Before Congress broke for its August recess, the Senate passed and the House approved a bill that rationalized the student loan process. The bill gave students certainty on the rates that they will pay on the educational loans that they receive. In spite of this, students remain alone on a number of issues that affect them and their future. These include: the increased cost of a college education; decreased financial assistance; reduced employment opportunities and/or underemployment upon … [Read more...]
Articles
Frank blogs regularly for the Huffington Post and writes occasional columns and articles for publications such as the International Business Times and The Economic Times of India.
Frank writes on a wide variety of topics that are critical to shaping the future of America and the American dream and to making the United States and the world a better place. These include: Business; education; poverty and inequality; politics and public policy; immigration; manufacturing; innovation; leadership; citizenship; and social commentary.
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Indian IT companies dodge a bullet, for now
WASHINGTON DC: Representatives of Indian information technology companies must have heaved a huge collective sigh of relief and uncorked a bottle of champagne, when US Congress left for an extended recess. With no legislative activities for 37 days, now there is no chance of the Senate version of the immigration bill becoming law for, at least, the next three months. Other than the staunch anti-immigration wing of the conservative movement, few have opposed the Senate bill, which was passed … [Read more...]
Snap, Cackle and Slop!
On June 20, when the House unexpectedly failed to pass a farm bill for the first time in "at least" 40 years, many observers felt that things couldn't get much worse. Then, on July 11, the House passed a farm bill by a narrow margin and they did. That's because the House bill: (1) Did not include any provision for the Supplemental Nutrition Assistance Program (SNAP -- more commonly thought of as food stamps). (2) Passed along the vast majority of its rewards not to the average family farmer … [Read more...]
Detroit has been in economic decline for half a century now
When the city of Detroit filed for bankruptcy, with more than $18 billion owed to over 100,000 creditors, the reactions across the US ranged from sadness and dismay to shock. Until now bankruptcy was reserved for lesser known municipal areas like San Bernardino, California, Jefferson County, Alabama, and Central Falls, Rhode Island —not Detroit, the once proud city that is forever associated with America's automobile industry and popular music. Yet, the bankruptcy filing should not have … [Read more...]
Rights, Patriotism and Service: Fourth of July Reflections
On this Fourth of July, we recognize and celebrate America's birthday and the American Revolution -- a revolution that began in 1775 and that continues today. It is a revolution based on the fact that America as a nation was not created "perfect" but in order to "form a more perfect union." In 2013, we continue to work on that union -- not always perfectly, not always progressively, not always agreeably -- but always in a manner in which Americans of all positions and persuasions can struggle … [Read more...]
India Inc may like changes promised by new US immigration bill in long run
Unless the conservative wing within the House Republican Party succeeds in scuttling it, President Barack Obama is likely to sign a comprehensive new immigration law this summer, the first signature legislation of his second term. The legislation, the second major immigration law in 27 years, will have a far-reaching impact. The potential legalisation of more than 11 million illegal immigrants would, no doubt, raise the living standard of those people and also boost the American … [Read more...]
Remembering West, Texas: Lessons from a Tragedy
The blasts at the two chemical plants in Louisiana a day apart on June 13 and June 14 brought back to memory the explosion in West, Texas approximately two months earlier on April 17. A total of three people and more than 100 were injured in the two Louisiana blasts but there was apparently little collateral damage to the surrounding neighborhoods. In contrast, the explosion at the West Fertilizer Company killed 15 (most of whom were fire fighters and first responders), injured at least 200 … [Read more...]
The Necessity for “Muddling Through” Economics
An old joke goes, "If you laid all the economists in the world end to end, they still wouldn't reach a conclusion." That may no longer be the case. Some of the world's top macro-economists convened in a conference titled "Rethinking Macro Policy II" by the International Monetary Fund in April of this year generally agreed on one thing. They concluded that the existing macro-economic models did not do a good job in predicting or preventing the financial crisis of 2008-2009 nor in stimulating … [Read more...]
Minimum Wage, Maximum Dissent
Given the reactions that President Obama got after he proposed raising the minimum wage to $9 an hour in his State of the Union address, he must have felt a little like comedian Rodney Dangerfield. He just didn't get any respect. And that was from the left and the right. Those on the conservative side criticized the increase as a job killer and harmful to small business. Those on the progressive side criticized the increase as insufficient and too small to be meaningful. From the right, … [Read more...]
Will We Have Another?
The 144th Belmont Stakes was run on Saturday, June 9, but without I'll Have Another, the Triple Crown contender, who was withdrawn from the race because of tendinitis. That raised the question in our mind, "Will we have another?" No, not a racing Triple Crown winner. We are confident that another champion horse will come along to claim that title -- even though there hasn't been one for more than 30 years since Affirmed won in 1978. Our question relates to a different type of race: that among … [Read more...]