Economy

Paul Ryan Speechifies About How He Would Savage the Poor

In a recent diary I asked what kind of person spends his time trying to ruin the lives of old Americans as Paul Ryan and his sponsors in the plutocracy do. Here, I ask, what kind of man kicks people when they are down and has the audacity to claim he is helping them?
Paul Ryan is some "Christian." He showed that once again today. He advocated for the end of poverty programs ...
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Foreclosure Revolt Spreads to East LA

Three occupiers survey the barricade members of Occupy Fights Foreclosures built as part of their efforts to stop the eviction of the Lucero family whose home — commonly referred to now as Fort Lucero — fell into foreclosure after a questionable loan modification.
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Military Commercial Driver’s License Act Encourages Veteran Hire

The Teamsters Union and it’s President Jim Hoffa are applauding the Military Commercial Driver’s License Act of 2012 that was signed into law by President Obama on Friday. The bill will help eliminate obstacles facing military service members who try to obtain commercial driver’s licenses.
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$26,600 in Average Student Loan Debt

Student debt jumped five percent for 2011 graduates compared to the debt load of 2010 graduates. It leaves young adults, typically just 22 years old, carrying an average debt of $26,600 before they even begin their first full-time job.
A rough job market is making things worse for them as 37.8 percent of recent graduates are working in jobs that do not require a college degree. These are low wage jobs and also likely to be part-time employment. The pre...
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Fox & Friends Lose Minds Over Basic Math

Ben Stein, oddly, played the voice of reason on Fox and Friends this morning, explaining that the deficit cannot be lowered without raising taxes on the rich. The Fox and Friends host nearly lose it. This clip from the Majority Report, live M-F at 12 noon EST and via daily podcast at http://Majority.FM
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US Field Oil Production Highest Since 1998

Oil production in the United States, including drilling on federal, state and private land is at it's highest point since 1998 according to EIA.
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Mythology of the Businessman-Politician

Read Greg Sargent's Plum Line blog today, which links to what he calls a brutal dissection from David Stockman on The Daily Beast of Romney's reason for running -- his business experience at Bain Capital. Stockman says:Romney was not a businessman; he...
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Obama Better on Debt Than Reagan

When he claims the president has doubled the deficit, Mitt Romney is an out and out liar.
First, as the graph shows, the President has reduced the deficit. The Red column on the graph represents George W. Bush's contribution to the deficit. But serial liar Romney falsely claims Obama has doubled the deficit.  Not only has the president NOT doubled the deficit, the president has reduced it.
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Democrats Hold Upper Hand As Fiscal Cliff Approaches

Robert ReichThese are awkward days for deficit hawks who believe the American economy can get back to health only if the nation gets its fiscal house in order. If they get their wish, the economy goes over a cliff.Regardless of what happen...
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Consumer Sentiment Rises To Five Year High

Once again, queue the conspiracy theorists! First unemployment drops to 7.8% and the right freaks out, then jobless claims drop and the right freaks out, now we have consumer sentiment reaching a five year high.
"The Thomson Reuters/University of Michigan's preliminary October reading on the overall index on consumer sentiment came in at 83.1, up from 78.3 the month before, marking the highest level since September 2007." CNBC is reporting.
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