Third World America - Arianna Huffington [93]
50 According to the Federal Reserve: Board of Governors of the Federal Reserve System, “H.8 Assets and Liabilities of Commercial Banks in the United States,” 23 Jun. 2010, www.research.stlouisfed.org.
51 Senator Sheldon Whitehouse’s amendment: “Senate Rejects Credit Card Interest Rate Measure,” Associated Press, 19 May 2010.
52 Or how about payday lending: Gary Rivlin, “The Payday Lenders Confront Their Mortality,” 17 May 2010, www.huffingtonpost.com.
53 It was killed without a vote: Kay Hagan, “Republicans Object to Considering Hagan Payday Lending Amendment,” 18 May 2010, www.hagan.senate.gov.
54 Then there is the Merkley-Levin amendment: Simon Johnson, “Focus on This: Merkley-Levin Did Not Get a Vote,” 21 May 2010, www.huffingtonpost.com.
55 A recent study by Duha Tore Altindag and Naci H. Mocan: Duha Tore Altindag and Naci H. Mocan, “Joblessness and Perceptions About the Effectiveness of Democracy,” National Bureau of Economic Research, working paper no. 15994, May 2010, www.nber.org.
56 especially since one out of every six: Molly Line, “Job Hunt: Blue Collar Workers Struggle Most,” 23 Mar. 2010, www.foxnews.com.
57 Andrew Sum, director of the: Ibid.
58 Economist Jeff Madrick doesn’t think so: Jeff Madrick, “Should We Still Make Things?” 11 Mar. 2009, www.dissentmagazine.org.
59 According to the Hackett Group: Patrick Thibodeau, “Survey: One in Four IT Jobs Moving Offshore,” 9 Dec. 2010, www.computerworld.com.
60 Linda Levine of the Congressional Research Service: Linda Levine, “Offshoring (a.k.a. Offshore Outsourcing) and Job Insecurity Among U.S. Workers,” 2 May 2005, www.fpc.state.gov.
61 And in a 2006 study: Booz Allen Hamilton, “The Globalization of White-Collar Work: The Facts and Fallout of Next-Generation Offshoring,” 2006, www.booz.com.
62 Accenture now employs: Julia Hanna, “How Many U.S. Jobs are ‘Offshorable’?” Harvard Business School, 1 Dec. 2008, www.hbswk.hbs.edu.
63 A June 2008 Harvard Business School study: Ibid.
64 Even more troubling: Booz Allen Hamilton, “The Globalization of White-Collar Work: The Facts and Fallout of Next-Generation Offshoring,” 2006, www.booz.com.
65 “The financial sector,” wrote Martin Wolf: Martin Wolf, “The Challenge of Halting the Financial Doomsday Machine,” 20 Apr. 2010, www.ft.com.
66 By 2020, interest alone: David Brooks, “The Ecstasy of Fiscal Policy,” 1 Apr. 2010, www.nytimes.com.
67 That same year, five segments: Douglas W. Elmendorf, “The Economic and Budget Outlook,” Congressional Budget Office, 13 May 2010, www.cbo.gov.
68 A recent report: John Mauldin, “The Future of the Global Public Debt Explosion,” 2 May 2010, www.businessinsider.com.
69 For instance, in Greece: Bank for International Settlements, “The Future of Public Debt Prospects and Implications,” Mar. 2010, www.bis.org.
70 “While fiscal problems need …”: Ibid.
71 As Mauldin says: John Mauldin, “The Future of the Global Public Debt Explosion,” 2 May 2010, www.businessinsider.com.
72 Mauldin goes on to: Ibid.
73 Princeton economist Alan Blinder: Alan Blinder, “Opening Remarks and Consequences of Current Fiscal Trajectory,” 8 Oct. 2009, www.americanprogress.org.
74 Historian Arnold Toynbee believed that: Arnold Toynbee, A Study of History (New York: Oxford University Press, 1946), 273.
75 Partisanship pop quiz time: Dwight D. Eisenhower, “The Chance for Peace,” speech before the American Society of Newspaper Editors, 16 Apr. 1953, www.eisenhower.archives.gov.
76 No, it was that unrepentant lefty: “Civilian Unemployment Rate,” Federal Reserve Bank of St. Louis, 4 Jun. 2010, www.research.stlouisfed.org.
77 Yet today, while America’s economy: Bureau of Labor Statistics, “Alternative Measures of Labor Underutilization,” Table A-15, 7 May 2010, www.bls.gov.
78 We hear endless talk: Anne Gearan and Anne Flaherty, “War Cost: Obama Wants $33 Billion More for Afghanistan, Iraq,” 12 Jan. 2010, www.huffingtonpost.com.
79 Indeed, during his State