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Want A Raise? Sorry, It’s All Gone To CEOs

Posted on May 20, 2012 in Articles

The Article: Study: CEO Pay Increased 127 Times Faster Than Worker Pay Over Last 30 Years by Travis Waldron in ThinkProgress.

The Text: Compensation for chief executives at American companies grew 15 percent in 2011 after a 28 percent rise in 2010, part of a larger trend that has seen CEO pay skyrocket over the last three decades. Workers, on the other hand, have been left behind.

Since 1978, CEO pay at American firms has risen 725 percent, more than 127 times faster than worker pay over the same time period, according to new data from the Economic Policy Institute:

From 1978 to 2011, CEO compensation increased more than 725 percent, a rise substantially greater than stock market growth and the painfully slow 5.7 percent growth in worker compensation over the same period.

FBI: We Need Wiretapping And We Need It Now

Posted on May 19, 2012 in Articles

The Article: FBI: We need wiretap-ready Web sites – now by Declan McCullagh in CNET.

The Text: The FBI is asking Internet companies not to oppose a controversial proposal that would require firms, including Microsoft, Facebook, Yahoo, and Google, to build in backdoors for government surveillance.
In meetings with industry representatives, the White House, and U.S. senators, senior FBI officials argue the dramatic shift in communication from the telephone system to the Internet has made it far more difficult for agents to wiretap Americans suspected of illegal activities, CNET has learned.

The FBI general counsel’s office has drafted a proposed law that the bureau claims is the best solution: requiring that social-networking Web sites and providers of VoIP, instant messaging, and Web e-mail alter their code to ensure their products are wiretap-friendly.

“If you create a service, product, or app that allows a user to communicate, you get the privilege of adding that extra coding,” an industry representative who has reviewed the FBI’s draft legislation told CNET. The requirements apply only if a threshold of a certain number of users is exceeded, according to a second industry representative briefed on it.

The Entrance Of Hollande In The Euro Crisis

Posted on May 18, 2012 in Articles

The Article: Austerity and the euro crisis: Add Hollandaise sauce in the Economist.

The Text: TEN YEARS ago Romano Prodi, the-then president of the European Commission, created a stink when he declared that the euro zone’s budget rules were “stupid” because they were too rigid. But with the onset of the euro zone’s debt crisis in 2010 the response has been to try to make them even stiffer.

At Germany’s insistence, the euro zone first gave the commission more powers to monitor and enforce deficit limits, including the threat of “semi-automatic” sanctions for rule-breakers. And second, almost all members of the European Union were dragooned into signing up to the fiscal compact, a new treaty requiring then to adopt binding balanced-budget rules, preferably in their constitutions.

The election of a Socialist, François Hollande, as France’s new president, is causing a rethink in Brussels. There is certainly a change of rhetoric about a “growth compact”. But in substance, the change may be rather modest.

The Hidden Cost Of Higher Education

Posted on May 17, 2012 in Articles

The Article: Dismantling The Middle Class: The Hidden Cost Of Higher Education by Amanda Richards in The Speckled Axe.

The Text: For decades, education was viewed as the most important step on the path out of poverty and the golden ticket to class mobility in American society. While this may still ring true for those managing on a hand-to-mouth existence, the role of education in securing the continued upward economic trajectory of the middle class is much less certain. Indeed, with rising costs of tuition and cuts in student aid, the debt burden of a college education may be enough to break the middle class.

The American middle class, historically admired for its size and diversity, owes much of its existence to the public universities that made access to higher education available to everyone regardless of socio-economic background. According to Christopher Newfield in his book Unmaking the Public University: The Forty-Year Assault on the Middle Class: “There has never been a middle class in history that was not created by public infrastructure—by facilities offering rough equity regardless of personal means. As the middle class cuts public education, it cuts the conditions of its own existence.”

Since 1980, college tuition has more than doubled. Potential students often must seek outside funding in addition to scholarships, financial aid and parental support. Students used to put themselves through college on part-time jobs, but with tuition averaging roughly $21,000 a year and rising faster than inflation, the prospect of doing it alone is not an option for most – and the alternative has some pretty significant setbacks.

Moderation In Congress: (Surprisingly) Not Dead Yet

Posted on May 16, 2012 in Articles

The Article: Congressional Moderation: Dwindling, Not Dead by Adam Sorensen in Time.

The Text: Dick Lugar’s Tuesday primary loss in Indiana has inspired a predictably large amount of introspection about polarization in Congress. It marked a dark trend, but did it augur the death of all moderation? No. There are certain political realities that still exist for Republicans running in Blue states and Democrats in Red territory.

“Independent,” “beholden to no one” and “working together” are words that appear in this ad; “Republican” is a word that does not. It’s not just talk either. A Congressional Quarterly analysis found Brown voted with his party in opposition to Democrats just 54% of the time in 2011, the second-lowest score in Mitch McConnell’s caucus. If a Republican wants to win re-election in Massachusetts, that’s just the way it’s going to be.

That being said, things aren’t static and Brown doesn’t cancel out Lugar. Nate Silver runs down the full list of falling bodies, but it’s hard to paint a clearer picture than this graph of Howard Rosenthal and Keith Poole’s data on congressional polarization over time: