Media

Here's a question for every reader of this post who lives in a major metro area and has at least a college degree: How many people do you know who make under $40,000 a year?

Exclude that artist friend who's husband is in finance. And eliminate younger people still paying their dues. I'm talking about people who really earn under $40,000 year. 

The story of this past election, and really the past several elections, is one of how much money floods our electoral system. The 2012, post-Citizen’s United election was the most expensive election in history and even though 2013 was an off-year election cycle, there was no shortage of spending.

The third quarter GDP numbers were released this morning, which show a GDP increase of 2.8 percent, an increase from the 2.5 percent reported for the second quarter. Among other factors, increases in personal consumption and state and local government spending helped contribute to the increase in GDP. Of course, the state and local spending was offset by a negative contribution from federal government spending.

Who could have imagined, say ten years ago, that gay rights would one day be an issue that progressives could embrace to their political advantage, dividing the conservative world? 

For decades, of course, hot button social issues were used in the exact opposite way: to divide the Democratic coalition, driving a wedge between social liberals and more traditional working class voters. One of the main projects of an entire generation of DLC-type Democrats, most notably Bill Clinton, was to defuse these issues by backing away from strong liberal stances on many issues. 

There's a dire need for a new definition of public goods

Conventional wisdom holds that big city mayors don't have much real power. They wield scant influence over national and global forces that deeply impact America's urban economies—from fiscal and monetary policy to trade and currency policy, and regulation of financial and labor markets. Their powers to raise and invest revenues tend to be limited, with the lion's share of such powers held by state and federal governments.

Public investment is crucial to future growth. The economic boom in the 50s and 60s relied on government investments in education (G.I. Bill), infrastructure (National Highway System) and science (NASA). 

One New York Times article serves as a perfect exposé on the profoundly undemocratic power of wealthy donors have.

Did you hear that America's biggest drugmaker just agreed to one of the largest criminal and civil settlements in U.S. history? No, you probably didn't -- because news of Johnson & Johnson's $2.2 billion penalty for illegally marketing one of its drugs was buried today in the business section.