MORNING MESSAGE
Young
Americans face a weak job market, crushing student debt, and an economy in which
their current earnings determine their financial future. These three signs add
up to one stark reality: A nation that prides itself on being the land of
opportunity is closing the avenues of financial advancement for an entire
generation. There are ways to change that, but only if we take action. An
aggressive jobs program for younger Americans, combined with student debt
relief, would certainly help.
Greece Stalemate Continues
Germany
rejects Greece’s request for loan extension. Bloomberg: “The Greek
government is trying to agree bridge-financing without meeting the conditions of
its existing rescue program, German Finance Ministry Spokesman Martin Jaeger
said in an e-mailed statement. European Commission Spokesman Margaritis Schinas
moments earlier had said the Greek letter could be the basis for a ‘reasonable
compromise.'”
European
Central Bank may determine Greece’s fate. NYT: “… aid for Athens lenders
could become more tenuous in coming weeks if political and economic turmoil
pushes them to the brink of failure. Under [the ECB’s] charter, the central bank
is allowed to lend money only to solvent banks.”
Obamacare Continues To Work
Corporations
unaffected by Obamacare, finds Bloomberg: “[It’s] putting such a small dent
in the profits of U.S. companies that many refer to its impact as ‘not material’
or ‘not significant,’ according to a Bloomberg review of conference-call
transcripts and interviews with major U.S. employers.”
Big
Obamacare signup numbers put pressure on Supreme Court. NYT: “The Obama
administration said Wednesday that 8.6 million people in 37 states had selected
or renewed health plans through the federal insurance marketplace, and that most
of them would suffer if the Supreme Court blocked premium subsidies for
consumers in those states.”
Immigration Ruling Is Bunk
“Texas
judge’s immigration ruling is full of legal holes” argues Erwin Chemerinsky and
Samuel Kleiner in LAT oped: “The central argument in Hanen’s ruling is that
the executive branch must promulgate a formal rule to defer deportation of these
individuals. But the federal government constantly sets enforcement priorities
without a formal rule.”
“Obama
set the immigration trap, and the GOP walked in” says Republican Tamar Jacoby in
LAT oped: “Americans aren’t hearing the message about the president’s abuse
of authority. They’re hearing the GOP say it hates immigrants.”
Yet
judge’s ruling may means months of delay. NYT: “A top administration
official said Wednesday it was unclear whether the Department of Justice would
seek an emergency order that would allow the president’s immigration programs to
go into effect while an appeal proceeds … the administration may prefer to file
an appeal rather than an emergency application, though perhaps on an expedited
basis, in an effort to get the merits of the dispute to the Supreme Court as
soon as possible.”
Breakfast Sides
NYT’s
Nick Kristof reverses on unions: “…I disdained unions as bringing
corruption, nepotism and rigid work rules to the labor market …. I was wrong …
The abuses are real. But, as unions wane in American life, it’s also
increasingly clear that they were doing a lot of good in sustaining middle class
life … in recent years, the worst abuses by far haven’t been in the union shop
but in the corporate suite.”
Majority
supports paid sick leave and higher minimum wage, finds AP poll: “Six in 10
Americans favor raising the minimum wage … Six in 10 also favor requiring all
employers to give paid time off to employees when they are sick, while
two-thirds favor requiring all employers to give time off to employees after the
birth of a child.”
California
high-speed rail to fuel American manufacturing. Bloomberg: “California has
set off a global race to supply train cars for the state’s nascent high-speed
rail line, a $1 billion contract proponents say could fuel a U.S. manufacturing
boom worth far more than that … The state’s rail authority expects to order as
many as 95 trains over the next 14 years, making the purchase worth more than $3
billion … The Federal Railroad Administration stipulates that any project on
U.S. soil receiving federal funding must use equipment made in this country,
with parts also fabricated here…”
Progressive
Breakfast is a daily morning email highlighting news stories of interest to
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