Economy

How Much Could States Save By Negotiating Drug Prices? $73 Billion

How Much Could States Save By Negotiating Drug Prices? $73 Billion
State governments could save as much as $73 billion cumulatively over the next ten years if the federal government were to negotiate Medicare prescription drug prices, according to a new issue brief by the Center for Economic and Policy Research.
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Elizabeth Warren: $10.10 Minimum Wage Would Only Cost McDonalds Four Cents Per Meal

Elizabeth Warren: $10.10 Minimum Wage Would Only Cost McDonalds Four Cents Per Meal
Last week, the Senate held a hearing on the minimum wage and a business owner testified that a wage hike may force businesses to fire workers. Sen. Elizabeth Warren (D-MA) deftly dismantled this talking point, pointing out that, for example, it would only cost McDonalds four cents more per meal to provide a $10.10 minimum wage to all of its workers.
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Minimum Wage Workers Working 40 Hours a Week Can’t Afford a Two-Bedroom Apartment Anywhere

Minimum Wage Workers Working 40 Hours a Week Can’t Afford a Two-Bedroom Apartment Anywhere
During his State of the Union address, President Obama unexpectedly called for a hike in the minimum wage to $9.25 an hour, and Congressional Democrats are calling for an even higher hike to $10.10.
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Obama Adviser Gene Sperling Claims Obama Has a ‘Strong Record’ of Prosecuting Wall Street

Obama Adviser Gene Sperling Claims Obama Has a ‘Strong Record’ of Prosecuting Wall Street
During a Reddit question and answer session, top Obama economic adviser Gene Sperling responded to a question from one user about how a “free market economy” can “exist when big actors cheat, break laws, and only get fined.
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Wells Fargo's at the Bottom of the Foreclosure Heap

Wells Fargo's at the Bottom of the Foreclosure Heap
When it comes to foreclosing on Californians, it looks like Wells Fargo may take the prize, where it's responsible for more homes in the foreclosure pipeline in California than any other single lender.
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Who Benefits From the Climbing US Stock Market?

Who Benefits From the Climbing US Stock Market?
While a growing stock market is important not just for the top 1 percent — a lot of pension funds and 401(k)’s get a boost from the bull — the vast majority of the value of the stock market is held by the wealthiest households.
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Deficit Reduction Should Not Increase Poverty and Hardship

Deficit Reduction Should Not Increase Poverty and Hardship
As President Obama and lawmakers of both parties continue to joust over continued federal deficit reduction, they must adhere to a principle that such reductions should not increase poverty or further erode the nation’s safety net, according to a group of analysts at a prominent Washington think tank.
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Costco CEO Supports Raising Minimum Wage to $10.10 Per Hour

Costco CEO Supports Raising Minimum Wage to $10.10 Per Hour
Costco CEO Craig Jelinek has joined the push to raise the federal minimum wage to $10.10 per hour by saying he supports the Fair Minimum Wage Act of 2013, which would not only raise the current wage from $7.25, but would index the wage to inflation and raise wages for tipped employees, too.
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Retirement System, Prevailing Wage Threshold Under Attack in Nevada

Retirement System, Prevailing Wage Threshold Under Attack in Nevada
In Nevada, the state GOP is preparing to push a series of bills through the State Assembly that would make drastic changes to public retirement plans and prevailing wage laws.
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Sequester Cuts Confirm Republicans Are Party of Deadbeat Dads

Sequester Cuts Confirm Republicans Are Party of Deadbeat Dads
It’s a popular analogy among fans of the political game to call Republicans the “Daddy Party” and assign “Mommy Party” to Democratic folk. Deadbeat dads are famous for withholding financial support from children. So Republicans seem to fit the mold here.
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