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The share of workers without any retirement plan at work has risen dramatically over the past decade. The percentage of workers whose employer did not sponsor any type of retirement plan rose from 39 percent to 47 percent—a 21 percent increase.1 This alarming trend is a call to action for state and local policymakers who want ...
The number 23 million is often loosely used in public debate to mean the number of people “looking for work.” But who does this number count and not count? First, it includes 12.3 million people who meet the official definition of unemployment: jobless workers who are actively seeking work. Second, it includes the 8.3 million ...
The Simpson-Bowles budget balancing plan seems to have become the common-sense standard for dealing with America’s future budget deficits. I’d say this move toward the right is dangerous to the future of the nation and essentially cruel—far more dangerous than the level of the deficit over the next 15 years. The commission, formally known as ...
“Fix the Debt,” as you’ve probably noticed from the Internet ads that are now as ubiquitous as the old Netflix pop-ups, is the newest high-profile effort by Peter G. Peterson and allies to build a public movement for long-term deficit reduction. Fix the Debt appears to be an ambitious public relations and grassroots lobbying effort ...
Supreme Court Justice Samuel Alito gave a very illuminating post-election speech recently to the 30th Anniversary Gala of the conservative Federalist Society. Justice Alito’s remarks to the assembled cream of the right-wing legal establishment — from Robert Bork to Texas Senator-elect Ted Cruz to partners at dozens of big law firms (many of which bring ...
Today’s prolonged economic slump is fundamentally different from an ordinary recession. In the aftermath of a severe financial collapse, an economy is at risk of succumbing to a prolonged deflationary undertow. With asset prices reduced, the financial system damaged, unemployment high, consumer demand depressed, and businesses reluctant to invest, the economy gets stuck well below ...
Center for Economic Policy’s Dean Baker debates AEI’s Jim Pethokoukis on the ramifications of the fiscal cliff (slope) and the merits of raising the tax rate on the 2% as part of a deficit reduction plan.
As analysts continue to pore over the election’s results, there are valuable lessons for those who seek to reform government. Perhaps the most important case study is California’s referendum to abolish the death penalty, where strong fiscal arguments did not sway voters. California is in its worst fiscal crisis. On Election Day, voters approved a ...
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 brinksmanship with ...
One explanation of Mitt Romney’s defeat in the presidential race focuses on the growing demographic diversity of the electorate. The declining share of white men in the voting population clearly had an impact. But another underlying factor – one that reflects economic rather than demographic dynamics – also deserves consideration. The economic interests of capitalists (defined as ...
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