Stiglitz also promotes tax reform as a way reach broadly shared prosperity in this white paper.

Congress's Financial Plan for 2015: Curb Your Enthusiasm (The Guardian)

Siri Srinivas looks at the legislation that is likely to reach the House floor in 2015, and explains how Republican control of the Senate will impact this year's agenda.

Elizabeth Warren Wins on Antonio Weiss Nomination (Politico)

Ben White reports that Weiss has asked the president not to resubmit his nomination, instead accepting a position in Treasury that doesn't require Senate confirmation and carries less authority.

  • Roosevelt Take: Roosevelt Institute Senior Fellow Brad Miller argued that Weiss's nomination was indicative of a larger anti-democratic approach to economic policy.

The House Is Set to Pass a GOP Bill Wiping Out Wall Street Reforms (MoJo)

Erika Eichelberger explains how the legislation, expected to pass this week, would weaken key provisions of Dodd-Frank, including delaying the Volcker Rule and weakening transparency rules.

Labor at a Crossroads: Can Broadened Civil Rights Law Offer Workers a True Right to Organize? (TAP)

Richard D. Kahlenberg and Moshe Z. Marvit explain why individual-focused civil rights law can and should be used on behalf of union organizing to promote the collective welfare of all workers.

Investors Shift Bets on Fed Rate Increase (WSJ)

Min Zeng writes that current market patterns indicate that investors think the Federal Reserve is going to hold off on increasing interest rates for longer than was initially planned.

New on Next New Deal

Van Hollen Tax Proposal An Economic and Political Home Run

Roosevelt Institute Senior Fellow Richard Kirsch praises Van Hollen's plan for forcing Republicans to admit that they are supporting Wall Street over working-class families.

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Daily Digest - January 12: Free Community College is Simpler Than Financial Aid

Jan 12, 2015Rachel Goldfarb

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Did Obama Just Introduce a ‘Public Option’ for Higher Education? (The Nation)

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Did Obama Just Introduce a ‘Public Option’ for Higher Education? (The Nation)

Roosevelt Institute Fellow Mike Konczal says free community college for all would be easier to run and more popular than means-tested financial aid models like Pell Grants.

Why Is the Financial Industry So Afraid of This Man? (Salon)

Sean McElwee and Lenore Palladino say blocking Roosevelt Institute Chief Economist Joseph Stiglitz from an advisory panel is just one sign of the financial industry's influence over its regulators.

December Caps Off a Year of Strong Job Growth But Stagnant Wages (Working Economics)

Elise Gould looks at the 2014 data and says that while the numbers are mostly positive, it's concerning that at this rate, we won't reach pre-recession labor market health until August 2017.

There's An Awful Side to the Jobs Report (Business Insider)

Shane Ferro says that while the December jobs report was largely good, the drop in average hourly earnings is a sign of trouble, especially with basically flat wage growth since early 2010.

Kicking Dodd-Frank in the Teeth (NYT)

Gretchen Morgenson breaks down the details of a Republican bill that claims to make "technical corrections" to Dodd-Frank, but would actually seriously weaken financial reform.

As White House Defends Unions, States Go on the Attack (AJAM)

Republican midterm victories at the state level will mean more anti-union "right to work" laws and other policies that weaken the labor movement, writes Ned Resnikoff.

New on Next New Deal

Can Community College Systems and Infrastructure Handle Free Tuition?

Rachel Kanakaole, New Chapters Coordinator for the Western Region of the Campus Network, questions whether community colleges can handle the increased enrollment that will come with free tuition.

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Daily Digest - January 9: Charity and Government Are Not Interchangeable

Jan 9, 2015Rachel Goldfarb

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Mike Konczal and David Beito Debate Charity vs. Government (Stossel)

Roosevelt Institute Fellow Mike Konczal counters right-wing arguments that charity can take the place of government in protecting social welfare.

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Mike Konczal and David Beito Debate Charity vs. Government (Stossel)

Roosevelt Institute Fellow Mike Konczal counters right-wing arguments that charity can take the place of government in protecting social welfare.

  • Roosevelt Take: Mike explained his argument on the "voluntarism fantasy" in greater depth in Democracy last year.

Europe’s Lapse of Reason (Project Syndicate)

Roosevelt Institute Chief Economist Joseph Stiglitz says that even as Europeans elect new leaders in their countries, their governments continue on a failed path of austerity, which must change.

House Democrats Swiftly Kill a Quiet Republican Plot to Protect Wall Street (The Guardian)

David Dayen says the work to stop this Republican anti-financial reform bill package demonstrates the Democratic strategy of making these economic fights very public.

Obama Plan Would Help Many Go to Community College Free (NYT)

The president's proposal would cover tuition for full- and half-time students who maintain a 2.5 GPA, report Julie Hirschfeld Davis and Tamar Lewin. It's a hard sell with a Republican Congress.

This Boehner/McConnell Obamacare 'Fix' Could Hurt Millions of Americans (LA Times)

Michael Hiltzik says readers shouldn't believe a GOP-authored op-ed's claims about changing the definition of full-time work under Obamacare. It's really a handout to employers.

America’s Workplaces Are Hostile to Families (The Nation)

Michelle Chen explores the ways that American employers make it difficult for workers to have children, as well as policy proposals that could fill the gaps.

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