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By Tim Price, originally published on Next New Deal

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The Next Elizabeth Warren (TNR)

If you've ever been annoyed by your internet provider, return the favor by reading John Judis's profile of Roosevelt Institute Fellow Susan Crawford, who's taking on the telecom giants and fighting to make high-speed internet access as ubiquitous as electricity.

The United States of Sequestration (MoJo)

Timothy Murphy highlights how sequestration has affected all 50 states in the six weeks since its $85.4 billion in cuts began to kick in. From closed Head Start programs to furloughed workers, nothing brings the whole country together quite like terrible policy.

Sequestration 101: If a Budget Cut Doesn't Affect the Wealthy, Congress Won't Fix It (The Nation)

Bryce Covert argues that there's a reason flight delays consumed the media and Congress's attention while other cuts are ignored: Policymakers actually listen to rich people's complaints, whereas everyone else sounds like one of Charlie Brown's teachers.

Meals On Wheels Sequestration Cuts Taking Effect (HuffPo)

Case in point: With Meals On Wheels set to deliver as many as 19 million fewer meals this year due to funding cuts, Arthur Delaney reports that some recipients are actually questioning whether it's worth feeding them if it means that others will go hungry.

Washington's Backward Retirement Policy: So Wrong, and Yet So Easy to Fix (The Atlantic)

James Kwak argues that there would be plenty of money to shore up Social Security's finances without cutting benefits if the government stopped giving it to people who don't need it (and don't particularly care if they get it) in the form of 401(k) and IRA subsidies.

Are Democrats Moving Away from "Debt Crisis" Rhetoric? (Prospect)

Jamelle Bouie writes that instead of offering voters a choice between lots of enthusiastic austerity and a little less regretful austerity, even moderate Democrats seem to be realizing that they're betting off drawing a clear distinction and emphasizing growth instead.

House Republicans Eyeing New Hostage Opportunity (NY Mag)

Jonathan Chait notes that Republicans are once again plotting to force a debt ceiling showdown, but instead of tying it to deficit reduction like last time, they're now demanding a version of tax reform that makes deficit reduction the only thing you can't do.

No Rich Child Left Behind (NYT)

Sean Reardon writes that while the racial achievement gap in education has been narrowing, the income-based achievement gap is widening as rich parents sink more resources into giving their little darlings that leg up that a trust fund alone can't provide.

Tim Price is Editor of Next New Deal. Follow him on Twitter @txprice.

Originally posted to Daily Kos Economics on Tue Apr 30, 2013 at 06:50 AM PDT.

Also republished by Daily Kos.

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Comment Preferences

  •  heh ... (2+ / 0-)
    Recommended by:
    JML9999, Just Bob

    The free market is not the solution, the free market is the problem.

    by Azazello on Tue Apr 30, 2013 at 06:57:45 AM PDT

    •  I've always thought blanketing the country (1+ / 0-)
      Recommended by:
      Just Bob

      in broadband access would be a perfect goal for stimulus spending - that and upgrading the nation's electrical grid.  So much opportunity for investment and employment, going to waste.

      Thank you, Susan Crawford, for your work.

      "In this world of sin and sorrow there is always something to be thankful for; as for me, I rejoice that I am not a Republican." - H. L. Mencken

      by SueDe on Tue Apr 30, 2013 at 08:19:38 PM PDT

      [ Parent ]

  •  Kwak's piece in The Atlantic... (3+ / 0-)
    Recommended by:
    srkp23, SueDe, Icicle68

    ...is elegantly simple.

    All too often, we are told that people "need incentives to save", and he points out that we're just icing a multi-layered cake for a small number of people who were going to save regardless of the existence or magnitude of "incentive."

    When you are right you cannot be too radical; when you are wrong, you cannot be too conservative. --Martin Luther King Jr.

    by Egalitare on Tue Apr 30, 2013 at 07:15:17 AM PDT

  •  not a response to any of the stories (5+ / 0-)
    Recommended by:
    jnww, akmk, Icicle68, Just Bob, Zinman

    in the diary, but relevant to economics...

    Something is very wrong with the system that has been set up by the political/corporate powers...

    Apple has raised $17bn (£10.9bn) via a bond sale, the biggest ever by a non-banking company, to help fund its plan for extra payouts to shareholders.

    Last week, it said it will buy back $60bn in shares, and raise its dividend to shareholders by 15%.

    Apple's bond sale, the first in nearly two decades, comes despite the firm having cash reserves of $145bn.

    However, most of that money is sitting in accounts outside the US and would be liable for US taxes if repatriated.

    At the same time, interest rates in the US are currently near record lows - helping drive down cost of raising funds for companies.

    That makes it cheaper for Apple to raise the money through a bond issue, even though it will attract interest payments.

    From the BBC (emphasis mine).

    "The death penalty is never about the criminal. They've already done their worst. The question is always "will we join them"?" - jlynne

    by Hopeful Skeptic on Tue Apr 30, 2013 at 07:54:03 PM PDT

  •  Snotty much? (1+ / 0-)
    Recommended by:
    Radiowalla

    "rich parents sink more resources into giving their little darlings that leg up that a trust fund alone can't provide.'

    Well, this is an impressive bit of asininity. Unless, of course, the children of well-off parents deserve the snark for being, you know, children of well-off parents, and/or being loved by said parents (how very obnoxious of them!). And, of course, I imagine that parents banding together at the PTA in order to raise money to buy school computers is prima facie evidence that each one of those little darlings must have a trust fund. Not only that, but each one of them has been named Richie Rich and gets served ice cream sodas daily by liveried butlers while they lounge by the pools in their bedrooms.

  •  Since when are IRAs a subsidy to wealthy? (0+ / 0-)
    James Kwak argues that there would be plenty of money to shore up Social Security's finances without cutting benefits if the government stopped giving it to people who don't need it (and don't particularly care if they get it) in the form of 401(k) and IRA subsidies.
     Don't need to earn much salary to qualify for the maximum $5,000 IRA deduction.  And that limit phases OUT with higher earned income if the taxpayer already participates in a separate retirement plan, Eg. 401(k).
     

    My Karma just ran over your Dogma

    by FoundingFatherDAR on Tue Apr 30, 2013 at 08:15:22 PM PDT

  •  Lot of beef in those links above. Need to start (0+ / 0-)

    chewing.

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