FROM Paul Kiel
New tax bill, old inequalities The Republican tax bill offers most American taxpayers a cut in the short-term. But analysts claim that it will only worsen America’s income inequality crisis, one that is demarcated along racial and ethnic lines.
Is the Bank Bailout Still Going On? Four years after the Toxic Asset Relief Program , America's twelve biggest banks are bigger than ever — and still protected by the guarantee of taxpayer money. Even a member of the Federal Reserve says they need to be broken up before increasingly risky investments provoke another financial crisis. TARP, supported by both the Bush and Obama Administrations, was supposed to provide foreclosure relief for abused homeowners, but a pending settlement is now being described as "another gift to the banks." We hear about the consequences, intended and otherwise, of government action to "save the economy."
Homeownership and the Fading American Dream In the aftermath of the housing market collapse and the sub-prime mortgage scandal, President Obama promised help for millions of homeowners trying to avoid foreclosures. That hasn't happened. We hear what's going wrong and what it could mean for the future.
Homeownership and the Fading American Dream Since the Great Depression, the US government has encouraged home ownership, most conspicuously with the homeowner's tax deduction. In the aftermath of the housing market collapse and the sub-prime mortgage scandal, President Obama promised help for millions of homeowners trying to avoid foreclosures. Now six million Americans are facing foreclosure, but new federal programs may be doing more harm than good. Instead of help with mortgage modification or refinance, desperate homeowners face a blizzard of paperwork and official errors with little or no supervision. Is homeownership all that it's cracked up to be? If not, what are the consequences for the economy and a cornerstone of American culture?
Conflict Between Congress and the Administration Escalates On Tuesday, Attorney General Alberto Gonzales underwent four hours of battering before the Senate Judiciary Committee. Even Republican Arlen Specter called Gonzales' credibility "breached to the point of being actionable." Today, Senate Democrats today called for a special counsel to investigate whether the Attorney General lied under oath. Gonzales is accused of deliberately misleading Congress about Justice Department opposition to the President's plan for domestic spying without warrants. Also today, a Democratic committee subpoenaed Karl Rove to talk about his role in firing US Attorneys. We update the ongoing political warfare between Congress and the White House.
Terrorism and tweets, hate speech and murder Just days before an election, Britain is coping with a rash of deadly terrorism, and Prime Minister Theresa May is on the defensive. And again today, President Trump has tweeted criticism of the Mayor of London. Later, a double murder in Portland, Oregon has revealed the ugly past of a supposedly “progressive” city. One immediate question: is “hate speech” protected by the First Amendment?
The Trump agenda: where's the beef? President Trump says big things are happening. After celebrating a House bill on health care, he doesn’t yet have Senate agreement. With James Comey’s public testimony scheduled tomorrow, the President today tweeted his selection of a new FBI Director. Is the Chief Executive all style and no substance? Later, terror attacks in Iran and conflicting claims about who’s behind them.
Replacing Obamacare: Now you see it… now you don’t As the Senate deliberates replacing Obmacare, health coverage for millions of people is at stake. There've been no public hearings, and a draft measure won't be made public. Is the House version so unpopular that that Senate is hiding a version that looks much the same?
Trump's 'America First' goes missing abroad In the Middle East, President Trump is changing some policies of the Obama Administration—and reversing his own campaign attacks on Islam as a religion that "hates us." We hear about his visit to Saudi Arabia and what's at stake for the rest of his foreign excursion.