March 30, 2014 |
PHILADELPHIA The Philadelphia School District on Friday outlined a litany of academic, financial, and management problems that it said warrant closing the nation's first charter school for students in foster care. District staffers involved with charter-school oversight testified that Arise Academy Charter High School has been beset with problems with truancy, absenteeism, and dropouts. Throughout a six-hour hearing, they said that the school had never met state academic standards and that its 11th-grade test scores rank in the bottom 5 percent among high-poverty schools in the state.
February 14, 2014
THE HOUSE Republican leadership did the right thing Tuesday, allowing the chamber to approve a bill that would raise the debt ceiling for one year unconditionally. The move doesn't end the fight over federal budget deficits and the growing national debt. It just allows the debate to continue without causing needless damage to the economy. Congress committed itself in December to borrow more than the current $17 trillion limit when it adopted a bipartisan budget that included more than half a trillion in deficit spending.
April 30, 2013 |
The policy mystery of our time is why politicians across much of the democratic world are so obsessed with deficits when their primary mission ought to be bringing down high and debilitating rates of unemployment. And since last week saw a cross-party celebration of the opening of George W. Bush's presidential library, I'd add a second mystery: Why is it that conservative Republicans who freely cut taxes while backing two wars in the Bush years started preaching fire on deficits only after a Democrat entered the White House?
April 22, 2013
By Scott S. Powell U.S. stock prices have just reached record highs, erasing the losses since the previous 2007 peak. But the U.S. economy as measured by the labor-force participation rate, which captures the percentage of working-age people in the labor force, has just dropped to a new 34-year low of 63.3 percent. Since the Great Depression, recessions have always been followed by strong recoveries within two years of market bottoms. Not this time. Gross domestic product (GDP) growth from the market bottom in March 2009 has averaged 1.94 percent annually, the worst post-recession rebound in the last 70 years.
May 22, 2012 |
An open letter to Philadelphia Congressional Representatives Bob Brady, Chakah Fattah, and Allyson Schwartz: Important decisions are being made in Congress, giving more money to the military and taking away money from our states and communities. At the same time, Philadelphia City Council and School District are struggling with massive budget deficits. Catastrophe is right around the corner. While there is an effort to cut spending across the broad array of annual discretionary spending programs, Pentagon spending, which comprises 57 percent of the discretionary budget in the FY 2013 request, continues to absorb the lion's share of spending.
February 12, 2012
James Case is the author of Why Can't Obama Fix the Economy? Few would deny that the U.S. economy is badly damaged or that the party with the more plausible plan for fixing it is likely to win the coming election. Yet neither has proposed a plan that realists can believe in. While Republicans advocate yet more tax cuts and deregulation, Democrats propose further stimulus and deficit spending. Both are futile. Tax cuts will fail because they reduce government revenue, thereby necessitating additional layoffs at the state and local levels among police, firefighters, teachers, and others.
July 25, 2011 |
The debt ceiling looms. Confusion reigns. Schemes abound. We are deep in a hole with, as of now, only three ways out: the McConnell plan, the G6 plan, and the half-trillion plan. The McConnell essentially punts the issue until after Election Day 2012 - a good last resort if nothing else works. The G6, proposed by the bipartisan Gang of Six senators, reduces 10-year debt by roughly $4 trillion. It has some advantages, even larger flaws. The half-trillion raises the debt ceiling by that amount in return for an equal amount of spending cuts.
July 21, 2011
The Republicans in charge of the House are showing how badly out of touch they are with the rest of America. Instead of working on a realistic plan that would allow the government to continue paying its bills, the House wants to put the nation in a fiscal straitjacket. The measure it approved Tuesday demands deep spending cuts without any new revenues. But in a transparently cynical move, politically sensitive programs such as Social Security, Medicare, and pay and benefits for soldiers and veterans were exempted.
April 14, 2011 |
WASHINGTON - President Obama on Wednesday began a concerted effort to pull together a budget deal this year, offering up his own $4 trillion plan for taming deficits while admitting he doesn't expect Congress to accept it as is. Obama's plan, a mix of $3 in spending cuts for every $1 in tax increases to shave $4 trillion from deficit spending over the next dozen years, comes on the heels of the Republicans' proposal, which would cut $5.8 trillion...
April 2, 2011 |
How to fix the U.S. economy? Economists and experts can't seem to agree, politicians definitely don't see eye to eye, so then why should Delawareans be any different in their views of this pressing national problem? As President Obama and the newly elected Congress wrangle over the politics of how to get out of this quandry, one thing is clear: It took about 10 to 20 years to get into it and it will take us a while to get out. An expansion in credit, debt, and deregulation over a period of time were all contributing factors to the recession.