Blog: The Fine Print / Revenue & Spending
Jun 17, 2015 by Katherine McFate
On May 20, five of the biggest banks in the world pleaded guilty to charges of interest rate manipulation and agreed to pay $2.8 billion in fines for the felonies they committed. Two of the banks, J.P. Morgan Chase and Citigroup, are U.S.-based. Each has a long rap sheet of recent settlements for their corporate misdeeds, and each has paid large fines and settlements -- nearly $35 billion in the case of JP Morgan Chase. But otherwise, these businesses go on with no reduction of rights or privileges and with no decision makers being sent to prison.read in full
Jun 16, 2015 by Janalan Tomita
Student loan debt is now the largest contributor to our country’s overall debt burden. The total amount of student loan debt is now more than $1.2 trillion, and on average, students graduate with $30,000 of debt, which can take 20 years or more to pay off.read in full
Jun 12, 2015 by Jessica Schiederread in full
Jun 8, 2015 by Jessica Schieder
While all eyes are on our national infrastructure funding plan (or lack thereof), something remarkable is happening across the country. Local governments are building innovative transportation systems to respond to 21st century problems. One new trend that stands out is an increase in protected bicycle lanes.read in full
Meet the 25 Hedge Fund Managers Whose $2.2 Billion Tax Break Could Pay for 50,000 Highway Construction Jobs
May 21, 2015 by Scott Klinger
Congress is trying to figure out how to come up with $10 billion to extend funding for the nation’s Highway Trust Fund for a year. Without action, it will run dry at the end of this month.read in full
May 18, 2015 by Scott Klinger
Our country’s once-robust infrastructure has played a vital role in the success of our economy. Roads, bridges, and transportation systems are the heart and blood of commerce and give consumers easy access to goods and services. Our public schools produce the next generation of workers.
Infrastructure has never been a partisan issue in this country; everyone knows it is essential. Unfortunately, paying for these investments seems to have become a partisan fault line.read in full
May 18, 2015 by Guest Contributor
That is the question President Obama posed at the Georgetown University Catholic-Evangelical Summit on Overcoming Poverty on May 12. It was a fascinating discussion -- not least because it was a discussion, with the president exchanging views with two scholars and replying to questions by moderator E.J. Dionne of theWashington Post. The president acknowledged the growing awareness of inequality and poverty. He challenged us to see that over decades, we have been disinvesting in shared institutions (like education) that lift people out of poverty. He agreed with the premise of one of the panelists, Robert Putnam, whose new book Our Kids describes the "withdrawing from the commons" occurring across the nation. Where in decades past affluent, working class and poor children might all have attended the same public school, all able to participate in school sports and music programs, today's communities are far more segregated by class as well as race. The well-off are less likely to send their children to a public school, and fewer have the equalizing experience of sports teams and band because strapped school districts now charge hefty fees to participating students, shutting out some struggling families.read in full
May 16, 2015 by Scott Klinger
To hear some politicians tell it, America’s welfare system is facing a grave crisis: Millions of poor people, they say, are idling away their time eating lobster and relaxing on cruises.
Kansas Governor Sam Brownback, for example, recently signed welfare reform rules banning people receiving public assistance from using their $100 a week in benefits to buy steak or seafood, go to swimming pools, or take cruises.read in full
During Public Service Recognition Week, Remember the Unsung Heroes of Hurricane Sandy: Postal Workers!
May 8, 2015 by Katherine McFate
In 2013, Hurricane Sandy pushed a wall of water into New York Harbor, turning streets into rivers and basements into lakes. A power station on the lower west side of Manhattan was one of the first buildings to flood; the circuits shorted out immediately, plunging much of the city into darkness. Fifteen blocks north, the whir and bustle inside the U.S. Postal Service’s Morgan Processing and Distribution Facility was replaced by the sound of sloshing water, as employees there worked without power under the dim glow of emergency lighting.read in full
May 8, 2015 by Jessica Schieder
Corporations that have reclassified themselves as “foreign-owned” received approximately $1 billion in federal contracts over the last five years. These companies profit from American tax dollars despite avoiding U.S. taxes themselves.read in full