Daily Digest - February 25: The Big Banks Had a Bad Year

Feb 25, 2015Rachel Goldfarb

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Annual Bank Profit Falls for First Time in Five Years (WSJ)

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Annual Bank Profit Falls for First Time in Five Years (WSJ)

Victoria McGrane says the trend is primarily because seven of the 10 largest banks posted lower earnings, while other parts of the banking sector, like community banks, are thriving.

The White House Has No Back-Up Plan if SCOTUS Rules Against Obamacare (Vox)

Sarah Kliff reports on the announcement that the Department of Health and Human Services has been unable to find an administrative fix in case they lose in King v. Burwell.

State Orders Minimum Wage Increase for Tipped Workers (Capital New York)

The New York State Labor Department has ordered an increase in the minimum wage for tipped workers from $5.00 to $7.50 per hour, writes Jimmy Vielkind.

Labor Takes Final Stand as Wisconsin Prepares Way for Anti-Union Law (AJAM)

Ned Resnikoff says Wisconson labor leaders see the governor's new support for right-to-work legislation as proof that he's already focused on appealing to donors for a 2016 presidential run.

Obama Proposal Recognizes How Retirement Saving Has Changed (NYT)

Neil Irwin argues that by requiring those who manage retirement savings to put their clients' best interests first, Obama is bringing back some of the protections of old-school pensions.

One Sign Americans Won't See Big Raises Anytime Soon (Bloomberg Business)

An increasing share of hires are workers who are just entering or re-entering the workforce, writes Jeanna Smialek, which is good for labor force participation but keeps salaries down.

New on Next New Deal

Guns on Campus: Not an Agenda for Women's Safety

Roosevelt Institute Fellow Andrea Flynn breaks down the data that proves allowing guns on campus will only increase the safety risks women face, not reduce sexual assault.

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Daily Digest - February 24: How to Recreate a Strong Middle Class

Feb 24, 2015Rachel Goldfarb

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Free the Middle Class (USA Today)

Senator Elizabeth Warren and Representative Elijah Cummings argue that bringing back a strong middle class requires government intervention.

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Free the Middle Class (USA Today)

Senator Elizabeth Warren and Representative Elijah Cummings argue that bringing back a strong middle class requires government intervention.

Even Better Than a Tax Cut (NYT)

Continually cutting taxes won't be possible if the government is going to function, argues Lawrence Mishel, which makes policies that push wage growth far more important right now.

NJ Judge Overturns Christie's Pension Cuts (AJAM)

Yesterday's ruling says that Christie could not choose to shortchange pensions in his 2014 budget, and he is now expected to make up the pension deficit by the end of the fiscal year in June.

A Student-Debt Revolt Begins (New Yorker)

Vauhini Vara speaks to one of 15 students from a now-closed for-profit college who are going on a "debt strike" because they argue the school's false promises make their loans invalid.

Retail Workers Are Quitting Their Jobs Like It’s 2007 (Buzzfeed)

Sapna Maheshwari ties the retail quits rate to recent moves by large retail employers to raise their wages. If workers are quitting because they can get better jobs, employers have to catch up.

Why Reform Conservatives Should Join the Democratic Party (The Week)

Jeff Spross argues that so-called reformicons would have much better luck with their policy priorities if they worked with Democrats, who actually support programs that help the poor.

Obama's Newest Plan Might Drive Investment Advisers Out of Business. Good. (Vox)

Matt Yglesias argues that it's for the best if financial advisors for the middle class are driven out of business, because they are only pushing products that make them money.

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Daily Digest - February 23: The Republican Health Plan is Less Coverage, More Costs

Feb 23, 2015Rachel Goldfarb

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GOP Health Plan Would Leave Many Low-Income Families Behind (The Hill)

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GOP Health Plan Would Leave Many Low-Income Families Behind (The Hill)

Roosevelt Institute Fellow Andrea Flynn explains how the Republican substitute for the Affordable Care Act would leave people with higher costs, worse coverage, and fewer protections.

Walmart Sends Wage Signal to U.S. Business (Financial Times)

David Crow and Sam Fleming speak to Roosevelt Institute Senior Fellow Damon Silvers about Walmart's wage hike, which he says will create pressure on other low-wage businesses.

U.S. West Coast Port Employees Agree to Deal (Bloomberg Business)

James Nash and Alison Vekshin report on the deal brokered by Labor Secretary Tom Perez, which will end the slowdowns at West Coast ports but won't immediately fix the cargo backlog.

A Friendly Office Debate Over Wages (NYT)

David Leonhardt and Neil Irwin agree that whether wage growth will accelerate is the biggest economic question of the year, but disagree on the likelihood of a positive answer.

The Rise of the Non-Compete Agreement, from Tech Workers to Sandwich Makers (WaPo)

Lydia DePillis looks at new research on non-compete agreements, which are surprisingly widespread in industries where they don't really seem necessary.

New on Next New Deal

The One Where Larry Summers Demolished the Robots and Skills Arguments

Roosevelt Institute Fellow Mike Konczal praises Summers and others for a recent panel in which they argued that unemployment and lack of wage growth can't be blamed on technology.

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Daily Digest - February 20: Teach Civic Engagement, Not Just Citizenship

Feb 20, 2015Rachel Goldfarb

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College as a Catalyst for Civic Engagement (Medium)

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College as a Catalyst for Civic Engagement (Medium)

Roosevelt Institute | Campus Network member Zach Lipp builds on a recent column by Frank Bruni, arguing that liberal education should develop the skills of civic engagement, not just citizenship.

Walmart Is Giving Raises. Walmart Is Feeling the Pressure. (Gawker)

Walmart hasn't decided to raise its wages to be nice, says Hamilton Nolan. Rather, it's a sign that Walmart is giving in to the ongoing campaigns by low-wage workers, who will win.

The Gig Economy Won't Last Because It's Being Sued to Death (Fast Company)

Sarah Kessler looks at these lawsuits, which center around the question of defining workers as independent contractors or employees, and how that question is changing the gig economy already.

Why Counting America’s Homeless is Both Imperative and Imperfect (Fusion)

Susie Cagle illustrates and writes about the 2015 homeless count in San Francisco, explaining how the homeless count works, why it's done, and what she encountered.

Hospital To Nurses: Your Injuries Are Not Our Problem (NPR)

Daniel Zwerdling looks at one hospital in North Carolina that has a history of dismissing nurses' cases for medical bills and workers' compensation when they are injured on the job.

A Whistleblower's Horror Story (Rolling Stone)

Speaking to the whistleblower from Countrywide Financial, Matt Taibbi says the lack of punishment beyond fines for companies could disincline future whistleblowers from coming forward.

New on Next New Deal

Four Ways to Prune a Rose: Why the NYT Missed the Mark on the Inequality Debate

Eric Bernstein, a program associate at the Roosevelt Institute, explains why a study that claims inequality isn't rising was framed and conducted incorrectly and should be dismissed.

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Daily Digest - February 17: The Shame of Denying Corporate Responsibility

Feb 17, 2015Rachel Goldfarb

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Obama Shames Companies Who Don't Want to Provide Health Insurance (Melissa Harris-Perry)

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Obama Shames Companies Who Don't Want to Provide Health Insurance (Melissa Harris-Perry)

As guest host on Melissa Harris-Perry, Roosevelt Institute Fellow Dorian Warren examines the president's comments about a Staples policy that prevents workers from obtaining insurance.

The State Where Even Republicans Have a Problem With Busting Unions (The Nation)

John Nichols says that Illinois Governor Bruce Rauner is having trouble maintaining support for his plans to weaken public sector unions, with his Republican Comptroller refusing to cooperate.

The Rich Own Our Democracy, New Evidence Suggests (AJAM)

New studies show that Congress votes closest to the desires of its donors, writes Sean McElwee, and donors' ideological extremism has probably produced our dramatic polarization.

States Consider Increasing Taxes for the Poor and Cutting Them for the Affluent (NYT)

Shaila Dewan explains that shifting from income taxes to consumption-based taxes in the states increases the burden on the poor, and has led to huge budget shortfalls in Kansas and North Carolina.

The Tall Task of Unifying Part-Time Professors (The Atlantic)

Kate Jenkin looks at the challenges of organizing a group of workers who are part-time and shift from campus to campus each semester in light of the upcoming National Adjunct Walkout Day.

The War on the War on Poverty (TNR)

Michael A. Cooper Jr. looks at Republicans' efforts to shut down the Center on Poverty, Work, and Opportunity at UNC Law. These same politicians try to argue that poverty isn't a problem.

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Daily Digest - February 13: Campus Network Award Has Local Benefits

Feb 12, 2015Rachel Goldfarb

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Cornell Roosevelt Institute to Benefit From Grant (Cornell Daily Sun)

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Cornell Roosevelt Institute to Benefit From Grant (Cornell Daily Sun)

Stephanie Yan reports on how the Roosevelt Institute | Campus Network's MacArthur Award will impact the Cornell chapter, which will benefit from new national training programs.

Philadelphia Joins the Growing Ranks of Cities Requiring Paid Sick Days (ThinkProgress)

Bryce Covert reports on Philadelphia's new paid sick leave law, which makes it the 17th U.S. city with such a law. Paid sick leave is expected to save businesses money due to reduced turnover.

These Motel Rooms Are the Last Resort for Families Without Homes (The Nation)

Leighton Akio Woodhouse profiles two families who are living in motels long-term because they cannot afford the upfront costs of an apartment, accompanied by photos by Elizabeth Lloyd Fladung.

At My Oil Refinery, My Life is Worth the Price of a Pie (The Guardian)

Butch Cleve, an oil refinery worker, explains why 5,000 oil and chemical workers have gone on strike for safer labor conditions. He shares stories of terrible – and preventable – accidents.

GOP Governors Want Higher Education Cuts to Recoup Budget Shortfalls (MSNBC)

Suzy Khimm points out four Republican governors whose states are still experiencing budget shortfalls, at least in part due to recent tax cuts, and are cutting education funding to close to the gap.

Jails Have Become Warehouses for the Poor, Ill and Addicted, a Report Says (NYT)

Timothy Williams reports on a new study from the Vera Institute of Justice, which shows how local jails imprison people for extended periods when they are unable to pay their relatively minor fines.

Obama Blasts Staples, and Reveals Larger Partisan Divide Over Workplace (WaPo)

Paul Waldman analyzes the president's statements about Staples limiting part-time workers' hours, noting that Democrats don't just aim to create jobs, but also try to improve workplaces.

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Daily Digest - February 10: What Happened to Reinvesting Corporate Profits?

Feb 10, 2015Rachel Goldfarb

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Stock Buybacks Are Killing the American Economy (The Atlantic)

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Stock Buybacks Are Killing the American Economy (The Atlantic)

Nick Hanauer blames the high percentage of corporate profits going to stock buybacks for our slowed economy; that money could otherwise go to higher wages or new corporate investments.

Obama and Congress Offer Bogus Rhetoric on Tax Reform (AJAM)

David Cay Johnston says that both the Democrats and the Republicans are only discussing tax reform that benefits the political donor class, instead of reform that help average Americans.

  • Roosevelt Take: In a white paper released last year, Roosevelt Institute Chief Economist Joseph Stiglitz proposed a tax plan that would promote equity and growth for all.

Right-to-Work Laws are Every Republican Union-Hater's Weapon of Choice (The Guardian)

There are no philosophical or economic arguments in favor of right-to-work laws, writes Michael Paarlberg, only a political preference for supporting employers over workers.

Illinois Governor Acts to Curb Power of Public Sector Unions (NYT)

Monica Davey and Mitch Smith report on Governor Rauner's executive order, which will strip public sector unions of the fair share dues that non-members pay for the benefits they get anyway.

Red States' New Tax on the Poor: Mandatory Drug Tests for Welfare Recipients (TNR)

Elizabeth Stoker Bruenig points out that only certain public funds require invasive tests to ensure recipients are worthy of assistance. Other forms of welfare, like public schools, are simply accepted.

In at Least 22 States, Your Student Debt Could Cost You Your Job (Jobs With Justice)

Chris Hicks points out the disconnect inherent in laws that revoke professional licenses from people who aren't able to pay their student debt. How will they make enough to pay it off without that license?

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Daily Digest - February 6: If Government Cares About the Next Generation, Where Are Their Ideas?

Feb 6, 2015Rachel Goldfarb

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Youth Agenda a Glaring Omission in Rauner's State of the State (State Journal-Register)

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Youth Agenda a Glaring Omission in Rauner's State of the State (State Journal-Register)

Campus Network members Rachel Riemenschneider and Samuel Wylde point to the NextGen Illinois youth policy agenda as a collection of young people's concerns that are being overlooked.

Amherst College's Roosevelt Institute to share in $750,000 MacArthur Award (MassLive)

Diane Lederman reports on the Campus Network's MacArthur Award, quoting two students from the Amherst College chapter, Joshua Ferrer and Pierre Joseph.

Fast Food Companies are Invoking ‘Main Street’ to Fight Unions (WaPo)

Lydia DePillis explains how McDonalds is putting its small franchisees front and center to push back against unionization efforts. However, these franchises don't have much independence at all.

The Democrats in Opposition (TAP)

Harold Meyerson argues that if Democrats choose to function as an opposition party against not just the Republicans, but also Wall Street, they will have far more success at the ballot box in the future.

Jobs-Day Guide: January Surprise, U.S. Wages, Participation Rate (Bloomberg Business)

Victoria Stilwell predicts that the latest jobs numbers will fall below projections, as they often do at the beginning of the year. The annual payroll revision numbers will also be worthy of attention.

How the American Family Was Affected by the Great Recession (Pacific Standard)

The most noticeable differences, writes Philip N. Cohen, are in birth rate and divorce rate, which both saw sharp drops at the beginning of the recession and have since rebounded.

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Daily Digest - January 27: For Some Workers, A Snow Day Puts Jobs at Risk

Jan 27, 2015Rachel Goldfarb

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No Snow Days for Low-Wage Workers (AJAM)

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No Snow Days for Low-Wage Workers (AJAM)

Most low-wage workers don't have the option of missing work during snowstorms, writes E. Tammy Kim, and may risk being fired if lack of public transit prevents them from getting there.

Supreme Court Rules Against Retirees in Union Health Benefits Case (NYT)

Adam Liptak reports on the Court's decision in M&G Polymers USA v. Tackett, which holds that a contract that doesn't specify whether retiree health benefits are for life shouldn't be assumed to do so.

The Dark Side of ‘Sharing Economy’ Jobs (WaPo)

Catherine Rampell points out that companies like Uber are shifting much of the risk inherent in their businesses to workers who are defined as independent contractors and lack protection.

A Staggeringly Lopsided Economic Recovery (The Nation)

Zoë Carpenter looks at a new study from the Economic Policy Institute about the 1 percent's gains during the recovery, which shows that group captured at least half of growth in most states.

Why de Blasio Was Right to Take on Criminal Justice Reform (Slate)

Jamelle Bouie says that since excessive policing caused economic problems, like job loss, in communities of color, Mayor de Blasio's criminal justice reform has also served as economic populism.

New on Next New Deal

Did Ending Unemployment Insurance Extensions Really Create 1.8 Million Jobs?

Roosevelt Institute Fellow Mike Konczal says probably not, because the study making this claim has problematic models and technique, as well as "noisy" confusing data.

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Daily Digest - January 26: Taxing for the Common Good

Jan 26, 2015Rachel Goldfarb

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Obama Declares Recovery of American Economy (UP with Steve Kornacki)

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Obama Declares Recovery of American Economy (UP with Steve Kornacki)

Roosevelt Institute Chief Economist Joseph Stiglitz discusses the tax proposals in the State of the Union address, and explains where they could have done more to promote prosperity.

McDonalds Workers File Civil Rights Lawsuit (NOW with Alex Wagner)

Roosevelt Institute Fellow Dorian Warren, Friday's guest host, ties this new racial discrimination case to broader patterns of poor labor practices at McDonald's.

Why Obama Took the Lead on High-Speed Internet Access Policy (Medium)

Roosevelt Institute Fellow Susan Crawford says the president's take on Internet access has shifted to better align with his discussion of middle-class economics.

Report: Fast Food Industry Could Survive $15 Minimum Wage (AJAM)

A new report from economists at the University of Massachusetts at Amherst explains how fast food companies could maintain their profit margin while raising wages, writes Ned Resnikoff.

Why Wealthy Americans’ Delusions About the Poor Are So Dangerous (Salon)

David Sirota says that reliance on regressive tax policies, such as sales taxes instead of state income taxes, are harming state economies by giving poor families higher effective tax rates than rich ones.

Middle Class Shrinks Further as More Fall Out Instead of Climbing Up (NYT)

Dionne Searcey and Robert Gebeloff examine the data on the shrinking middle class, noting that only in recent decades has the middle class shrunk because people were moving down the ladder.

New on Next New Deal

Roosevelt Reacts: What Else Did We Need from the 2015 State of the Union?

Roosevelt Institute | Campus Network students and alumni respond to the State of the Union address, with a particular focus on what the president left out or could have taken further.

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