Category: Economy
Diary of a Transit Miracle
by Charles Komanoff | Apr 26, 2024 | EconomyA miracle is coming to New York City. Beginning on July 1, and barring a last-minute hitch, motorists will soon pay a hefty $15 to enter the southern half of Manhattan — the area bounded by the Hudson River, the East River and 60th Street. An anticipated 15 percent or so of drivers will switch […]
Trump’s 10% Import Tax — An Economic and Ecological Nightmare
by Steven Pressman | Feb 23, 2024 | EconomyWere awards given for the worst economic idea each year, Donald Trump’s call for a 10% tax on all imports would be the 2023 winner. The tax would damage the US economy as well as propagate climate change and environmental devastation. Trump sees jobs lost to foreign trade as the economic problem facing the US. […]
The Student Debt Debacle: Rising Costs, Decreasing Public Support
by Steven Pressman | Dec 18, 2023 | EconomyCollege debt is approaching $2 trillion, more than all other types of household debt except mortgages. Fueled by tuition that exceeds $25,000 a year (room and board adds another $11,000), Federal student loan debt averages more than $37,000 among those with any student debt. Following a hiatus of more than 3 years, 45 million Americans […]
The Wide Angle: The Resurgence of the 70 Percent
by Dave Troy | Jul 5, 2023 | Economy, The Wide AngleThe debt ceiling standoff revealed the presence of an interesting statistic, hiding in plain sight: 70 percent. The House averted financial disaster by passing a debt ceiling compromise with a vote of 314 out of 435—or 72 percent. The Senate passed its measure 63–36. When the chips are down, Americans overwhelmingly choose stability, sanity, and […]
Kill the Debt Ceiling!
by Steven Pressman | Jun 28, 2023 | EconomyThe debt ceiling—the maximum amount the federal government can borrow—is an anachronistic relic from World War I. Enacted by Congress in 1917, it allowed President Wilson to fight the war without waiting for lawmakers to return to Washington and vote to increase spending. Not wanting to give the president a blank check, Congress limited borrowing […]