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By Rachel Goldfarb, originally published on Next New Deal

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Time to Bring Back the Public Option — Medicare in All Exchanges (The Hill)

Roosevelt Institute Senior Fellow Richard Kirsch says that as the discussion of Obamacare shifts from repeal to reform, the first improvement should be expanding access to Medicare coverage.

Ken Burns: Go Ahead, Campaign on the Affordable Care Act (U.S. News & World Report)

Nikki Schwab reports on Ken Burns's remarks on today's big policy issues at the "Inequality Begins at Birth" conference, where he screened his upcoming documentary about the Roosevelts.

Republicans Just Killed Elizabeth Warren's Plan to Ease Americans' Crushing Student Loan Debt (MoJo)

Senator Warren's bill would have allowed borrowers to refinance at lower interest rates, writes Patrick Caldwell. Republicans filibustered over the cost, but the bill would have reduced the deficit.

U.S. Economic Recovery Looks Distant as Growth Lingers (NYT)

Binyamin Appelbaum reports on the government's reduced expectations for annual growth, which are leading some economists to wonder whether the economy can ever fully rebound.

What the Foreclosure Crisis Looks Like in Urban Neighborhoods with Few Single-Family Homes (WaPo)

When foreclosure hits neighborhoods filled with small apartment buildings, it reduces cities' already limited supply of affordable rental stock, says Emily Badger.

New on Next New Deal

Do Taxpayers Care if Student Loans Are Paid Off Too Quickly? (On Fair Value Accounting)

Roosevelt Institute Fellow Mike Konczal argues that while private lenders might not like it when student loans are paid off ahead of schedule, the public shouldn't worry about it.

Originally posted to Daily Kos Economics on Thu Jun 12, 2014 at 05:13 AM PDT.

Also republished by Daily Kos.

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Comment Preferences

  •  "The Downward Ramp" by Thomas B. Edsall (1+ / 0-)
    Recommended by:

    "New evidence  demonstrates that the collapse, between 1980 and 2000, of mid-level, mid-pay jobs — gutted by automation or foreign competition (and often both) — has now spread to the high-skill labor market. The U-shaped pattern of job growth characteristic of recent decades – strong at the top and bottom, but weak throughout the middle — has now become “a bit more like a downward ramp.  College graduates are forced to take jobs beneath their level of educational training, moving into clerical and service positions instead of into finance and high tech. This cascade eliminates opportunities for those without college degrees who would otherwise fill those service and clerical jobs. "

    "Insofar as men and women are pushed into jobs that pay less and provide less satisfaction, their hostility to both those above them and those below them is likely to intensify.  Competition in the workplace is likely to become increasingly pervasive, and backlash over affirmative action policies benefiting minorities and women threatens to mobilize futher political reaction."

    You Don't Happen To Make It. You Make It Happen !

    by jeffrey789 on Thu Jun 12, 2014 at 06:39:07 AM PDT

    •  continued (1+ / 0-)
      Recommended by:

      "The other possibility – the option pressed by the Economic Policy Institute – is that government will intervene with policies to remediate stagnant or eroding wages. (I doubt it, they want US wages to fall)

      The decline of opportunities for the college-educated may, paradoxically, offer those on the economic left a glimmer of hope. College graduates stuck in an employment trough are, in many cases, the children of the upscale Democratic elite – a constituency historically more concerned with social and cultural issues than economic ones.

      This cohort is often more sympathetic to the problems of educated professionals than those of day laborers. If their children begin to face hurdles similar (although of course hardly identical) to those confronting manual and semi-skilled workers, interest in a more activist government may grow even as the question arises: Can policies be developed to counter adverse employment trends?"

      You Don't Happen To Make It. You Make It Happen !

      by jeffrey789 on Thu Jun 12, 2014 at 06:44:30 AM PDT

      [ Parent ]

  •  What's to fear? (2+ / 0-)
    Recommended by:
    Egalitare, ratcityreprobate

    Regarding the question, "Do taxpayers care if student loans are paid off early?" The answer is clearly, "What's to fear?"

    When students are able to pay off their student loan debt early, say by refinancing the terms of their loans, then that puts more money in the hands of young college graduates.  It allows them to go out and hopefully find a good job for which they are a good match (as opposed to just taking any work to pay down debt).  Young people are able to actually move out of their parents' homes and start their own lives.  They buy cars and homes.  They start families. Young people are more than willing to spend their money on tech-savvy products like SmartPhones, IPods, IPads, etc.  And, when they can afford it, college grads are still willing to spend money on entertainment and leisure activities like movies, music, sports and books.  

    And who benefits from the extra spending money these young people have in their pockets each month from paying off their student loans early (besides, of course their patents, who no longer have their adult children living in their basements)?  We, the taxpayers do.  Every time these young people spend money in their communities - buying clothes, groceries, a house, car, iPod, phone, etc., they are stimulating the local economy.

    It is ironic that Senate Republicans would filibuster a bill that if passed, would  provide a more positive successful trickle down economy than anything the Republicans have ever supported.

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