January 2013 Archives

New Hampshire Union Leader
By:  Dave Solomon
January 30, 2013

New Hampshire ranks second in the country overall in the ability of its residents to achieve financial security, according to a 50-state analysis by a Washington-based think tank that used everything from poverty rates to student loan defaults to paint a state-by-state picture of citizen solvency.

The Columbus Dispatch
By:  Mark Williams
January 30, 2013

More than 2 in 5 Ohioans have almost no savings to cover living expenses if they lose their job or have an emergency, according to a report released this morning.

Many Nevadans on financial cliff

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Las Vegas Review Journal
By:  Chris Sieroty
January 30, 2013

Nearly two in three Nevada residents are living on the edge of financial disaster with almost no savings or other assets to weather a financial crisis, the national nonprofit Corporation for Enterprise Development said today.

The Washington Post
By:  Jim Tankersley
January 25, 2013

When it comes to the most important economic challenges facing the nation, President Obama offers soaring rhetoric. He campaigned vigorously against the decline of the middle class. He launched his new term this past week with a speech declaring widespread prosperity to be a deeply American virtue -- and a threatened one.

The Mount Lauren Doctrine

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The New York Times
Editorial
January 29, 2013

The New Jersey Supreme Court's 1983 ruling in the Mount Laurel fair-housing case is rightly regarded as one of the most important civil rights decisions of modern times. The ruling, which greatly influenced fair-housing policy across the nation, limited the use of exclusionary zoning as a means of preventing the construction of affordable housing in wealthy communities.

Reuters
By:  Leah Schnurr
January 29, 2013

Home prices rose in November to rack up their best yearly gain since the housing crisis began, a further sign that the sector is on the mend.

The New York Times
By:  Joseph E. Stiglitz
January 20, 2013

The re-election of President Obama was like a Rorschach test, subject to many interpretations. In this election, each side debated issues that deeply worry me: the long malaise into which the economy seems to be settling, and the growing divide between the 1 percent and the rest -- an inequality not only of outcomes but also of opportunity. To me, these problems are two sides of the same coin: with inequality at its highest level since before the Depression, a robust recovery will be difficult in the short term, and the American dream -- a good life in exchange for hard work -- is slowly dying.

The Huffington Post
By:  Arthur Delaney
January 22, 2013

In almost every major speech during his first term, President Barack Obama has lamented that the American Dream -- in his view, the promise of a good life in return for hard work -- is under threat.

Bloomberg
By:  Jason Lange
January 22, 2013

Home resales unexpectedly fell in December, but the drop was not large enough to suggest the recovery in the housing sector is running out of steam.

The Los Angeles Wave
By:  Olu Alemoru
January 11, 2013

The United Negro College Fund (UNCF) has announced a $3 million donation from Wells Fargo to help more African-American students to attend and graduate college.

Say Campus Life
By:  Matthew C. Keegan
January 2, 2013

The cost of a university education continues to rise, outpacing inflation by at least twice the rate. Affording college is a big concern for parents, especially mothers and fathers of young children, as they wonder how they will afford hefty higher education-related expenses 15 to 20 years out. College scholarships, grants and loans quite frankly may not be enough.

The Boston Banner (CFED)
By:  Earl Ofari Hutchinson
December 27, 2012

President Obama has heard every argument from the GOP, a gaggle of conservative economists and financial analysts on why it's foolhardy to press for a tax hike on the wealthy. They say the hike won't come close to raising the revenue needed to avert the fiscal cliff. They further argue that the hike would stunt business growth and drive the economy into another recession. And if those reasons weren't enough, they assert that the wealthy already pay more than their fair of taxes while millions of Americans on the bottom income rung pay nothing.

Bloomberg
By:  Alex Kowalski
January 17, 2013

The number of Americans filing first-time claims for unemployment insurance payments fell more than forecast last week to the lowest level in five years, pointing to further improvement in the labor market.

Time
By:  Martha C. White
January 17, 2013

When we talk about Americans barely into adulthood who are saddled with debilitating levels of debt, the conversation is almost always about student loan debt. But there's a growing body of evidence suggesting that today's young adults are also drowning in credit-card debt -- and that many of them will take this debt to their graves. 

The Huffington Post
By:  Melinda Emerson
January 16, 2013

Innovation is an important driver of the growth of any economy. In a turbulent economic environment, focusing on the small business economy is a smart move. As we look forward to next week's inauguration festivities, I want to encourage President Obama to make entrepreneurship and innovation the centerpiece of his second term in office. By fostering the next generation of innovators, our economy will continue to stabilize and actually has the opportunity to sustain the United States in our ultra-thin lead as a business leader among industrialized countries. Innovation is about creating value from ideas. What we need is a radically different approach to thinking about fostering innovation in America to improve the sustainability of our country's small businesses. Here are five suggestions for what President Obama should do for entrepreneurship and innovation in America

The Smartphone Have-Nots

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The New York Times
By:  Adam Davidson
January 15, 2013

Earlier this month, Larry Mishel, the president of the Economic Policy Institute, stood at a lectern in a small hotel conference room in San Diego and fiddled with a computer until his PowerPoint presentation flashed on the screen. Mishel then composed himself, paid tribute to his intellectual opponent sitting in the front row and began a speech that, he hopes, will reorient the U.S. economy away from the 1 percent or the 0.1 percent and toward the rest of us.

The Foreclosure Fiasco

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The New York Times
By:  Joe Nocera
January 15, 2013

It's been five days since Jessica Silver-Greenberg's article on the latest bank settlement was posted on The New York Times's Web site. I'm still shaking my head. Her "story behind the story" of the $8.5 billion settlement between federal bank regulators and 10 banks over their foreclosure misdeeds illustrates just about everything that is wrong with the way the government has handled the Great Foreclosure Crisis.

The Washington Post
By:  Michael A. Fletcher
January 15, 2013

A large and growing share of American workers are tapping their retirement savings accounts for non-retirement needs, raising broad questions about the effectiveness of one of the most important savings vehicles for old age.

Reuters
By:  Susan Heavey
January 15, 2013

The number of U.S. families struggling with poverty despite parents being employed continued to grow in 2011 as more people returned to work but mostly at lower-paying service jobs, an analysis released on Tuesday shows.

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