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INSTITUTE INDEX: Gang of Six takes from poor, gives to rich


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Cross-posted from the Institute for Southern Studies.

Under the Senate's so-called "Gang of Six"* debt plan unveiled this week, percent of deficit reduction that comes through spending cuts to social programs including health care, education and environmental protection: 100 Amount by which the plan cuts Medicare, the health care program for seniors, over a decade: at least $298 billion

Amount by which it would cut military benefit programs, such as health plans for soldiers and veterans: $80 billion

Portion of the immediate deficit reduction savings outlined in the proposal that would come from reducing Social Security benefits: 1/5

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Republican redistricting strategy limits public input

Cross-posted from the Institute for Southern Studies.

Texas took its newly drawn political maps to federal court this week, asking a panel of judges to review the proposed congressional, legislative and state Board of Education districts for compliance with the Voting Rights Act.

Section 5 of the Act, which bans racial discrimination in voting practices, requires that either the U.S. Department of Justice (DOJ) or a three-judge panel of the U.S. District Court for the District of Columbia "preclear" voting changes in covered jurisdictions, which include much of the South.* The Texas filing said the new maps (the proposed congressional map is shown above; click on it for a larger version) "have neither the purpose nor will they have the effect of denying or abridging the right to vote on account of race, color, or membership in a language minority."

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Doubletake

*UPDATED*Puzzled?

The redistricting debacle intensified this week, with a second round of congressional maps released by the general assembly. Thought things were confusing before? Buckle up for this one, because they released a 3rd set of maps late last night. If they keep this up, we’ll need a new coffee machine.

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Could Rep. Cantor's debt default brinksmanship boost his personal investments?

Cross-posted from the Institute for Southern Studies.

House Majority Leader Eric Cantor (R-Va.) raised eyebrows in Washington last week when he scuttled House Speaker John Boehner's (R-Ohio) efforts to reach a compromise with President Obama to raise the U.S. debt ceiling by the Aug. 2 deadline.

Early in the week, Cantor rejected a budget proposal that had been hammered out in private talks between Boehner and Obama. The talks were an effort to avert the financial crisis that would ensue if the world's largest economy defaulted on its debt for the first time in history.

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Big Banks trying to advance Payday in NC and beyond

This may be news to some people who think payday lending is just small loan sharks who set up shop in poor neighborhoods, but big banks are in on the game as well.  Wells Fargo has a Direct Deposit Advance product which allows for up to a $500 advance based on your next direct deposit.

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