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By Tim Price, originally published on Next New Deal

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Obama Budget Reviving Offer of Compromise With Cuts (NYT)

Jackie Calmes reports that the president plans to reissue his final offer to John Boehner from last year's deficit negotiations, including chained CPI and cuts to Medicare, though the GOP is still giving increased tax revenue the full Green Eggs and Ham treatment.

Abolish the 401(k) (Salon)

Michael Lind writes that Social Security was never meant to be the sole source of retirement income, as its critics love to point out, but that means we should be focused on expanding the one program that works, not breaking it so it matches all the other options.

The Urge to Purge (NYT)

Paul Krugman notes that Mellonites who saw the Great Depression as a necessary corrective, like medieval bloodletting, were once thought thoroughly discredited, but conservative commentators have rescued that philosophy from the garbage disposal of history.

The New Telecom Oligarchs (The Nation)

Michael J. Copps writes that Roosevelt Institute Fellow Susan Crawford's Captive Audience offers insightful analysis of a trend that plagued him as FCC commissioner: the Katamari Damacy-like growth of merger-happy telecom giants that roll right over their customers.

Cancer clinics are turning away thousands of Medicare patients. Blame the sequester. (WaPo)

Sarah Kliff reports that cancer clinics are turning away patients whose chemotherapy has become too costly due to the sequester's Medicare cuts. But remember: Barack Obama was exaggerating about the sequester, just like Al Gore is a liar every time it snows.

The McJobs Strike Back: Will Fast-Food Workers Ever Get a Living Wage? (The Atlantic)

Sarah Jaffe looks at the second strike to hit New York's fast food industry in the last six months as workers build on the momentum of recent victories on the minimum wage and paid sick days. If they keep it up, they might even be able to afford to live in their own city.

Young Adults Make Up Nearly Half of America's Unemployed Workforce (Think Progress)

Travis Waldron highlights a new Demos report that finds 10.3 million Americans ages 18 to 34 are either out of work or underemployed, with minority youths and those without a college degree hit especially hard. Stay in school, kids. Forever, if at all possible.

Wages of young college graduates have failed to grow over the last decade (EPI)

Heidi Shierholz reports that instead of increasing by more than 19 percent like they did from 1995 to 2000, wages for young college grads did that other thing where they shrank by 7.6 percent between 2007 and 2012. Sorry about your future, class of 2013.

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


Originally posted to Daily Kos Economics on Fri Apr 05, 2013 at 06:41 AM PDT.

Also republished by Daily Kos.

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Comment Preferences

  •  Cuts to the chase? (3+ / 0-)
    Recommended by:
    blueoasis, rbird, Sunspots

    More like cuts the Democratic Party's throat.

  •  Obama can't help himself, he wants the GOP to (0+ / 0-)

    LIKE him.  He believes we have no other choice, he is WRONG.

    •  Obama wants his wealthy donors to LIKE him (2+ / 0-)
      Recommended by:
      rbird, Sunspots

      because he wants to be the first billionaire ex-president.

    •  Progressive Democrats (2+ / 0-)
      Recommended by:
      rbird, Sunspots

      might as well write off the president as an ally, just as the president needs to write off the hope that Republicans will ever like him - they won't.

      If Obama cuts SS benefits (no matter how he does it), he'll hand Republicans control of the federal government by demoralizing Democratic voters to the point they have no motivation to vote, much less work to elect more Democrats for the foreseeable future.  If he makes cuts to Medicare that results in seniors' no longer being able to afford health care, his legacy will be one of infamy.  

      Apparently he doesn't care about either future Democrats or his legacy.

      "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 Fri Apr 05, 2013 at 12:21:39 PM PDT

      [ Parent ]

    •  You really believe that? (0+ / 0-)

      In my book, Obama just smoked out the GOP by even hinting at his budget. Boehner immediately issued a statement yelling at him for "holding entitlement cuts hostage to raising taxes."

      If that seems perfectly normal and acceptable to the DC GOP, it will not appear so for the rest of the nation.

      It reveals that the GOP's one and only desire is to cut entitlements, and its one and only policy is to cut taxes.

  •  political reality (4+ / 0-)
    Recommended by:
    tardis10, rbird, Sunspots, AoT

    Hiring disappointed last month partly because of sequestration--will Obama bring that up in his Saturday address?  Will the Dems advertise this reality--or will they wait for the media to ignore reality.  
    Low interest rates severely weaken your 401k--yet this is never mentioned.  Krugman's ranting for deficit spending is never repeated by Dems because they fear the Mellonites--and thus the Fed must increase its portfolio--and keep interest rates low.
    The country loses when its good pols don't shout louder than do the right wing crazies.  Sadly, advertising and owned media out flank truth.

    Apres Bush, le deluge.

    by melvynny on Fri Apr 05, 2013 at 11:57:50 AM PDT

  •  I did it backwards (1+ / 0-)
    Recommended by:
    AoT

    I worked for 30 years then went to college, after I got sick. I'm fine now thanks.

    I have over 15 years experience in my field and now a freshly frocked fool with a degree.
    I have been looking for work since November and have gotten a grand total of 5 interviews and not one in March. And my internship flaked because of economic reasons. I am in a major metro area as well with 2 ports because I'm in international trade.
    My field moving freight will always tell you the economic truth.

    So happy to be a part of the class of lucky '13

    What do you mean someones at the door?~Bin Laden

    by Max Runk on Fri Apr 05, 2013 at 12:03:28 PM PDT

  •  This is what the destruction of a generation (0+ / 0-)

    looks like. All there is going to be left is service jobs, and hardly those, unless we have useful jobs in this country. We can't live off of information, and we certainly are not going to be able to keep making money off of it at the rate technology is going. We need a plan to rebuild our manufacturing base and soon.

    If debt were a moral issue then, lacking morals, corporations could never be in debt.

    by AoT on Fri Apr 05, 2013 at 02:09:07 PM PDT

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