A dress rehearsal for Detroit
By Esther Galen, 17 June 2013
Of 21 Michigan cities under emergency managers, none has yet faced as drastic cuts in public services as Pontiac.
By our reporters, 17 June 2013
Workers in Pontiac spoke about their experiences under emergency management.
By Andre Damon, 6 June 2013
The volatility in financial markets reflects the artificial and unsustainable character of the rise in asset prices in the midst of stagnation and slump in the real economy.
By Nick Barrickman, 5 June 2013
Federal regulators announced plans last month to expand an investigation into widespread allegations of illegal credit card debt collection practices by major banking institutions
By Andre Damon, 4 June 2013
The 2008 crisis was seized upon to restructure class relations in the United States, throwing millions into poverty and slashing wages and living standards to enrich the financial oligarchy.
By Dorian Griscom, 4 June 2013
Connecticut’s Democratic governor and state legislature are in the final stages of drafting a state budget that will cut nearly $2 billion in social spending over the next two years.
By Alexander Fangmann, 3 June 2013
The Sun-Times photographers were informed of their layoffs in a profoundly hostile manner despite years, in some cases decades, of work for the newspaper.
By Leon Gutierrez and Trent Novak, 1 June 2013
On Friday, US President Barack Obama unveiled his administration’s proposal for student loan borrowers.
By Andre Damon, 31 May 2013
About 750,000 civilian Defense Department employees began receiving furlough notices Tuesday and will take up to 11 unpaid furlough days starting July 8, amounting to a 20 percent pay cut.
By Nick Barrickman, 30 May 2013
US banks posted a record $40.3 billion in the first quarter of 2013, according to a report by the Federal Deposit Insurance Corporation.
By Julien Kiemle, 30 May 2013
The ultra-wealthy, banks and corporations have some $32 trillion of wealth hidden in off-shore tax havens, according to a leaked cache of information.
By Dan Brennan, 29 May 2013
Hundreds of desperate job seekers queued on the street in New York City for up to six days for the chance to file applications for elevator service and repair apprenticeships.
Third transportation disaster this month underscores US infrastructure crisis
By Marcus Day, 29 May 2013
A train carrying chemicals derailed outside Baltimore, Maryland yesterday afternoon, causing a massive explosion and damaging several surrounding buildings.
By Ruby Rankin, 27 May 2013
The House farm bill includes almost $21 billion in cuts to the Supplemental Nutrition Assistance Program program over the next ten years.
By Andre Damon, 25 May 2013
Not content to merely buy off politicians, banks in the US are increasingly writing the laws that are supposed to regulate them.
By Christine Schofelt, 25 May 2013
A truss bridge built in 1955, the Skagit River Bridge, had been evaluated as “Somewhat better than minimum adequacy to tolerate being left in place as is.”
By Marcus Day, 23 May 2013
According to a new report by the Brookings Institution, poverty rose more than 64 percent in US suburbs from 2000 to 2011.
By Andre Damon, 22 May 2013
Apple CEO Tim Cook used his appearance before the Senate Permanent Subcommittee on Investigations to call for a sharp reduction in corporate taxes.
By Naomi Spencer, 20 May 2013
Nearly 50 Michigan school districts are operating with a deficit.
By Ed Hightower, 18 May 2013
The study predicted increasing wealth inequality for each of five successive age groups as they approach retirement.
By Andre Damon, 17 May 2013
Negative economic figures released this week point to continuing stagnation in the US amidst a worsening slump internationally.
By Naomi Spencer, 16 May 2013
US Defense Secretary Chuck Hagel on Tuesday announced plans to impose 11 days of unpaid leave for most of the Pentagon’s 800,000 civilian employees beginning in July.
By Nick Beams, 13 May 2013
Differences within the G-7 over economic policy are fuelled by the fact that almost five years since the global financial crisis erupted, the world economy is marked by deepening recessionary trends.
By Barry Grey, 9 May 2013
In the midst of the worst economic crisis since the Great Depression, the Dow has gained over 8,500 points, surging nearly 130 percent since it bottomed out in March of 2009.
By Naomi Spencer, 9 May 2013
More than 11,000 American babies die on the day of birth, a number 50 percent higher than all other industrialized countries combined.
By Nick Barrickman, 9 May 2013
The expansion of the “Moving to Work” program will allow states to enact stringent restrictions on eligibility for housing benefits.
By Andre Damon, 8 May 2013
The US Labor Department said Friday that the economy added 175,000 jobs in May, barely enough to keep up with the increase in population.
By Clement Daly, 8 May 2013
Patriot is attempting to use the bankruptcy court to rid itself of obligations owed to more than 1,650 active union miners and 13,000 retirees.
By Kristina Betinis, 6 May 2013
Penny Pritzker, Obama’s nominee for commerce secretary, would be the wealthiest person in US history to serve in the cabinet.
By Marcus Day, 6 May 2013
Heavy-equipment manufacturer Caterpillar has announced more layoffs at its facility in Decatur, Illinois, and the shuttering of an entire plant in Toronto.
By Barry Grey, 4 May 2013
The vast bulk of new jobs are in low-wage service industries or in temporary or part-time positions.
By Andre Damon, 4 May 2013
The official silence on the growth of poverty and social misery stands in stark contrast to the daily struggle of the majority of the US population just to make ends meet.
By a campaign team, 1 May 2013
Residents of the Henry Street apartments, located in Detroit’s Cass Corridor, held a tenants meeting on Sunday to fight the eviction from their homes on May 20.
By John Marion, 1 May 2013
Unemployment figures in the state paint a familiar picture: fewer jobs but a lower official jobless rate because a growing number of workers have given up looking.
By Douglas Lyons, 29 April 2013
The privatization of state-owned liquor stores will result in the layoff of up to 5,000 workers.
By Barry Grey, 27 April 2013
A growth rate of 2.5 percent in the country’s GDP is too weak to significantly impact the jobs crisis.
By Zac Corrigan, 27 April 2013
The percentage of 25-year-olds with student debt has grown by nearly one third, and the average amount owed has risen by 91 percent.
By Lawrence Porter, 27 April 2013
Elderly and handicapped residents of a apartment complex near downtown have been told to leave within a month, and police have begun transporting the homeless outside of city limits.
Timeline of Detroit debt crisis
By Jerry White, 26 April 2013
Detroit is one of many US cities that have taken on crushing levels of debt in response to the Crash of 2008 and to offset cuts in federal aid and state revenue.
By Ed Hightower, 25 April 2013
A Pew report found that the poorest 93 percent of US households saw a four percent decline in net worth between 2009 and 2011, while the wealthiest seven percent saw a 28 percent increase.
By Kate Randall, 23 April 2013
Unpaid furloughs imposed on air traffic controllers will result in flight delays and cancellations at airports across the US.
By E.P. Bannon, 22 April 2013
In addition to unprecedented cuts in Social Security and Medicare, the White House budget targets the Tennessee Valley Authority (TVA), the electrification project created under the New Deal, for sale to private energy firms.
By Jeff Lusanne, 20 April 2013
After record 2012 profits, GE Transportation has announced the layoff of 20 percent of its workforce at its facility in Erie, Pennsylvania.
By Allison Smith and Marc Wells, 19 April 2013
The demographic trends of the past eight years point to a staggering level of social distress in California.
By Andre Damon, 18 April 2013
The International Monetary Fund downgraded its 2013 outlook for the world economy Tuesday amid mounting signs that the global slump is intensifying.
By Lawrence Porter, 18 April 2013
As a result of the sequester cuts signed by President Obama, $150 million will be cut from programs that particularly affect the poor in Michigan.
By Shane Feratu and Jeff Lusanne, 18 April 2013
A large number of companies in Illinois have announced closures and job cuts.
By Andre Damon, 17 April 2013
Amid mass unemployment, swelling poverty rates and falling wages, Wall Street hedge fund operators once again raked in astronomical pay packages last year.
By Kate Randall, 17 April 2013
Nearly a quarter of all those living in poverty in the US are working, but low wages keep them below the federal poverty threshold.
By Bryan Dyne, 17 April 2013
Emergency manager Kevyn Orr is set to select his old law firm, Jones Day, to oversee the restructuring of Detroit’s debt on behalf of the bondholders and banks.
By Andre Damon, 15 April 2013
There is no reflection in what passes for the “news” or the discussions that dominate the political establishment of the concerns of the broad masses of the population.
By J.W. Noeli and Hector Cordon, 13 April 2013
Hundreds of workers involved in the critical cleanup of the Hanford Nuclear Reservation have been laid off, with thousands more to be furloughed.
By Bryan Dyne, 12 April 2013
Detroit city workers and youth are deeply concerned that they will be targeted by the cuts to social services and public works to be carried out by the emergency manager.
By Andre Damon, 11 April 2013
US President Barack Obama unveiled his budget proposal Wednesday, calling for a historic attack on Medicare and Social Security.
By Andre Damon, 9 April 2013
After media reports that the Obama administration plans to slash Medicare and Social Security in its latest budget proposal due to be released Wednesday, government officials have been seeking to diffuse popular opposition to the cuts.
By Kate Randall, 9 April 2013
The effects of the sequestration order signed by President Obama on March 1 began to be felt in earnest beginning April 1.
By Nick Barrickman, 9 April 2013
Up to 15,000 scientists from around the country attended Monday’s rally, which was called by the American Association for Cancer Research.
By Phyllis Scherrer and Samuel Davidson, 8 April 2013
Steubenville recently gained notoriety because of a tragedy last August which resulted in the conviction of two teenage boys for sexually assaulting a 16-year-old girl.
By Clement Daly, 8 April 2013
The American Society of Civil Engineers assessed US infrastructure as “poor” and “at risk.”
A Call to Action
By the Socialist Equality Party, 8 April 2013
For an indefinite period of time, Detroit’s emergency manager, Kevyn Orr, can enact laws, replace all elected officials, deploy the police, rip up contracts and assume all the powers of government.
By Kate Randall, 6 April 2013
The new Obama budget will cut hundreds of billions of dollars from vital programs on which millions of retired and disabled people depend.
Hundreds of thousands drop out of the workforce
By Andre Damon, 6 April 2013
The US economy created 88,000 jobs in March, far less than had been expected, as $1.2 trillion in sequester cuts began to take effect.
By Kevin Martinez, 6 April 2013
Following the $4 billion acquisition of the parent company Lucasfilm by the Walt Disney Company, all current projects and staff at Lucas Arts have been suspended.
By Lawrence Porter, 6 April 2013
Dan Gilbert, the multi-billionaire owner of Quicken Loans, has unveiled a plan to gentrify downtown Detroit with the aid of the newly installed emergency manager.
By Kate Randall, 5 April 2013
Medicare patients are being told to seek cancer treatment at hospitals, where it will be more expensive and accessibility is not assured.
By Bill Van Auken, 3 April 2013
The report that the wars in Iraq and Afghanistan will end up costing as much as $6 trillion is another indication of the terrible price paid by working people the world over for the crimes of imperialism.
By Bryan Dyne, 3 April 2013
Jones Day, the law firm where Kevyn Orr worked before becoming Detroit’s emergency financial manager, has been retained by the city of Detroit as its “re-structuring counsel.”
By Hector Cordon, 3 April 2013
The communications company, owned by global giant Deutsche Telekom, is currently preparing for a merger with Dallas-based MetroPCS.
By Gabriel Black, 2 April 2013
A federal bankruptcy judge ruled on Monday that the city of Stockton, California could proceed with the largest municipal bankruptcy in US history.
By Eric London, 1 April 2013
The crowd of 300 watched in anger as the large pile of fresh groceries was thrown into dumpsters and carted away to rot in a nearby landfill.
By George Marlowe, 1 April 2013
A deadly fire in Sherrard, Illinois killed five people in a double-wide mobile home.
By Andre Damon, 30 March 2013
Bernard Madoff, who admitted in 2009 to running a multibillion-dollar Ponzi scheme, has charged that the government-appointed trustee for his firm’s investors is ignoring evidence of major banks’ complicity in his activities.
By Kate Randall, 29 March 2013
Enrollment in the food assistance program has increased by 70 percent since 2008, driven by a stagnating job market and rising poverty levels.
By Jerry White, 29 March 2013
Powerful financial interests are using Detroit as a test case for imposing deeply unpopular measures in line with what is occurring in Cyprus, Greece and other European countries.
Protest against school closures in Chicago
By Jeff Lusanne and Shane Feratu, 29 March 2013
The school closure plan—one of the largest in US history—is the direct outcome of the CTU's betrayal of the teachers strike.
By Andre Damon, 27 March 2013
The Democrats’ passage of a bill that makes the US sequester cuts permanent this year underscores their support for slashing social spending.
By Niles Williamson, 26 March 2013
Many elderly Americans are being forced out of retirement or are working well into their retirement years to cover their debts, living expenses, and health care needs.
By Kate Randall, 25 March 2013
The Democratic proposal contains $975 billion in spending cuts, including $275 billion in new cuts to Medicare and Medicaid.
By David Brown, 25 March 2013
Sequester cuts are forcing the closure of 149 air traffic control towers in mid-sized airports.
By Larry Porter and Bryan Dyne, 25 March 2013
Detroit’s City Council and union bureaucrats declared that the financial takeover of the city was racist, even though the emergency manager himself is black.
By Naomi Spencer, 25 March 2013
Some 2,200 health care workers at hospitals in the Appalachian region could strike by April 1.
By a WSWS reporting team, 23 March 2013
The six-year sellout agreement is aimed at locking in place the automatic deduction of union dues from workers’ paychecks.
By Naomi Spencer, 23 March 2013
A financial filing revealed that the department store chain quietly cut 27 percent of its workforce last year.
By Andre Damon, 22 March 2013
As the US government prepares to furlough one million federal workers and slash tens of billions in social spending, corporate executives in the United States are taking some of the highest payouts in history.
By Andre Damon, 21 March 2013
The US Senate passed a “continuing resolution” bill to fund the US government through September, while paving the way for the implementation of furloughs for about 1 million federal government employees.
By Adam Sagitov and Nick Barrickman, 21 March 2013
An audit by the emergency worker’s union exposed yet another attempt by the city government to undercut safety funding.
By Kate Randall, 20 March 2013
Confidence in a secure retirement is at a 23-year low in the US, as workers struggling to pay for basic necessities are unable to put aside adequate savings.
By John Marion, 20 March 2013
The sequester cuts will hit research jobs as well as a wide range of social welfare programs.
By Steve Filips, 20 March 2013
For nearly 63,000 people covered under the Kodak pension plan, the company's plan to survive bankruptcy means an uncertain future.
Hundreds of thousands face unpaid furloughs
By Andre Damon, 19 March 2013
As the US government prepares to furlough hundreds of thousands of federal employees, Congress is moving to make $1.2 trillion in spending cuts implemented under the sequester process permanent.
By Barry Grey, 18 March 2013
The financial malefactors have been rewarded with ever greater public funds to subsidize record profits, executive bonuses and stock prices
By Shannon Jones, 16 March 2013
Detroit’s new emergency manager is a ruthless defender of corporate interests
By Andre Damon, 16 March 2013
President Obama continued his closed-door meetings with congressional leaders, calling for deep cuts to the core social programs, Medicare and Social Security.
By Barry Grey, 16 March 2013
The report demonstrates that nothing has changed on Wall Street since the financial meltdown that was triggered by rampant speculation and illegality on the part of the banks.
By Kate Randall, 15 March 2013
The sequester will result in hundreds of thousands of layoffs, benefit cuts to the long-term unemployed, cuts to nutrition and mental health services, and reduced funding for research, disease prevention and national parks.
By Andre Damon, 14 March 2013
While the media is once again seeking to create the appearance of deep and fundamental conflicts—with endless talk of congressional “gridlock” and the “partisan divide”—there has never been greater bipartisan agreement on basic policy.
By Andre Damon, 13 March 2013
Less than two weeks after the start of $1.2 trillion in budget cuts, President Obama has pressed Democrats to agree to far deeper cuts in social programs, including Medicare and Medicaid.
By Usman Clemens, 13 March 2013
There is growing anger among workers and youth over Michigan governor Rick Snyder’s impending appointment of an emergency manager over the city
By Joseph Kishore, 12 March 2013
At a Senate Judiciary Committee last week, US Attorney General Eric Holder declared that major financial institutions engaged in criminal activity are too big to prosecute.
By Nancy Hanover, 11 March 2013
Student loan debt securities are in hot demand from investors, as student debt levels reach new highs. Sequester cuts will add to the burden.