The latest long term budget projections from the Congressional Budget Office assume that unemployment will be very high for years to come. From the CBO: CBO expects that the recovery will continue but that real (inflation-adjusted) GDP will stay well below the economy’s potential—a level that corresponds to a high rate of use of labor [...]

Now we see one of the reasons the Senate is including student loans in reconciliation — they don’t want to tax rich people (as the House does) so they’re stealing the money from community colleges. The Senate HELP Committee is currently writing the student loan reconciliation bill that the House has to pass (the House [...]

How many community colleges are supposed to shut down, how many kids are supposed to forgo job training and higher education just so JP Morgan can have themselves another bailout good earnings quarter?