Media

The affluent tend to hold a different vision of a just society than the public at large, and it is that vision which tops the political agenda in Washington and in state houses across the country.

As grim as the GOP's long term prospects are demographically, things could still get worse. Like, for instance, Republicans could alienate the one last slice of the population that remains firmly in their camp: old people. 

One of the remarkable -- and depressing things -- about the low-wage economy is how small changes in wages can make a big difference. 

If you're a professional, you probably don't even know how much money you make an hour. But low-wage workers know, down to the penny. And what may seem like small change to wealthier people can make a big difference in their spending power -- which, in turn, affects the econony as a whole. 

The most recent charge in Senator Chuck Grassley’s (R-Iowa) crusade against rising tuition costs was in late February when he criticized then nominee for Secretary of the Treasury Jack Lew for the benefits he received from New York University. They totaled $1.4 million over a period of four years.

For fans of conservatives’ favorite teller of “hard truths,” the Path to Prosperity budget proposal released by Rep. Paul Ryan this week must have been a disappointment.

Middle-income Americans age 50 and older are now carrying more credit card debt on average than younger people, according to a 2012 study released by Demos. This is a reversal of the findings from the Demos survey which took place in 2008.

The economy plummets. You lose your job. Soon, you start to find it hard to make ends meet. You start putting things on your credit card. Then you fall behind in your card payments. All the while you’ve been desperately looking for a new job. Little do you know that being behind on credit card payments may stand between you and a job – the very thing that could get you back on the road to financial health.

This morning the Senate Banking Committee will hold a hearing on the nomination of Richard Corday  to lead the Consumer Financial Protection Bureau. On the merits, Cordray should breeze through.  The politics, however, are destined to be thornier.

Increasingly, states and municipalities are stepping in to fill the federal void on regulating and banning fracking. California has at least eight bills looking to regulate and/or tax fracking operations. Vermont became the first state to ban the practice.