economy

Homeless Man Commits Petty Crime for Warm Bed

Brian Eastman wanted to spend the night in jail; instead, he faces a fine for drinking in public and still must find away to deal with the cold.
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MI 'Right to Work' Law Doesn't Work, Say Opponents

Opponents of the controversial labor law are citing “incompetence” as the reasoning behind its passage.
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Unemployment At Risk If Congress Doesn't Act

If the Emergency Unemployment Compensation program is not reauthorized, the share of jobless workers receiving unemployment insurance in the United States will likely decrease to approximately one in four.
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Despite Superstorm Sandy Unemployment Rate Drops to 7.7% - Lowest in Four Years

Despite Superstorm Sandy Unemployment Rate Drops to 7.7% - Lowest in Four Years
Great news: The Bureau of Labor Statistics reports that the U.S. economy added 146,000 jobs in November, nearly double the projections. What's more, the overall unemployment rate dropped to 7.7 percent, its lowest point in four years.
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Lame-Duck Session of Congress: Myths and Facts

In the recently convened “lame-duck” session of Congress, senators and representatives will take on a number of issues that could have major consequences for working families and retirees. Congress is considering benefit cuts for Social Security, Medicaid and Medicare and members are looking at cutting taxes for the wealthy even further.
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Conservative Economics Doesn't Expand the Workforce

Conservative economic thought is based on a single simple premise, which just so happens to be wrong. The premise is that if you make sure businesses have as much money as possible, they'll hire more workers. One easy way to do that, they claim, is to lower their taxes.
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The Fiscal Cliff Myth

As President Obama gets closer to making his deal with the Republicans on the budget, the most important thing to keep in mind is that the fiscal cliff is an artificially contrived trap. Were it not for the two Bush wars and the two Bush tax cuts and the House Republican games of brinkmanship with the routine extension of the debt ceiling, there would be no “fiscal cliff.”
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Reprise: Elizabeth Warren on the Social Contract

It's been months and months since Elizabeth Warren made her now-famous remarks on the rich, the social contract, and the role of government. Still, her brief remarks remain the absolute best articulation I've seen of the liberal perspective on the role of government in our economy.
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The Return of Junk Bonds

Junk bonds, also called high-yield bonds, tend to offer higher yields when they pay off but carry significantly higher risk of default. The problem is not the bonds themselves, but the way they tend to be used -- to financed forced takeovers that strip value from the company taken over, to fund the collateralized-debt obligations at the center of the 2008 crash and, as they are being used now, to pay off investors without thought to what they will do to the long-term health of the company.
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NJ Minimum Wage is 'Basically Keeping People in Poverty'

Our Quote of the Day today is via Steve Sweeney:
"If you live in New Jersey, you recognize that $7.25 isn't getting it done. It's basically keeping people in poverty."
Coming up this afternoon in the Senate Budget Committee is a discussion of Sweeney's plan to pass the question of raising the minimum wage to the voters as a constitutional amendment, then continuing on a schedule of raises. Christie, who's spent a year pinning the Jersey Comeback mantle o...
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