U.S. colleges such as Boston University are using financial aid to lure rich students while shortchanging the poor, forcing those most in need to take on heavy debt, a report found. Almost two-thirds of private institutions require students from families making $30,000 or less annually to pay more than $15,000 a year, according to the report released today by the Washington-based New America Foundation. To increase their standing on college rankings, more private colleges are giving "merit aid" to top students, who are often affluent, while charging unaffordable prices to the needy, according to the report.
Although I haven't seen it lately, liberals love to crow about the success of TARP. I was even told by one liberal here that TARP was the best investment that the government could have made because it staved off a depression.
Two Points: Not only did TARP and Fed policy only serve to prop up the rich, for the most part only the money that Bush loaned out has been repaid. Only 10% of the money that Obama loaned out has been repaid compared to 90% that Bush loaned out. read more
Bloomberg: The U.S. economy has recovered for households with net worth of $500,000 or more, a new study shows. The recession continues for almost everyone else. Pew attributed the disparity to gains during that period in the stock and bond markets, benefiting affluent households, while the housing market's decline hit others harder. The report underscores the nation's growing income inequality, with the top 13 percent of households recovering their losses from the 18-month recession that ended in June 2009, and the rest of the country continuing to hemorrhage wealth.
Becoming the first sitting president to address Planned Parenthood in person, President Barack Obama said he'd fight the effort by states to deny women the right to abortion, contraception and other reproductive health services. "When politicians try to turn Planned Parenthood into a punching bag, they're not just talking about you," Obama said at the group's conference in Washington D.C. Friday. "They're talking about the millions of women who you serve. ... The fact is, after decades of progress, there's still those who want to turn back the clock to policies more suited to the 1950s than the 21st century. And they've been involved in an orchestrated and historic effort to roll back basic rights when it comes to women's health." read more
West Virginia Democratic Sen. Jay Rockefeller, one of the towering architects of Obamacare, on Tuesday openly criticized program managers for not moving quickly enough to build the system, warning that if it gets off to a bumpy start it will just get worse.
Decrying the Patient Protection and Affordable Care Act as way too complex, he warned the acting Medicare director that Obamacare is "so complicated and if it isn't done right the first time, it will just simply get worse."