Tim Price

Deputy Editor

Recent Posts by Tim Price

  • Daily Digest - April 8: Draining the Secretarial Pool

    Apr 8, 2013Tim Price

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    How much money do you make? (WaPo)

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    How much money do you make? (WaPo)

    Roosevelt Institute Fellow Mike Konczal examines a question that complicates income inequality -- partly because no one wants to answer it, but also because when liberals and conservatives are asked to show their work, they don't even agree on the math.

    Where Have All the Secretaries Gone? (Businessweek)

    Sheelah Kolhatkar notes that Mad Men's return highlights changes in the workplace. Fewer bosses are getting soused in the middle of the day, and their assistants are disappearing entirely. Research by Mike Konczal and Bryce Covert explains the latter.

    The Promise of Abenomics (Project Syndicate)

    Roosevelt Institute Chief Economist Joseph Stiglitz argues that Japanese PM Shinzo Abe's "three arrows" of economics, focused on monetary policy, fiscal stimulus, and growth, will get better results than U.S. and European policymakers' empty quivers.

    Destroying the Economy and the Democrats (Prospect)

    Robert Kuttner writes that while there was probably no good time for President Obama to leak that he was putting Social Security and Medicare on the chopping block, the week we found out the economy added just 88,000 jobs in March definitely wasn't it.

    Insurance and Freedom (NYT)

    Paul Krugman notes that since "Poor people: gross!" is no longer a winning message for opponents of the safety net, the Republicans blocking Medicaid expansion are framing it as a blow to the soul-crushing tyranny of insurance and affordable health care.

    This Week in Poverty: Sequestration, Housing, Homelessness (The Nation)

    Greg Kaufmann writes that sequestration is anything but abstract for the 140,000 low-income families who will have their housing vouchers cut off, which should generate at least 3 percent as much outrage as the canceled tours of the president's house.

    Debtors' prisons are back: how heart-warmingly Dickensian! (Washington Monthly)

    Kathleen Geier highlights a report from Ohio's ACLU on the state's new debtors' prisons and the various ways in which they violate local law, constitutional law, and plain old standards of human decency, all for the chance to claim that glorious $300 bounty.

    The Fries-With-That Economy (NYT)

    Catherine Rampell notes that employment in food services and drinking places accounted for one in 13 American jobs in March, with an average hourly wage of $11.98. And the more this news spreads, the more popular those "drinking places" get.

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  • Daily Digest - April 5: Obama Cuts to the Chase

    Apr 5, 2013Tim Price

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    Obama Budget Reviving Offer of Compromise With Cuts (NYT)

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    Obama Budget Reviving Offer of Compromise With Cuts (NYT)

    Jackie Calmes reports that the president plans to reissue his final offer to John Boehner from last year's deficit negotiations, including chained CPI and cuts to Medicare, though the GOP is still giving increased tax revenue the full Green Eggs and Ham treatment.

    Abolish the 401(k) (Salon)

    Michael Lind writes that Social Security was never meant to be the sole source of retirement income, as its critics love to point out, but that means we should be focused on expanding the one program that works, not breaking it so it matches all the other options.

    The Urge to Purge (NYT)

    Paul Krugman notes that Mellonites who saw the Great Depression as a necessary corrective, like medieval bloodletting, were once thought thoroughly discredited, but conservative commentators have rescued that philosophy from the garbage disposal of history.

    The New Telecom Oligarchs (The Nation)

    Michael J. Copps writes that Roosevelt Institute Fellow Susan Crawford's Captive Audience offers insightful analysis of a trend that plagued him as FCC commissioner: the Katamari Damacy-like growth of merger-happy telecom giants that roll right over their customers.

    Cancer clinics are turning away thousands of Medicare patients. Blame the sequester. (WaPo)

    Sarah Kliff reports that cancer clinics are turning away patients whose chemotherapy has become too costly due to the sequester's Medicare cuts. But remember: Barack Obama was exaggerating about the sequester, just like Al Gore is a liar every time it snows.

    The McJobs Strike Back: Will Fast-Food Workers Ever Get a Living Wage? (The Atlantic)

    Sarah Jaffe looks at the second strike to hit New York's fast food industry in the last six months as workers build on the momentum of recent victories on the minimum wage and paid sick days. If they keep it up, they might even be able to afford to live in their own city.

    Young Adults Make Up Nearly Half of America's Unemployed Workforce (Think Progress)

    Travis Waldron highlights a new Demos report that finds 10.3 million Americans ages 18 to 34 are either out of work or underemployed, with minority youths and those without a college degree hit especially hard. Stay in school, kids. Forever, if at all possible.

    Wages of young college graduates have failed to grow over the last decade (EPI)

    Heidi Shierholz reports that instead of increasing by more than 19 percent like they did from 1995 to 2000, wages for young college grads did that other thing where they shrank by 7.6 percent between 2007 and 2012. Sorry about your future, class of 2013.

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  • Daily Digest - April 4: Undercooked Regulation is Hazardous to Our Economy

    Apr 4, 2013Tim Price

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    Bankers' Court Wins Could Come Back to Haunt Them (Bloomberg)

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    Bankers' Court Wins Could Come Back to Haunt Them (Bloomberg)

    Roosevelt Institute Fellow Mike Konczal argues banks have figured out they don't need Congress if they can get judges to rewrite or throw out reform -- but even for Wall Street, there are some downsides to undermining the whole concept of the rule of law.

    Democrats Are Undermining Wall Street Reform, Too (MoJo)

    Erika Eichelberger notes that a bipartisan group of House lawmakers is pushing bills that would roll back various parts of Dodd-Frank, but as Mike Konczal tells her, it's probably best if we at least let this cake finish baking before we start changing the recipe.

    Fast food workers plan surprise strike (Salon)

    Josh Eidelson reports that workers in 50 New York City fast food restaurants are striking to demand higher wages and their right to organize. Americans may be able to live with poor treatment of low-wage workers, but how long can we live without hash browns?

    The case for expanding Social Security, not cutting it (WaPo)

    Brad Plumer flags a report from the New America Foundation that argues Social Security should be made bigger and better with a Part B that provides a flat $11,699 a year on top of retirees' regular benefits. Not to be confused with plan B, which is to never retire.

    Does Congress have the heart to avert disability crisis? (LA Times)

    Michael Hiltzik notes that the trust fund for Social Security's disability insurance could run out by 2016, forcing a 20 percent benefit cut. Sadly, even mainstream media outlets are pushing the idea that "disabled" is a euphemism for "disinterested in working."

    Fannie and Freddie Are Stronger Than Ever (TNR)

    David Dayen writes that while the GSEs rank below financial disclosure on politicians' list of favorite things, they're currently the only name in the game in the secondary mortgage market -- at least until private players think up some new ways to rig it.

    Blame Abounds Over a Failed Foreclosure Review (NYT)

    Ben Protess and Jessica Silver-Greenberg report that regulators and consultants for the Federal Reserve and the Office of the Comptroller of the Currency are under fire for botching the foreclosure review, which turned out so poorly it now requires its own review.

    Why Risk Managers Should Be Spymasters (ProPublica)

    Jesse Eisinger talks to a former Wall Street risk manager who explains why an elegant math formula is no substitute for flesh and blood people who can recognize when risk models and realities like the London Whale are divorced due to irreconcilable differences.

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  • Daily Digest - April 3: The Sick and the Sequestered

    Apr 3, 2013Tim Price

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    Lack of paid sick leave is unhealthy for America (WaPo)

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    Lack of paid sick leave is unhealthy for America (WaPo)

    Katrina vanden Heuvel writes that after the success of local paid sick leave laws that have shown it's easier to keep one's business healthy when one's employees aren't forced to shuffle through the office with walking pneumonia, national standards could follow.

    Sequestration Effects: Cuts Sting Communities Nationwide (HuffPo)

    Sam Stein and Amanda Terkel note that the conventional wisdom is that sequestration is a big dud, but for Americans who are losing their jobs, being kicked out of Head Start, or waiting longer for emergency services, the experience isn't quite so underwhleming.

    Help shrinks as poverty spikes in the US (AP)

    With 50 million Americans living below the poverty line, including 20 percent of the nation's children, we're worse off now than at any time since LBJ launched the federal government's War on Poverty, and sequestration cuts look a lot like a white flag of surrender.

    Tennessee to poor students: Improve your grades, or else! (MSNBC)

    Ned Resnikoff highlights a new measure working its way through Tennessee's state legislature that would cut TANF payments to families whose kids aren't keeping their grades up, though these lawmakers don't seem like a bunch of rocket scientists themselves.

    Do Americans still not get Reaganomics? (Salon)

    Tim Donovan notes that polls show Americans are nostalgic for the Reagan years and believe Republicans are good fiscal managers no matter how many economic crises they cause, which is like giving compliments to the chef for only poisoning half his diners.

    What Immigration Reform Could Mean for American Workers, and Why the AFL-CIO Is Embracing It (Robert Reich)

    Reich argues that union leaders support immigration reform because they recognize they won't be able to organize and improve conditions for fast-growing, low-wage jobs while employers have a steady supply of exploitable workers to replace the annoying talky ones.

    What It's Like to Lose Your Job While Pregnant (Buzzfeed)

    Anna North writes that despite existing legal protections, many pregnant women still face discrimination from employers who view them as liabilities. Always with the whining and complaining and "Can I sit down, I'm literally growing another human inside me."

    Senses of Entitlement (New Yorker)

    Hendrik Hertzberg argues that liberals have lost a major semantic battle by allowing "entitlements" to become the mainstream euphemism for social insurance programs, making them sound more like a rich kid's demand for a new car on his 16th birthday.

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  • Daily Digest - April 2: Pranked by the Recovery

    Apr 2, 2013Tim Price

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    The April Fool's economy (WaPo)

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    The April Fool's economy (WaPo)

    Ylan Q. Mui notes that while the economy seems to have picked up steam in the last few months, we've seen signs of strong early-year growth before only to be disappointed later. Fool me once, shame on you. Fool me twice, let's just wait for the jobs report.

    Recession Redux (TNR)

    John Judis is pessimistic given that we've opted not to pursue the New Deal-era approach to reform and investment that built a stronger, more stable economy, but are instead repeating the mistakes that led to the recession to see if we can really nail it this time.

    Why the Euro is Doomed in 4 Steps (The Atlantic)

    Matthew O'Brien makes the case that the euro has become as constraining and counterproductive for EU members as the gold standard once was, though at least the latter was based on the sound logic that humans are driven by an intense desire for shinies.

    Wages stink at America's most common jobs (CNNMoney)

    There's a reason your food server or retail salesperson seems disgruntled, and it's not just because you're asking about gluten-free options or return policies. New BLS data shows that seven of the 10 most common occupations pay less than $30,000 a year.

    Guest Workers as Bellwether (Dissent)

    Josh Eidelson looks at the abusive conditions to which many guest workers are subject, the effort to organize those workers to fight for change, and why no workers can really take for granted that their supervisors don't want to beat them with a shovel.

    Lean in, Dad (NYT)

    Catherine Rampell argues that America needs better work-life balance policies to avoid squandering its college-educated female workers, but paid paternity leave is also a must to prevent the assumption that women are a leave of absence waiting to happen.

    It's still a lovefest between Wall Street and regulators (Guardian)

    Heidi Moore notes that recent copouts in an SEC investigation and the Libor manipulation case show banks are still allowed to get away with "neither admitting nor denying" their crimes, introducing an element of quantum physics into financial regulation.

    The People's Bank (Prospect)

    Abby Rapoport writes that the populist, state-owned Bank of North Dakota has helped America's Freest State weather financial storms and supported fair lending practices and small banks, so naturally other states are reluctant to imitate the model.

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