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Four Ideas For How Obama Could Really Transform The Cost Of College (ThinkProgress)
Bryce Covert presents four truly transformative ideas, which would have far more effect than keeping student loan interest rates low. She pulls from Roosevelt Institute Fellow Mike Konzcal for her fourth suggestion: make public colleges and universities free.
- Roosevelt Take: In the piece referenced, Mike looked at how much the government spends on loans and related tax breaks, and suggested that the same funds could cover the cost of public higher education outright.
Elderly More Likely to Be Employed Than Teens (WSJ)
Ben Casselman reports that while ten years ago, a teenage boy was twice as likely to have a job as his 70 year old grandfather, today, the grandfather is more likely to be employed. The decline reflects the jobless recovery of the early 2000s and today’s tough market.
- Roosevelt Take: Tonight, join Roosevelt Institute | Pipeline and the Bernard L. Schwartz Rediscovering Government Initiative to discuss tackling youth unemployment in New Orleans.
How Low Can You Get: The Minimum Wage Scam (The Guardian)
Heidi Moore thinks that the problem isn’t just a too-low minimum wage, but a too-low total compensation, including benefits. The nonexistent benefits of low-wage jobs are costing the American government big bucks, while corporate profits skyrocket.
For Retailers, Low Wages Aren’t Working Out (WaPo)
Harold Meyerson looks at the change in how the owners of big retailers consider labor since the 1920s. Back then, retail supported the minimum wage, five-day work weeks, and unions, and retail and labor thrived together.
Two Graphs Showing, Decisively, That Obamacare Is Not Creating a Permanent Part-Time America (The Atlantic)
Derek Thompson examines the data, which proves that part-time work has actually decreased since the Affordable Care Act was passed. The big increase began, rather intuitively, with the Great Recession.
Warren Asks DOJ to Explain ‘Timid’ FHA Settlement (The Hill)
Peter Schroeder reports that Senator Warren finds the settlement between mortgage servicers and the Federal Housing Authority to be shockingly low. The settlement is less than one percent of the maximum liability, and the Senator wants the DOJ to explain their math.
This One Photo From 1998 Includes Everybody Involved in the Fed Chair Decision (WaPo)
Neil Irwin uses a photo of Bill Clinton talking about the economy to demonstrate just how little the Democratic economics team has changed over the years. The only people missing from the photo are Tim Geithner and a certain then-Illinois state senator.
New on Next New Deal
I wrote on the proposed changes to ethical standards for the financial services industry, and why it’s necessary for more advisors to be fiduciaries. Under current rules, most advisors only need to provide “suitable” investment products, and suitable doesn’t been best.