“Punting the Pundits” is an Open Thread. It is a selection of editorials and opinions from around the news medium and the internet blogs. The intent is to provide a forum for your reactions and opinions, not just to the opinions presented, but to what ever you find important.
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David Dayen: New student loan “fix” is a sham
Congress may claim its latest compromise will lessen your burden – but read the fine print and the truth comes out
or all the talk of Congress supposedly working to “fix” the student loan crisis, it’s actually on the verge of making the battle over the loans’ interest rates worse. A long-term compromise under discussion will allow the government to actually extract more money from borrowers over the long term – while doing nothing to reform the terrible terms of student loans, mitigate the crisis for current borrowers, or fundamentally overhaul the broken system of higher education finance. [..]
The point is that the student loan interest rate was really a tiny speck of the massive amount of work that needs to be done to end this perverse system, where 18-year-olds cannot make sensible plans for their own future without burying themselves in debt with no hope of escape. That Congress managed to botch even the interest rate issue does not bode well for tackling the broader problem. If any good can be drawn from it, however, it’s that a movement of student borrowers, aware of the unfairness of the current system, has been activated. Hopefully they can become loud enough that politicians can no longer avoid them.
New York Times Editorial Board: Missing: The Food Stamp Program
“We’ll get to that later.” That was the dismissive answer of Speaker John Boehner on Thursday, when asked if the House would restore the food stamp program it had just coldly ripped out of the farm bill. “Later,” he said, Republicans will deal with the nation’s most important anti-hunger program. “Later,” maybe, they will think about the needs of 47 million people who can’t afford adequate food, probably by cutting the average daily subsidy of $4.39. [..]
The choice made by the House in cutting apart the farm bill was one of the most brutal, even in the short history of the House’s domination by the Tea Party. Last month, the chamber failed to pass a farm bill that cut $20.5 billion from food stamps because that was still too generous for the most extreme Republican lawmakers. So, in the name of getting something – anything – done, Mr. Boehner decided to push through just the agriculture part of the bill.
Self-delusion is a sad spectacle. Watching Republicans convince themselves that killing immigration reform actually helps the GOP is excruciating, and I wish somebody would make it stop.
House Speaker John Boehner’s unruly caucus has been busy convincing itself not to accept or even modify the bipartisan immigration bill passed by the Senate. Rather, it wants to annihilate it. It’s not that these Republicans want a different kind of comprehensive reform, it’s that they don’t want comprehensive reform at all.
Benjamin Todd Jealous: America’s Yawning Racial Wealth Gap
This August marks the 50th anniversary of the historic March on Washington for Jobs and Freedom. Best remembered for Dr. King’s “I Have a Dream” speech, the march served as a catalyst for national action on poverty and economic injustice. Though we have seen progress since 1963, the economic component of King’s civil rights agenda remains very much unfinished. Today, the gaping economic disparities between the rich and the rest in the United States are even more pronounced for African-Americans.
Since the 1980s, as inequality has increased dramatically in the United States, there has been a steady increase in the racial wealth divide. Before the Great Recession, middle- and high-income African-Americans saw their levels of wealth stagnate or decrease, while middle- and high-income whites their wealth increase over the last 30 years. Since the beginning of the Great Recession in 2007, the gap has only widened. On average, white families have more than $113,000 in wealth, whereas African-Americans have an average of less than $5,700.
David Sirota: How Cash Secretly Rules Surveillance Policy
Have you noticed anything missing in the political discourse about the National Security Agency’s unprecedented mass surveillance? There’s certainly been a robust discussion about the balance between security and liberty, and there’s at least been some conversation about the intelligence community’s potential criminality and constitutional violations. But there have only been veiled, indirect references to how cash undoubtedly tilts the debate against those who challenge the national security state.
Those indirect references have come in stories about Booz Allen Hamilton, the security contractor that employed Edward Snowden. CNN/Money notes that 99 percent of the firm’s multibillion-dollar annual revenues now come from the federal government. Those revenues are part of a larger and growing economic sector within the military-industrial complex – a sector that, according to author Tim Shorrock, is “a $56 billion-a-year industry.”
Ralph Nader: Shame on Walmart!
When one considers Walmart’s company slogan — “Save money. Live better.” — it almost seems as if they are referring to their corporation’s big shareholders — the super-rich Walton family — rather than their employees or the communities they squeeze. After all, Walmart is the same company that has recently made headlines for firing workers for verbally protesting against unfair wages and lack of health care benefits. This situation forces Walmart employees to work second jobs or rely on government assistance to make ends meet.
According to a recent report from the U.S. House Committee on Education and the Workforce, the low wages provided by a single Walmart store costs taxpayers upwards of $1 million in governmental support for those workers and their dependents. “The report finds that a single 300-employee Wal-Mart Supercenter in Wisconsin may cost taxpayers anywhere from $904,542 to nearly $1.75 million per year, or about $5,815 per employee. Wisconsin has 100 Wal-Mart stores, 75 that are Wal-Mart Supercenters.”
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