In the past three decades, college costs have risen significantly faster than inflation and are now at roughly 25 percent of the average household's income. This isn't true just for private schools.
The derivatives industry is squeezing Washington like a python. Desperate to control the tone and thrust of derivatives regulation, industry lobbyists have been swarming over the Commodity Futures Trading Commission and the Securities and Exchange Commission, each of which is writing derivatives rules as mandated by the Dodd-Frank reform law.
States are spending less money on public colleges than they did in the past. According to an article in the Chronicle of Higher Education, adjusted for inflation, state support for public colleges and universities has fallen by about 26 percent per full-time student in the last 20 years.
Adjusted for inflation, state support for each full-time public-college student declined by 26.1 percent from 1990 to 2010, forcing students and their families to shoulder more of the cost of higher education at a time when family incomes were largely stagnant, according to a report released on Monday by the think tank Demos.
Here we go again. Another round of the game we call Congressional Creep. After months of haggling and debate, Congress finally passes reform legislation to fix a serious rupture in the body politic, and the president signs it into law. But the fight’s just begun, because the special interests immediately set out to win back what they lost when the reform became law.
Lucky enough to attend college, I sat in a first-year seminar meant to expose students to a variety of both subject matter and viewpoints. To this day I tell people about two books from that course that changed my life. One of those books was the very first overtly feminist book I ever read, Arlie Hochschild’s The Second Shift. This book transformed how I talked about the world and, thus, how I perceived it and engaged it. I became a feminist because caring was a kind of work which was ubiquitous, undervalued, and gendered and, as such, a matter of justice.
This is the fourth interview in the Black History Month series "Perspectives on Black Politics in the Age of Obama." It has been selectively edited for print, but the full audio will be available at wbai.org. The other interviews can be found at demos.org/rakim-brooks.
The young participants in Shake-A-Leg Miami’s Saturday program — mostly kids with physical and developmental challenges — arrive at the aquatic facility in Coconut Grove around noon each week to find some 30 students from MAST Academy waiting for them. Those high school volunteers come to organize kayak rides, basketball games and lunch. Yes, the Shake-a-Leg participants benefit tremendously. But those who gain the most are perhaps the volunteers, themselves.
For going on 14 years, the Florida Republican Party has fiddled and belittled the middle class. It isn't an act of God that's destroying the American Dream; it's petty, self-serving, greedy acts of Man, justified by a perversion of capitalism that's the equivalent of economic rape. Relentlessly, a political, ideological mind-set has been robbing generations of their "pursuit of happiness."
A lesson in how not to reduce gas prices: the White House is backing TransCanada’s bid to build the southern portion of the controversial pipeline Keystone XL pipeline. The section to be built will run from Cushing, Oklahoma to Texas and carry crude oil pumped in the Midwest to refineries in Texas and be completed by late 2013—so it will have virtually no impact on the current high gas prices.
Say you’ve got a booming industry, one that already employs 2 million workers in the U.S. and is poised to add 1.3 million additional jobs by 2020. Imagine that the jobs cannot be off-shored, that the work helps decrease federal deficits, and millions of Americans depend on the industry just to get through their daily lives.
While the attention of Connecticut's legislature has been occupied by the recent budget battles, an even larger crisis has been brewing: retirement security.
We are seeing the results of a radical shift in employer-provided retirement benefits. In the past decade, the percentage of private-sector Connecticut workers whose employer offers a retirement plan has fallen from 68 percent in 2001 to 58 percent today, effectively shutting nearly 650,000 workers out of any workplace retirement plan to supplement Social Security.
And while the quantity of benefits was declining, the quality of those benefits was deteriorating as well.
Warren Buffett once referred to derivatives as "financial weapons of mass destruction" created by "madmen." Real WMD have rarely been used. However, derivatives are used quite a lot, a $600 trillion per year market dominated by a narrow oligopoly of mega-banks. It appears that Italy got hit by the derivatives WMD in January.
Former Goldman Sachs employee Greg Smith wrote an op-ed in yesterday’s New York Times that simmers with pathos. Smith describes the devolution of the culture at Goldman: Whereas in the past, the company worked in the interests of its clients, they are now seen merely as the source of transactional profit, to be manipulated for the benefit of the firm.