Home ownership is often regarded as the key to the American dream, including economic security, accumulating wealth and passing wealth on to the next generation. This is shown by the latest Survey of Consumer Finances, published by the Federal Reserve Board (FRB). In 2001 the median (typical) family that owned its home had a net worth of $171,700. Those without a home had a net worth of only $4,800. Although the typical homeowner is far from wealthy, those without homes have almost nothing to fall back on.
For more than a decade now, the P.U.-litzer Prizes have gone to some of America’s stinkiest media performances each year. The competition was fierce as ever in 2002. Many journalistic pieces of work deserved recognition. Only a few could be chosen.
Opinion As the Bush administration prepares for war in Iraq, the American people should demand a complete assessment of the costs of the war-which go beyond potential military and civilian casualties.
News Analysis “U.S. ASSAILS NORTH KOREA,” screamed the headlines of The New York Times a week ago when the North Korean government announced its decision to withdraw from the Nuclear Non-Proliferation Treaty.
Opinion The headline over a recent article in the Economist proclaimed: “The Future is Texas: If you want to know where America is heading, start by studying the Lone Star State.” It went on to gush about the state’s “incredible ability to make something out of nothing,” its “openness,” (?) and its “creativity.”
Opinion As we celebrate the birthday of the Rev. Martin Luther King this week, tens of thousands of U.S. troops are being deployed to the Persian Gulf for war on Iraq and our country is rocked by an economic and civil liberties crisis.
Opinion Emile Schepers’ Nov. 16 column about the relationship of Zionism and anti-Semitism presented some useful history that stopped just before the founding of Israel under a UN resolution the Soviet Union sponsored in 1947.
Opinion Fortunately for me, my strength to survive is derived from my knowledge of dialectical materialism. Dialectical materialism has proven time and again that when the chips are down, historical events and movements make history turn things around.
The New Year began with environmentalists pressing two separate lawsuits charging the Bush administration with gutting the Clean Air Act and pushing policies that have accelerated global warming that poses a long term threat to life on earth.
The federal government has been operating on stop-gap spending measures ever since Oct. 1 because the House and Senate could not agree on a budget for fiscal year 2003. Instead, Congress passed several “continuing resolutions” that extended 2002 spending levels to Jan. 11, 2003.