Daily Digest - November 21: Costly, Risky Deals Can Be Undone

Nov 21, 2014Rachel Goldfarb

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Teachers Union, Advocates Protest and Ask CPS to Act on Costly Borrowing (Chicago Tribune)

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Teachers Union, Advocates Protest and Ask CPS to Act on Costly Borrowing (Chicago Tribune)

Heather Gillers reports on a rally led by the Chicago Teachers Union, where Roosevelt Institute Fellow Saqib Bhatti urged the mayor to push hard on banks to recoup losses from too-risky deals.

  • Roosevelt Take: For more on this issue, read Bhatti's new report, "Dirty Deals: How Wall Street’s Predatory Deals Hurt Taxpayers and What We Can Do About It."

From Phone Booths to Hot Spots (Medium)

Roosevelt Institute Fellow Susan Crawford praises a new plan to convert New York City's pay phones into high-speed wireless hotspots, which she says would help local businesses immensely.

Facebook’s Shuttle Bus Drivers Seek to Unionize (NYT)

Steven Greenhouse reports on the drivers' reasons for unionizing, which center around their very difficult split-shift schedule and wages that are insufficient for housing near work.

Wall Street is Taking Over America's Pension Plans (The Intercept)

Murtaza Hussain calls Wall Street's funding campaigns in hopes of shifting public pensions to investments that build their profits "the biggest financial story of our generation that you’ve never heard of."

Congress Must Not Let Wind Energy Jobs Blow Away (The Hill)

Michael Brune and Leo W. Gerard call for the renewal of the Wind Production Tax Credit, arguing that wind power isn't just better for the environment, but also has the potential to create thousands of jobs.

Fed’s Dudley Sees Loss of Trust in Banks as Threat to Stability (WSJ)

Senate testimony from the President of the New York Federal Reserve argues that there is a case to be made for splitting up the big banks even now, writes Pedro da Costa.

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Daily Digest - November 19: Why Do So Few Workers Get Overtime Pay Today?

Nov 19, 2014Rachel Goldfarb

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Whatever Happened to Overtime? (Politico Magazine)

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Whatever Happened to Overtime? (Politico Magazine)

Nick Hanauer says that raising the earnings threshold for mandatory overtime pay would kickstart the economy by either ensuring workers have more money or forcing companies to hire more workers.

Can Republicans Shut Down the Government Without Actually Shutting Down the Government? (WaPo)

Paul Waldman explains the GOP plan to stop any executive action on immigration without shutting down the government. The strategy: to pass spending bills that exclude the offices that would work on that issue.

Over Bentley's Objections, Golden Dragon Plant Votes for Union (Montgomery Advisor)

The Republican governor of Alabama urged workers at a copper plant to vote against unionizing with a letter distributed directly to the plant workers shortly before they voted in favor of their union.

Republicans Sure Love to Hate Unions (NYT)

Thomas Edsall points out that while Republicans demonize unions, and public sector unions in particular, the Democrats aren't doing much of anything to push back on labor's behalf.

When Mega Corporations Get Mega Tax Breaks, We All Pay (The Nation)

Katrina vanden Heuvel, a member of the Roosevelt Institute's board of directors, says that closing corporate income tax loopholes could fund incredible projects, like national universal pre-K.

Here's Why Conservatives Will Never Give Up Their War on Obamacare (TNR)

The "partisan incomprehension" that follows the Affordable Care Act around in the news is primarily based in the fact that Republicans lost a highly partisan fight, writes Brian Beutler.

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Daily Digest - November 17: Getting Married Won't Solve Inequality

Nov 17, 2014Rachel Goldfarb

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Why You Shouldn’t Marry for Money (The Nation)

Roosevelt Institute Fellow Mike Konczal and Bryce Covert explain why the conservative idea of reducing poverty and inequality by promoting marriage won't actually work.

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Why You Shouldn’t Marry for Money (The Nation)

Roosevelt Institute Fellow Mike Konczal and Bryce Covert explain why the conservative idea of reducing poverty and inequality by promoting marriage won't actually work.

Nobel Prize-Winning Economist Reveals Why Robots Really Are Coming For Your Job (Business Insider)

Tomas Hirst reports on a new paper by Roosevelt Institute Chief Economist Joseph Stiglitz, which argues that left unchecked, innovation can create market failures that increase inequality.

Why Screwing Unions Screws the Entire Middle Class (MoJo)

Kevin Drum argues that the Democrats' split from organized labor in the 1960s and labor's subsequent loss of power helped to create the pro-business political climate we have today.

Kansas Revenues Will Fall $1 Billion Short of 2015 and 2016 Expenses, Fiscal Experts Say (Kansas City Star)

Following massive income tax cuts, Kansas faces severe shortages, and critics of the tax cuts worry the results will be cuts for schools, roads, and social services, writes Brad Cooper.

Inequality, Unbelievably, Gets Worse (NYT)

Steven Rattner points to new data from the Federal Reserve showing increased inequality. He emphasizes government transfer programs as a way to ease the problem.

Arkansas’s Blue Collar Social Conservatives Don’t Know What’s Coming (Daily Beast)

200,000 Akansans gained health insurance through a hybrid "private option," but Monica Potts writes that with newly elected officials focused on money over people, that could disappear.

The Real Winner of the Midterms: Wall Street (In These Times)

David Sirota ties Wall Street's funding of gubernatorial campaigns to its profits: many of these candidates support "pension reform" that will increase Wall Street's fees.

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Daily Digest - November 14: Strikes on Capitol Hill, the Post Office, and Walmart

Nov 13, 2014Rachel Goldfarb

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Take 5: CTU's Fight Against Risky Financial Deals, Ed Policy Under Rauner (Catalyst Chicago)

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Take 5: CTU's Fight Against Risky Financial Deals, Ed Policy Under Rauner (Catalyst Chicago)

Roosevelt Institute Fellow Saqib Bhatti criticizes the Chicago Public Schools for diving deeper into overly risky financial deals, which he says were misrepresented by the banks.

Capitol Workers Ask Obama for Pay 'More Like Costco and Less Like Walmart' (The Guardian)

Workers who serve meals in the Capitol's dining facilities went on strike Wednesday to protest their poverty-level wages, writes Jana Kasperkevic. This is the first strike of federally contracted workers to include Capitol workers.

Postal Workers to Address Service Cuts at National Rallies (AJAM)

Ned Resnikoff reports on the demonstrations planned for Friday by the American Postal Workers Union, which is protesting cuts that would eliminate jobs and lead to slower delivery.

Walmart Workers Stage Sit-In At California Store Ahead Of Black Friday (Buzzfeed)

Yesterday's first-of-it's-kind protest involved about 25 Walmart workers in Southern California, reports Claudia Koemer, who draws parallels to retail strikes of the 1930s.

The Number of Unemployed Exceeds the Number of Available Jobs Across All Sectors (Working Economics)

Elise Gould says that since unemployed workers outnumber job openings across all sectors, the problem in the labor market must be a broad lack of demand, not a skills gap.

Great News: Lots of Americans Just Quit Their Jobs (Vox)

Danielle Kurtzleben says the sharp increase in the quits rate in September is a sign of economic health, since people don't leave jobs without expecting to find another.

Why Women Should Get the Rest of the Year Off (The Nation)

Bryce Covert quips that since women make only 78 percent of what men make, it's time for women to take a vacation – not just from their jobs, but from the second shift at home as well.

New on Next New Deal

The UNC Coup and the Second Limit of Economic Liberalism

Roosevelt Institute Fellow Mike Konczal says the University of North Carolina's financial aid rules demonstrate how current liberal policy pits the middle class against the poor for access to goods and services.

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Daily Digest - November 13: When Government Intervention is the Best Remedy for a Health Crisis?

Nov 12, 2014Rachel Goldfarb

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Ebola and Inequality (Liberian Observer)

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Ebola and Inequality (Liberian Observer)

Roosevelt Institute Chief Economist Joseph Stiglitz says the Ebola crisis reveals the absolute need for a government role in health care. Drug companies aren't creating cures for diseases that primarily impact the poor.

Don't Forget the Kinda Unemployed (U.S. News & World Report)

Mike Cassidy points out the workers who are missed by the traditional unemployment rate: involuntary part-timers and marginally attached workers. While unemployment has improved, underemployment is still elevated.

Is Wage Stagnation Killing the Democratic Party? (Vox)

While Ezra Klein agrees that wage stagnation is a major issue today, he doesn't think it impacted the midterms as much as the difference between midterm and presidential year electorates.

VW to Allow Labor Groups to Represent Workers at Chattanooga Plant (NYT)

Steven Greenhouse reports on Volkswagen's new policy, which will create formal structures for groups representing at least 15 percent of plant workers to meet with company officials.

If Democrats Want to be the Party of the People, They Need to Go Full Populist (The Week)

It's time to reject neoliberal commitment to markets and convince the American people of the power of economic populism and income transfer programs, writes Ryan Cooper.

  • Roosevelt Take: Roosevelt Institute Senior Fellow Richard Kirsch points out that the populist narrative was key in Democratic midterm wins.

Did Obama Shoot Himself in the Foot on Net Neutrality? (MoJo)

Erika Eichelberger suggests that the president may have lost the fight on net neutrality back in 2013, by appointing a Federal Communication Commission chairman who is so friendly to the industry.

Study: Social Welfare Programs Help Fight Poverty in America (The Guardian)

Jana Kasperkevic looks at a new study showing just how important social safety net programs are in reducing poverty; without food stamps, another 8 million Americans would be in poverty.

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Daily Digest - November 5: Can a Minimum Wage Hike Still Happen in a Republican Congress?

Nov 5, 2014Rachel Goldfarb

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Will the GOP Make a Move on Minimum Wage? (MSNBC)

Roosevelt Institute Fellow Dorian Warren suggests that the business wing of the Republican Party could push for a higher minimum wage because of stagnant demand.

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Will the GOP Make a Move on Minimum Wage? (MSNBC)

Roosevelt Institute Fellow Dorian Warren suggests that the business wing of the Republican Party could push for a higher minimum wage because of stagnant demand.

GOP: From Shutdown Villains to Kings of Congress? (AJAM)

Alvaro Guzman Bastida looks at how the GOP swung back from its lowest approval ratings in history. Roosevelt Institute Fellow Mike Konczal says that while the shutdown is no longer hurting the economy, austerity is.

Obama Just Lost the Battle for the Senate. It's Time He Waged War for Real. (TNR)

The only real play the President and the Democrats have now is to push hard for progressive policies that energize Obama voters in preparation for 2016, writes Brian Beutler.

The Wealth Gap Preoccupies Wall Street (Newsweek)

Lynnley Browning says that even big financial institutions, from Credit Suisse to the World Bank, are worried about the impact of extreme economic inequality on the economy as a whole.

Higher Minimum Wages Prove Popular; Marijuana Is Less So in Florida (NYT)

Shaila Dewan reports on winning minimum wage measures in solidly Republican states, among other ballot measures. Support for a higher minimum wage significantly cut across party lines.

New on Next New Deal

Finance 101 Problems in National Affairs' Case For Fair-Value Accounting

Roosevelt Institute Fellow Mike Konczal digs into a new conservative defense of fair-value accounting for student loans, and finds that its authors are fundamentally mistaken about what FVA is and does.

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Control of the Senate Could Lie With Kansas

Nov 3, 2014Andrea FlynnShulie Eisen

The Kansas Senate race could determine control of Congress - but there isn't a Democrat involved. Read the other state-by-state analyses in this series here.

The Kansas Senate race could determine control of Congress - but there isn't a Democrat involved. Read the other state-by-state analyses in this series here.

Kansas is in the midst of not one, but two, close-call midterm races: the Senate race between Senator Pat Roberts (R) and Greg Orman (Independent), and the Governor’s race between Governor Sam Brownback (R) and State Representative Paul Davis (D). The Senate race has been closely watched since the Democratic candidate, Chad Taylor, dropped out in September, launching Orman, running for Senate as an Independent, into the hot seat and giving the political landscape in Kansas an extra dose of unpredictability. Orman bills himself as “fiscally responsible and socially tolerant,” and it is unclear which party he would more closely align himself with if elected. What is clear is that Kansas voters are still undecided, with almost every poll predicting a different election outcome. The race for this Senate seat in Kansas may very well decide which party controls Congress, and women voters in Kansas could determine which way the tide turns.

Where do women in Kansas stand?

  • As in most states, women in Kansas face higher poverty rates than men, and women of color experience rates almost twice that of white women.
  • Over 40 percent of female-headed households live in poverty.
  • Kansas is the only state in the country that saw its uninsured rate significantly increase in the last year. Fourteen percent of women (18 percent of African Americans and 28 percent of Latina women) in Kansas (age 19-64) are uninsured.
  • Kansas is not participating in Medicaid expansion under the Affordable Care Act, leaving approximately 78,000 currently uninsured adults, half of whom are women, who would have otherwise qualified, without coverage.
  • Sixty percent of minimum wage earners are women.
  • According to the National Women’s Law Center, the unemployment rate for women in Kansas in 2011 was 6.2 percent, a 2.1 percentage point increase since the recession began in December 2007. 41.7 percent of jobless women workers in Kansas had been looking for work for 27 weeks or more.
  • Women also face a persistent gender wage gap – while women overall make only $0.76 for every dollar a white man makes, African American women make $0.66 to the dollar and Hispanic women only make $0.50 to every dollar.
  • The state has no paid sick leave or family leave policies.
  • Kansas passed a law in 2011 that blocked any clinic or provider that provides abortions from receiving Title X federal family planning funds (federal law already prevents Title X funds from being used for abortion but does allow providers to use other funding sources to pay for such services).

Where do the candidates stand?

Affordable Care Act

Senator Pat Roberts has consistently opposed the Affordable Care Act (ACA) and is a vocal critic who advocates for complete repeal of the law. He was the first to call for the resignation of Kathleen Sebelius, the then-Secretary of Health and Human Services, and supported the federal government shutdown during the debate to defund the ACA. In the past, Roberts has supported federal health care spending, voting for the 2003 Medicare prescription drug benefit and supporting efforts at the federal level to expand access to health care service delivery options in rural areas.

Greg Orman has criticized the ACA as an expansion of a “broken system” and says he would have voted against it if he had been in the Senate, but has said he does not support repealing the entire ACA. He has also said that Governor Brownback made a mistake in not accepting federal money to expand Medicaid in Kansas.

Family Planning

Roberts supported the U.S. Supreme Court ruling in the Hobby Lobby case, saying “Every American has a right to the free exercise of religion guaranteed by the First Amendment to our Constitution.” Roberts voted no on adopting an amendment to the Senate’s 2006 budget that allocated $100 million to increase funding and access to family planning services (including creating and expanding teen pregnancy prevention and education programs).

Orman disagreed with the Hobby Lobby ruling, saying on his website that the case “is a dangerous precedent to set and opens the door to many more court challenges from private employers.” He also says that, “As a man, I’ll never face some of the decisions women have to make. I know the women of Kansas are smart, and I trust them to make their own decisions about their reproductive health.”

Abortion

Kansas has passed a number of restrictions on abortion, including, among other restrictions, a 24-hour waiting period, state-directed counseling, the requirement that an optional rider must be purchased at additional cost for abortion coverage in private insurance, the prohibition of telemedicine for medication abortions, parental consent for a minor, and an ultrasound requirement. Many of these requirements were passed in an omnibus bill in April 2013 and are currently being challenged in two different lawsuits.

Roberts is a staunch abortion rights opponent and has voted a number of times in support of federal restrictions on abortion access, including an amendment prohibiting minors from going across state lines for abortion services, a bill that would make harming a fetus during a violent crime a criminal offense, the 2003 “partial-birth” abortion ban, and the No Taxpayer Funding for Abortion Act. In a recent debate with Orman, Roberts blasted him for suggesting that a debate on abortion was detracting from other important issues. "Get past the rights of the unborn? Get past the guarantee of life for those at the end of life? ... I think that's unconscionable," Roberts said.

Orman has said he supports access to abortion services and that he believes “it’s time for our government to move past this issue and start focusing on other important issues.”

Violence Against Women

Roberts was one of 22 Senators to vote against reauthorizing the Violence Against Women Act (VAWA) in 2013. It was his second time voting against the bill. Many who opposed VAWA considered it an overreach of the federal government to include specific new protections for immigrants, gays, and Native Americans.

Orman's campaign materials and website do not mention violence against women.

Minimum wage and the social safety net

Roberts does not support raising the minimum wage. Roberts also added an amendment, which ultimately did not pass, to the Agriculture Reform, Food, and Jobs Act of 2013 (the Farm Bill) to cut $12 billion in addition to the $4 billion already in the bill that did pass from the SNAP program (also known as food stamps).

Orman supports tying a federal rise in the minimum wage to inflation, and believes that areas with higher costs of living should have a higher minimum wage. He has not said anything publically on food stamps or other social safety net programs.

Read the rest of this series here.

Andrea Flynn is a Fellow at the Roosevelt Institute. Follow her on Twitter @dreaflynn.

Shulie Eisen is an independent reproductive health care consultant. Follow her on Twitter @shulieeisen.

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Daily Digest - October 30: The Economic Impact of Cities' Sister Act

Oct 30, 2014Rachel Goldfarb

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Sister City Relationships Boost Business in Chicago, Phoenix and S.F. (Next City)

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Sister City Relationships Boost Business in Chicago, Phoenix and S.F. (Next City)

Roosevelt Institute | Campus Network Senior Fellow for Defense and Diplomacy Nehemiah Rolle examines how these relationships allow cities to be power players in the global economy.

Why Millennials Can Fix Healthcare (Huffington Post)

Campus Network Senior Fellow for Health Care Emily Cerciello argues that Millennials' focus on how businesses can improve society could dramatically change the health industry.

Why Dems Are Winning on Minimum Wage (Politico)

Timothy Noah points at numerous races in which raising the minimum wage is proving the perfect wedge issue, and could help to boost Democratic turnout at the polls.

What Happens When People—Rather Than Politicians—Are Given the Chance to Vote for a Higher Minimum Wage? (The Nation)

Michelle Chen says economic justice advocates see these ballot initiatives as a far more straightforward way to improve people's lives than dealing with politicians.

Watchdog Slams Mortgage, Student Loan Servicers (The Hill)

The Consumer Financial Protection Bureau says it has found a broad array of illegal practices, reports Benjamin Goad, but it won't be announcing which servicers are breaking the law.

New on Next New Deal

Election 2014: Women's Rights in the Balance

Roosevelt Institute Fellow Andrea Flynn introduces her series examining the ways that close-call races across the country could impact health care, economic issues, and more. The state-by-state analyses, published throughout today and tomorrow, can be found here.

We Need Pretrial Detention Reform in Massachusetts

Roosevelt Institute | Campus Network Senior Fellow for Equal Justice Jessica Morris says alternatives to bail would create a more just legal system in her state.

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Daily Digest - October 28: The Fed's Top Priority Should Be Wages, Not Inflation

Oct 28, 2014Rachel Goldfarb

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Fed Can Influence Banks to Spread Opportunity (NYT)

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Fed Can Influence Banks to Spread Opportunity (NYT)

Roosevelt Institute Chief Economist Joseph Stiglitz writes that the Federal Reserve should hold back on interest rate increases until wage growth has made up for workers' recession losses.

How 'Flexible' Schedules Have Become a Trap for Working Parents (Vox)

Roosevelt Institute Fellow Andrea Flynn and Elizabeth Weingarten explain how erratic scheduling practices prevent the financial stability working parents need.

What's a 'Living Wage' in Wisconsin? (Bloomberg Businessweek)

Because Wisconsin's minimum wage law says it should also be a living wage, a group of low-wage workers are suing to have it raised, reports Josh Eidelson.

The Other Side of the Growing Disconnect Between Where You Live and Work (Pacific Standard)

Jim Russell looks at an example of a company bringing in lower-paid workers from other countries to explain how global wages hurt people's ability to pay rent in expensive cities.

Efforts to Regulate CEO Pay Gain Traction (Boston Globe)

Katie Johnston looks at some state-level efforts, including a Massachusetts initiative to fine hospitals that pay executives more than 100 times their lowest-paid employees.

How a Divided Senate Could Threaten Social Security (The Nation)

John Nichols says that if the independents running for Senate were to emphasize ending gridlock above all else, their compromises could cause unacceptable harm.

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Daily Digest - October 22: Taking Organized Labor Beyond Collective Bargaining

Oct 22, 2014Rachel Goldfarb

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The Seeds of a New Labor Movement (TAP)

Harold Meyerson profiles David Rolf of SEIU and his work to push labor organizations beyond collective bargaining to incorporate minimum wage fights and other organizing work.

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The Seeds of a New Labor Movement (TAP)

Harold Meyerson profiles David Rolf of SEIU and his work to push labor organizations beyond collective bargaining to incorporate minimum wage fights and other organizing work.

  • Roosevelt Take: Roosevelt Institute Senior Fellow Richard Kirsch's report lays out policy ideas for reinvigorating the labor movement.

Holiday Shopping Season Kicks Off With Temp Workers Who Have No Rights (The Guardian)

Siri Srinivas says Amazon's annual hiring of thousands of temp workers to staff its warehouses during the busy holiday season highlights the lack of protections for U.S. workers.

States Ease Laws That Protected Poor Borrowers (NYT)

Michael Corkery reports on recent efforts by the consumer loan lobby to permit higher interest rates on riskier loans. These changes are opposed by many, including military leaders.

America’s Ugly Economic Truth: Why Austerity is Generating Another Slowdown (Salon)

David Dayen says that our economic October surprise, which includes stock market slumps and interest rate drops, is indicative of a larger global problem caused by austerity politics.

Ebola Galvanizes Workers Battling to Join Unions, Improve Safety (Reuters)

For workers exposed to bodily fluids, like those who clean airplane bathrooms, lack of clarity around Ebola safety has kicked union organizers into overdrive, writes Mica Rosenberg.

Republicans Trying to Woo, or at Least Suppress, Minority Vote (NY Mag)

Jonathan Chait looks at the Republican Party's split strategy, which simultaneously attempts to convince minority voters to vote for them while pushing laws that make it more difficult to vote.

Federal Reserve Officials Scold Bankers, Again (Buzzfeed)

Matthew Zeitlin reports on statements by the New York Federal Reserve president at a conference on Monday, where he questioned whether large banks can be managed effectively.

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