Economy

In its annual poverty report, the Census includes a table that few take note of which actually details by how much families are below the poverty line. In 2012, the number was $175.3 billion, 1% of GDP. That is how many dollars it would take to bring every person in the U.S. up to the poverty line...
09/30/2013
Data Byte
Here we go again: Financial markets are plummeting thanks to the threat of a government shutdown and, beyond that, another debt ceiling crisis. One of the great bull markets of recent years is being derailed by a bunch of extreme conservatives in Congress. But Wall Street shouldn't just blame the...
09/30/2013
Blog
Scott Sumner has become famous in the internet world and elsewhere as monetarism’s most capable defender. Sumner has a lot of things to say, but one is illustrative for my purposes here. Sumner argues that advocates of fiscal stimulus often make the mistake in their arguments of...
09/27/2013
Blog
It’s their fifth strike in five months, but the workers of Good Jobs Nation didn’t seem the least bit tired this morning. Low-paid employees from the food courts of federal buildings, the gift shops of the Smithsonian, and others employed under federal contracts, concessions, and lease...
09/25/2013
Blog
Last week, the Census put out its annual income and poverty figures for 2012. The big news on the poverty front is that the percentage of Americans living in poverty is unchanged at 15 percent, which amounts to 46.5 million Americans. More than 1 in 5 kids under the age of 18 are in poverty...
09/23/2013
Blog
In the wake of the House Republicans 217 to 210 decision to cut food stamps it's worth revisiting how the 2000s were a lost decade for the poor.  From the Census numbers released this week: Food stamps were one of the few brights spots in a frayed social safety net. In 2012, one in five...
09/20/2013
Blog
Harry Binswanger wrote a post over at Forbes that lit up the internet yesterday. In it, he claims that really it is the 99 percent, that should give back to the 1 percent, from whose teet we apparently all suckle. Needless to say, the argument that unfolds is a total train wreck. Binswanger’s...
09/18/2013
Blog
Washington's set to go from not doing enough to actively adding to our unconscionable poverty rate, slashing food stamps as poverty languishes. That's because the House Republicans have a plan to double-down in their cuts to the Supplemental Assistance for Needy Families (SNAP), commonly known as...
09/18/2013
Blog
Occupy Wall Street was born exactly two years ago today, and even as that movement reached its zenith later in the fall of 2011, it was easy to dismiss the activists who took over financial centers around the nation. Their policy agenda was amorphous and their organizational processes seemed...
09/16/2013
Blog
While this week’s inequality numbers have gotten a lot of attention, Paul Krugman points out an interesting corollary: not only are the top 10 percent taking home nearly half of the country's income, and the top 1 percent taking their largest share since 1928, but the top .01 percent have...
09/13/2013
Blog
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