FROM Tyler Cowen
US progress stalled because we're too complacent, says economist America is often portrayed as the land of opportunity, where anyone who is willing to work hard can get ahead. It’s a country of innovators, entrepreneurs, and risk-takers. But is that all still true? Economist Tyler Cowen has his doubts.
Is Income Inequality Here to Stay? "All societies are unequal, but some are more unequal than others." So, "why has the US become more so than just about any other rich country in the past 30 years?" That question is raised by The Atlantic's Matthew O'Brien, in the aftermath of new figures released by the same economists who brought attention to the income gap and gave birth to the occupy movement. Those figures show that America's "1%" took more than a fifth of the nation's income last year — and the top 10% got half – something that's never happened in 100 years of data collection. But 99% have failed to see any boost at all from economic recovery. Is it all about Wall Street and the decline of organized labor? What about access to education and the impact of globalization? Steps used in the past to even the playing field aren't popular any more. Will inequality lead to unrest, or are we all just getting used to it?
An Endgame in Sight for Finance Reform As the Senate gets ready to vote on finance reform, The Financial Times has headlined, “Wall Street lobbyists braced for defeat.” Banks are highly unpopular this election year, and some conservative Republicans may join forces with liberal Democrats to crack down. But--even if Goldman Sachs could lose a big chunk of its profits—critics say the reforms deal more with symptoms than causes. Should states get back the authority they once had to protect consumers?
The President and America's infrastructure: Bait and switch? President Trump's $1 trillion infrastructure proposal may not be what it seems. We look at the prospects for much-needed improvements in roads, bridges and airports.
Trump's travel ban and the long-term agenda The Trump Administration's revised travel ban may be good news for some visa holders and others, but it's still being challenged as unconstitutional. Some reporters call it the beginning of a long-term effort to change the demographic make-up of the United States.
CBO: Under GOP plan, millions will lose coverage Republicans are divided and Democrats are saying, "we told you so," when it comes to official estimates of what it will cost to repeal and replace Obamacare. The Trump White House says the Congressional Budget Office is just wrong.
Getting answers on phone taps, Russia and leaking The Directors of the FBI and the NSA testified on Capitol Hill today there's no evidence for President Trump's claim he was wire-tapped by former President Obama. We'll hear about that and the investigation into Russian tampering with last year's presidential campaign.