President Trump’s budget director, Mick Mulvaney, made some waves a few weeks ago when he defended cuts to the community development block grant program because “We can’t spend money on programs just because they sound good.” It can be hard to justify spending on things like Meals on Wheels or children’s after school-programs, because their […]

Uber and Lyft are in the news because more than 8,000 potential drivers were banned in Massachusetts after background checks turned up convictions for violent felonies and sex-crimes, uncontested court charges, driver’s license suspensions and traffic violations. Uber and Lyft usually run their own background, and those typically go back seven years. But to get […]

Republicans, including President Trump, have been talking about bringing back Glass-Steagall, the 1930s law requiring banks to separate their commercial and investment banking businesses. Gary Cohn, the president’s economic adviser, reportedly told senators he supports that proposal in a private meeting yesterday, according to Bloomberg. If Glass-Steagall were to be reintroduced, what would that mean […]

Chinese investment in the U.S. sometimes worries some lawmakers. The recent attempt by Chinese investors to purchase Westinghouse Electric’s bankrupt nuclear reactor unit is a case in point. One fear is that the Chinese could acquire sensitive technological secrets in the process. But also, the current high levels of Chinese investment could provide jobs, so […]

Current household debt in the U.S. is at just about $12.6 trillion, according to the Federal Reserve Bank of New York. That’s how much we’re all taking out in loans. It’s 1 percent shy of the 2008 record. Mortgages still make up the largest amount of that debt. But it’s a trillion dollars less than […]