Monthly Archives: November 2013

THE RETIREMENT CRISIS AND SOCIAL SECURITY

ABSTRACT: There is a retirement crisis in America. Both current and soon-to-be retirees are more dependent on Social Security than ever, yet some politicians and corporate executives are arguing that Social Security should be cut. Senator Elizabeth Warren of Massachusetts recently gave a speech in the Senate where (in only five and a half minutes) […]

CHARITY ISN’T THE ANSWER

ABSTRACT: Some people advocate for reducing government spending on social welfare programs by arguing that private charity should and could address social needs. However, when people’s needs are essential and time sensitive, charity is insufficient and undependable. For example, charities won’t be able to fill the $5 billion hole left by the recent cuts to […]

STARVING AMERICA

ABSTRACT: On November 1, federal food assistance to poor Americans was cut by $5 billion. The $78 billion Food Stamps program, officially known as the Supplemental Nutrition Assistance Program (SNAP), currently serves 48 million low income Americans, including 21 million children. This reduction in food assistance from the federal government is equal to the amount […]

US CAPITALISM IS OUT OF CONTROL

ABSTRACT: Of all the developed countries, the United States has the most unequal distribution of income and wealth. 1928 and 2007 were the peak years for income and wealth inequality in the US. In the periods leading up to these two peaks, the wealthy invested and speculated in financial markets. Speculative bubbles were created. The […]

REPUBLICANS OBSTRUCTING NOMINEES AGAIN

ABSTRACT: The Republicans are back to blocking the President’s nominees for judgeships and executive branch positions by filibustering. Currently, there are roughly 90 vacancies for judgeships. In terms of Executive Branch nominees, the Chair of the Federal Reserve and the Secretary of Homeland Security are among those waiting for Senate confirmation. Senate Democrats are again […]