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via Hope Yen, The Huffington Post The ranks of America’s poor are on track to climb to levels unseen in nearly half a century, erasing gains from the war on poverty in the 1960s amid a weak economy and fraying government safety net. Census figures for 2011 will be released this fall in the critical … Continue reading
via Anthony Faiola, The Washington Post Like so many others in this fiercely independent island nation, Steve Baker, a dashing English engineer, is fed up with the long hand of the European Union in British life. The E.U., he said, has meddled for years in British legal affairs and labor laws. But now the 27-nation … Continue reading
via Josh Mitchell, The Wall Street Journal Student debt is rising sharply among all age groups, but middle-aged Americans appear to be struggling the most with payments, according to new data released Tuesday by the Federal Reserve Bank of New York. The delinquency rate—or the percentage of debt on which no payment has been made … Continue reading
via Tyler Kingkade, The Huffington Post Even members of Congress are carrying student debt. Sen. Marco Rubio (R-Fla.) is $100,000 in the hole for student loans he took out in the 1990’s — and could owe as much as $250,000. The exact figure is unknown because members of Congress are allowed to report financial holdings … Continue reading
via Carrie Budoff Brown and Seung Min Kim, Politico President Barack Obama’s embrace of same-sex marriage was viewed for so long as such a risky move that operatives in both parties expected it to drop like a bomb, handing Republicans a powerful wedge issue in an election year. Instead, it’s landed like a feather. Top … Continue reading
via Michael McAuliff, The Huffington Post The House of Representatives advanced a bill Friday that funds cheaper student loans by cutting a preventive health care program — sparking a heated battle in which House Speaker John Boehner (R-Ohio) accused Democrats of manufacturing a war on women. The House passed the bill by a vote of … Continue reading
via Kate Sosin, Windy City Times In a move shocking LGBT rights groups in Illinois, Springfield’s city government has voted not to extend health benefits to civil union spouses. The Joint Labor/Management Health Care Committee, a Springfield committee comprised of staffers from various city positions as well as retirees, voted to keep its current eligibility … Continue reading
via Marie Diamond, ThinkProgress Federal imprisonment for unpaid debt has been illegal in the U.S. since 1833. It’s a practice people associate more with the age of Dickens than modern-day America. But as more Americans struggle to pay their bills in the wake of the recession, collection agencies are using harsher methods to get their … Continue reading
via Steven Malanga, Real Clear Markets What could be worse in Illinois right now? It’s November and ‘Da Bears’ are barely above .500, while the hated Packers are undefeated and the Lions (the Lions?!) are positioning themselves for a playoff run. Here’s what could be worse. Illinois’ state budget, filled with gimmicks, constructed for years … Continue reading
via Nouriel Roubini, Project-Syndicate This year has witnessed a global wave of social and political turmoil and instability, with masses of people pouring into the real and virtual streets: the Arab Spring; riots in London; Israel’s middle-class protests against high housing prices and an inflationary squeeze on living standards; protesting Chilean students; the destruction in … Continue reading
Debt Overview: via Peter G. Peterson Foundation
Interest: via Peter G. Peterson Foundation
Effects On The Economy: via Peter G. Peterson Foundation
Addressing the Problem: via Peter G. Peterson Foundation
President Barack Obama’s promise Thursday that everything in his jobs plan will be paid for rests on highly iffy propositions. It will only be paid for if a committee he can’t control does his bidding, if Congress puts that into law and if leaders in the future — the ones who will feel the fiscal … Continue reading
Two weekends ago, I dropped off my daughters at college. As any parent with children in college knows, this is a bittersweet ritual — piling your kid’s belongings into your car, getting them set up in their dorm rooms, then getting shooed away, leaving them with classmates, friends, deans, and professors. Of course, it’s bittersweet … Continue reading
The Brandt Standard 