Congress went on recess this week leaving the United States Postal Service financial crisis, unresolved. At midnight tonight, the Postal Service will default on a $5.5 billion payment it owes to the Treasury Department. This default will not have any immediate effects on day-to-day operations at the Postal Service, but it highlights the financial troubles that the institution, which was created more than 200 years ago by Ben f
President Obama will likely become the first ever incumbent President to be outraised by his opponent in his re-election bid. And in a desperate attempt to even the playing field just slightly before November – the President has been forced to hold endless fundraisers. As the Center for American Progress reveals, President Obama has already held nearly 200 fundraisers during his first term in office. To put that in perspectiv
According to an investigation by Democratic Congressman Elijah Cumming – the ranking member on the House Committee on Oversight and Government Reform – for-profit colleges are paying executives massive salaries – not based on student achievement – but instead based solely on profitability. Looking at 13 different for-profit schools – the investigation found, “the single most significant measure for determining executive compensation at t
After it was the first bank to be hit by the Consumer Financial Protection Bureau for defrauding consumers and ordered to pay $165 million to customers in refunds, Capital One was just hit with another fine. This time – the Department of Justice has ordered the bank to pay out $12 million to members of the military for denying them their legal right under the Servicemembers Civil Relief Act to avoid foreclosures and high interest rates.
And one thing’s clear – it’s still an extremely dangerous situation. A Japanese newspaper is reporting that plant operators still face a number of hurdles before they can decommission the plant and officially close the book on the crisis – and it could take decades. Those hurdles include trying to determine why 8 million becquerels of radioactive cesium still continues to pour out of reactor number 2 every single hour.
Civil unrest in America spread to Anaheim last night – where, for the fourth straight day, citizens took to the streets to protest police brutality and the killing the of an unarmed man by police over the weekend. As journalist Tim Pool reported, cops fired hundreds of less lethal rounds of rubber bullets and pepper balls into the crowds – wounding several demonstrators.
In an interview with Current TV on Monday, former NSA senior official Thomas Drake revealed that the NSA is not just monitoring international phone calls and emails as its been given the authority to do, but also domestic calls and emails. As Drake said, “a key decision [was] made shortly after 9/11, which began to rapidly turn the United States of America into the equivalent of a foreign nation for dragnet blanket electronic surveillanc
The shooter in the Aurora theater massacre, James Holmes, purchased more than 6,000 rounds of ammunition in the weeks leading up to the shooting, spending roughly $3,000 on his arsenal. He also purchased a bullet-proof vest and other tactical gear to mimic a SWAT team member, and high-capacity magazines that would have been illegal under the Assault Weapons Ban or any number of pieces of gun control legislation that have stalled out in C
Twelve people are dead and nearly 40 wounded after a gunman opened fire in a crowded movie theatre in Colorado late Thursday night. Moviegoers were attending the premiere of the new Batman movie, when 24-year-old James Holmes walked in with tear gas, a rifle, a shotgun, and two hand guns, and opened fire. Holmes is in police custody.
America likes to think of itself as the richest nation on the planet, and looking strictly at total combined wealth, it is. But that’s only because there are a heck of a lot of billionaires living here. But looking at median wealth, or how much Americans in the middle are making, the United States doesn’t even crack the top ten in the world.