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Stiglitz: U.S. Paying a High Price for Inequality

Stiglitz: U.S. Paying a High Price for Inequality

On Monday, Nobel Prize-winning economist Joseph Stiglitz told a packed crowd at the AFL-CIO headquarters in Washington, D.C., that the United States is paying a high price for the growing inequality facing the country. But, despite the long-thought idea that we have to choose between growth and equality, he said that the two are complements and that we can have both a strong, growing economy and equality.

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Drug Savings Act Would Strengthen Medicare Without Harming Beneficiaries

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Sen. Jay Rockefeller (D-W-Va.) introduced the Medicare Drug Savings Act of 2013 that would produce savings without passing on costs to seniors. 

The act offers a worthwhile alternative to this approach, strengthening the Medicare program’s fiscal footing while shielding beneficiaries from harmful cost-shifting. The Congressional Budget Office (CBO) estimates that restoration of Medicaid-level drug rebates for low-income Medicare beneficiaries would save the federal government $141 billion over 10 years. As federal budget negotiations continue, we urge you to consider the following critical facts:

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AFT President Weingarten Confronts Hedge Fund Tycoon About Pension Attacks

The Masters of the Universe on Wall Street would have us believe that they have attained their exorbitant wealth because of superior intellect and work ethic. Yet, time after time, they prove to us through behavior that could generously be described as ethically challenged that, in fact, they have not become Masters of the Universe by being smarter or harder working than the rest of us.

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Report: Young People Continue to Face Jobs Crisis

Report: Young People Continue to Face Jobs Crisis

In a new report for Demos, Stuck: Young America's Persistent Jobs Crisis, authors Catherine Ruetschlin and Tamara Draut examine the state of the youth workforce in the United States and find that while the overall economy is showing signs of improvement, young workers are still in a state of crisis. The authors warn that if policy isn't changed to address the challenges young people face, "we risk a generation marked by the insecurities of the Great Recession for the rest of their working lives."

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American Crystal Sugar Workers Ratify Contract

Locked-out workers at American Crystal Sugar plants in Minnesota, North Dakota and Iowa will soon be returning to work after they ratified a contract late last week. The company locked out 1,300 workers, members of the Bakery, Confectionery, Tobacco Workers and Grain Millers (BCTGM), in August 2011.

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Current Patriot Coal CEO Agrees with UMWA Claim That Patriot Seemed Designed to Fail

Current Patriot Coal CEO Agrees with UMWA Claim That Patriot Seemed Designed to Fail

As previously reported, the Mine Workers (UMWA) contend that Patriot Coal was set up by Peabody Energy and Arch Coal purposely to fail in order to dump costs associated with retirees who had worked for the two companies. Now Ben Hatfield, the current CEO of Patriot, says that he agrees with UMWA President Cecil Roberts that the creation of Patriot seemed destined to fail. Hatfield was, at the time, CEO of International Coal Group. Patriot recently has filed Chapter 11 bankruptcy in order to shed retiree costs, mostly from Peabody and Arch.

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