Trump Sets Up Next Great Recession

Trump On Letting The Economy Collapse

The Pathology of the Rich - Chris Hedges on Reality Asserts Itself pt1

Why The Debt Ceiling Isn't Your Family Budget

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Debt Ceiling Fight Isn't Business As Usual

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Dr. Richard Wolff on the Bankster's Great Recession

Five Years Since The Economic Collapse

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Half Of The Jobs Created During The Recovery Were Low-Paying

Half Of The Jobs Created During The Recovery Were Low-Paying: While the economy has seen decent job growth in recent months, the jobs being created may not pay very well. A new report has found that about half of the jobs created in the last three years have been low-paying, reports the Huffington Post’s Mark Gongloff: Nearly all of the 6.2 million jobs created since [...]/p

Is Cutthroat Capitalism Pushing a Growing Number of Baby Boomers to Suicide? | Alternet

Is Cutthroat Capitalism Pushing a Growing Number of Baby Boomers to Suicide? | Alternet
"In winner-take-all capitalism, if your job disappears during a massive sustained job crunch, you will have a hard time finding another one. In fact, the older you are, the more likely you are to enter the ranks of the long-term unemployed (out of work a year or longer)."

The Stock Market’s Rally Drove Income Inequality In The First Two Years Of The Recovery

The Stock Market’s Rally Drove Income Inequality In The First Two Years Of The Recovery: The Great Recession fueled an explosion in income inequality and the economic recovery has carried on the trend. The numbers themselves are staggering, but the causes are also important. A new report from the Pew Research Center finds that not only did the wealth gap between the bottom and the top of the income ladder [...]/p

Obama Proposal Gives Americans A Pathway Back to Work

Obama Proposal Gives Americans A Pathway Back to Work: President Obama’s 2014 budget may have agitated many on both ends of the political spectrum, but the inclusion of the Pathways Back to Work Fund deserves more praise and attention. As millions of Americans are at great risk of being left behind as the economy recovers from the Great Recession, this proposal creates opportunities for [...]/p

11 States May End Long-Term Unemployment Insurance Due To Sequestration

11 States May End Long-Term Unemployment Insurance Due To Sequestration: The federal government’s long-term unemployment insurance program, which became law shortly before the Great Recession began driving the nation’s unemployment rate through the roof, is already facing cuts thanks to the automatic budget cuts that began taking effect on March 1. Sequestration will force 10.7 percent cuts to all benefit checks, costing recipients as much [...]/p

States Cut Higher Education Funding, Increase Tuition To Avoid Raising Taxes

States Cut Higher Education Funding, Increase Tuition To Avoid Raising Taxes: For five years since the Great Recession, states have drastically cut funding for public universities, with long-lasting consequences for the U.S. economy. A new report from the Center on Budget and Policy Priorities finds that every state except North Dakota and Wyoming is spending less per student than before the recession. As a result, students [...]/p

4 Ways the Sequester Worsens the Inequality that Is Killing the Economy | Alternet

4 Ways the Sequester Worsens the Inequality that Is Killing the Economy | Alternet
"Welcome to the vast inane. Today the “sequester” -- mindless, across-the-board cuts of military and domestic spending designed to be abhorrent -- will go into effect. Republicans claimed a “big victory” as House Speaker John Boehner shut down any negotiations and sent the House home.  The cuts will cost jobs and add to the headwinds facing the economy. The sequester will be followed by operatic melodrama over keeping the government open after the end of March and keeping the government from defaulting on its debt beginning in the middle of May.

The deficit is falling faster than any time since the demobilization after World War II, Americans are afflicted with mass unemployment and falling wages, but Washington will be traveling into the vast inane for the foreseeable future."

Deficit Reduction Equals Recession | Common Dreams

Deficit Reduction Equals Recession | Common Dreams
"The math is not difficult. The US has an annual GDP of $14 trillion, and the nation’s current $1 trillion in annual deficit spending is seven percent of its GDP. Growth in GDP has recently been running at about two percent annually (though in the last quarter of 2012 the economy actually contracted slightly). The relationship between deficit spending and GDP growth may not be exactly 1:1 but it’s probably quite close. The conclusion is therefore inescapable: doing away with a substantial portion of deficit spending would reduce GDP by a roughly corresponding amount, almost certainly causing the economy to tip over into recession."

Cost of Financial Crisis Tops $22 Trillion - Truthdig

Cost of Financial Crisis Tops $22 Trillion - Truthdig
"The 2008 financial crisis cost the U.S. economy more than $22 trillion, a study by the Government Accountability Office published Thursday said."

The Richest 1 Percent Have Captured 121 Percent Of Income Gains During The Recovery

The Richest 1 Percent Have Captured 121 Percent Of Income Gains During The Recovery: Last year, economist Emmanuel Saez estimated that the richest 1 percent of the U.S. captured a whopping 93 percent of the income gains in 2010, as the U.S. was emerging from the Great Recession. Saez is now back with updated numbers from 2011, and they make the picture look even grimmer: From 2009 to 2011, [...]/p

If You Don’t Want The U.S. to Be Greece, Forget Austerity

If You Don’t Want The U.S. to Be Greece, Forget Austerity
"See, one of the only reasons why many countries in Europe have suffered so much after the financial collapse has been because, instead of turning towards Keynesian policies that Paul Krugman has begged for, they’ve embraced the Conservative principles that the UK’s Cameron touted. And that decision ushered in very painful austerity measures upon the people of their nations. The effects of those decisions has been a non-existent financial recovery to their economy and an accompanying nightmare to their population."

Presenting America's Top Ten Greediest of 2012

Presenting America's Top Ten Greediest of 2012
"Most of them wear power suits and dart in and out of the executive suites that sit high atop America’s most elegant corporate towers. Year in and year out, these greedy grab ungodly rewards for their own labor — and deny their employees anything close to decent compensation for theirs."

The Recession's Toll: How Middle Class Wealth Collapsed to a 40-Year Low - The Atlantic

The Recession's Toll: How Middle Class Wealth Collapsed to a 40-Year Low - The Atlantic
"I'm about to share a statistic that you should remember every time you think about the Great Recession, and why the recovery has been so painstaking. It's going to illustrate precisely how devastating the downturn was for your typical American family, and the size of the hole we've been trying to dig ourselves out of.

Ready? Here goes: Between 2007 and 2010, the median net worth of U.S. households fell by 47 percent, reaching its lowest level in more than forty years, adjusted for inflation. In other words, middle class wealth virtually evaporated in this country. A good chunk of the population got sucked through a financial wormhole back to the sixties."