Media

Give them jobs. That's the most important answer to the serious economic crisis gripping young America, which faces double digit unemployment rates for some groups -- levels rivaling that of the Great Depression. 

Of course, creating jobs sounds very complicated -- a multi-part process of "stimulating" economic growth to boost demand so that employers add more workers. In fact, though, creating jobs is one of the easiest things for government to do: Just use public dollars to directly hire workers and, presto, government has created jobs. 

Scrooge has come early this year. We’re kicking our Tiny Tims. This holiday season, kids in America’s poorest families are going to have less to eat.

November 1 brought $5 billion in new cuts to the nation’s food stamp program, now officially known as the Supplemental Nutrition Assistance Program, or SNAP.

It's no secret that wealthy Americans have enjoyed low taxes since the dawn of the Reagan era—even as they have scored huge income gains thanks to changes in the economy. A less well-known fact, though, is that middle and low-income earners have seen far bigger cuts in their federal taxes, which has helped offset stagnant incomes for these groups and may explain why there hasn't been a bigger revolt against income inequality in America. 

The cut to the nation’s Supplemental Nutrition Assistance Program going into effect today will take food away from 47.7 million Americans who need it.

The Pew Charitable Trusts blew a major opportunity to condemn the exploitative practice of payday lending when it issued a major report on this issue a few days ago -- the culmination of over two years of careful research. 

Payday lenders have found a powerful friend in the Pew Charitable Trusts. In a recent report on payday lending -- the culmination of two years of work -- Pew embraces reforms to this industry that would still allow the poorest Americans to be charged annual interest rates in the triple digits. 

This mentality is all too pervasive, even though it is repulsive both as a matter of public policy and as a moral value.

Congress resolved the shutdown and debt ceiling crisis (for now) by agreeing to hash out a budget agreement by mid-December. Already, hopes are dim. Budget experts say that if any deal at all is worked out to replace the deep budget cuts that went into effect in March, the most likely outcome will be a short-term plan involving slightly less severe spending cuts—but with no new revenue, a big Democratic priority.

Many states have underfunded pensions, partially because to the financial crisis of 2007 and partially because of politicians underfunding the pensions. In order to increase returns and close that gap, more pension systems are turning to alternative investments in hedge funds.