Dig into today's job numbers and you'll find a tale of two Americas.
In one America, unemployment remains at catastrophically high levels. The African-American unemployment rate is 13.2 percent -- a level not seen for the U.S. as a whole since the Great Depression. The jobless rate for construction workers is 14.3 percent.
I thank the committee for this opportunity to present testimony on the IDC’s campaign finance reform proposal. This testimony is submitted on behalf of myself and Miles Rapoport, President of Demos and former Secretary of the State of Connecticut.
What will be more important in coming decades: Countering the rise of Chinese military power in East Asia or building U.S. economic strength here at home?
State officials around the country have spent the last few months bending over backwards finding reasons to accept Medicaid expansion for low-income Americans, refuse it, or try to create a publicly-funded privately managed hybrid. But what do these choices mean for real people?
New York, NY – Today, Maryland Governor Martin O’Malley signed into law landmark legislation that will allow voters to both register to vote and cast a ballot during the state’s early voting period. Twelve states and the District of Columbia now offer Same Day Registration. Senate Bill 279 also adds two additional days to the early voting period, increasing the number from six to eight days to vote prior to Election Day.
The shocking allegations against four more elected officials in New York are depressing — but they provide an opportunity for bold action by our state leaders. Gov. Cuomo has proposed a new, comprehensive campaign finance law, including the creation of a voluntary, small-donor public financing system and an independent enforcement unit.
The journalist Gary Rivlin has a chilling investigative piece in The Nation about the massive assault on the Dodd-Frank Wall Street Reform Act since its passage in 2010. It illuminates the ways of Washington in an era of big money and how passing laws may be one thing, but fully enacting them is quite another when swarms of lobbyists work full-time to throw sand in the gears of government.
This effort could be a game-changer, a way to begin reversing the dangerous concentration of wealth and political power in the U.S. Naysayers will complain that proposals like this are doomed from the start because of the current makeup of Congress, especially the House. But that’s not so. Enhancing the impact of small donors is an important component of a broad, long-term effort to reduce the toxic impact of big money in an era of super PACS, Citizens United and rising inequality. Democrats in the House should be commended for pushing this initiative along.
A recent AARP Public Policy Institute report found that average credit card balances for households over age 75 jumped 31 percent during the recession. A separate AARP report found that boomers - households over age 50 - now have higher overall credit card debt than younger people - a reversal of previous trends.
The average combined balance on all cards in 2012 was $8,278.
Collusion — and conflicts of interest — between politicians and billionaires now operate across borders. When he was president, Nicolas Sarkozy reserved special favours for the Qataris (including a tax exemption on their highest-value property purchases). Qatar is now prepared to back him in starting a private equity fund.
Richard Haass, who leads the Council on Foreign Relations, has a new book out today entitled Foreign Policy Begins at Home in which he argues that the United States needs to get its own house in order to maximize its global power and influence. Haass says the U.S. also needs to avoid getting bogged down in wars of choice that don't involve vital interests, like Iraq.
Nutritional benefit programs can't seem to catch a break. First WIC, which has numerous studies proving its effectiveness in health outcomes for participating mothers and children (not to mention cost savings as a result of participation) is in danger of a 9.3% budget cut as a result of the sequester.
Connecticut has offered a voluntary public financing system for state-wide constitutional and General Assembly offices since 2008. Through financing from the Citizens' Election Fund, candidates that obtain the required number of small donations can receive a lump sum to fund their campaign. The program is very popular and in 2012, 77 percent of successful candidates were publicly financed.
The financial services industry is second to none in dreaming up ways to rip off Americans. Show me a a financial product—credit cards, mortgages, checking accounts, 401(k)s, annuities—and I'll show you a stack of consumer complaints documenting how banks and other firms have sought to bleed dry the American public.
J. Mijin Cha, a senior policy analyst for Demos — a New York City based good government group — and principle author of the report titled "Fresh Start: The Impact of Public Campaign Financing in Connecticut," alongside former Connecticut Secretary of State Miles Rapoport and current Connecticut Secretary of State Denise Merrill, cited significant changes in Connecticut's legislative process since publicly financed campaigns and encourages New York state to pass similar legislation.
Bet if I asked, the odds are good that many people could tell me to the penny what they just paid for a gallon of gas.
So how much did it cost you to invest in your 401(k) last year? I don't know myself. And you likely don't know either.
Over the years, most of us have heard that if we just start saving a few hundred dollars a month in our 20s, we can retire a millionaire. Compound interest is your best friend.
A new report from Mayor Bloomberg's Office of Economic Opportunity shows that parts of New York City are nearly as economically stratified as anywhere in the world.
