Stocks head for moderately higher open
NEW YORK – U.S. stocks headed for a moderately higher open Monday following a steep slide last week and as Wall Street searched for any insights that could indicate how consumers are faring amid an economic slowdown.

Many believe US already in a recession
WASHINGTON – Empty homes and for-sale signs clutter neighborhoods. You’ve lost your job or know someone who has. Your paycheck and nest egg are taking a hit.

Countrywide to aid more borrowers
LOS ANGELES – Countrywide Financial Corp., under pressure to help stem growing home loan defaults, says it will expand programs to help borrowers manage their mortgage payments regardless of the type of subprime loan they have or whether they have already fallen behind on payments.

Bush Proposes to Drive Down the Already Low Wages of Farmworkers
The Bush administration’s Department of Labor announced plans to gut regulations governing the nation’s agricultural guestworker program today. The proposed changes threaten to significantly cut farmworker wages, lower the bar on farmworker housing, and diminish government oversight of what is already a troubled program. The agricultural guestworker program has long been criticized by labor economists as an unnecessary and exploitative sop to the powerful agribusiness lobby, designed to provide farm employers with a steady supply of low-wage, docile labor.

Market-Based Failure — A Second Opinion on U.S. Health Care Costs (by Robert Kuttner, writing in the New England Journal of Medicine)
U.S. health care expenditures rose 6.7% in 2006, the government recently reported. According to the Centers for Medicare and Medicaid Services, total health care expenditures exceeded $2.1 trillion, or more than $7,000 for every American man, woman, and child… The dominance of for-profit insurance and pharmaceutical companies, a new wave of investor-owned specialty hospitals, and profit-maximizing behavior even by nonprofit players raise costs and distort resource allocation.
Please click through and read the entire article to get a full appreciation for the built-in inefficiencies in profit-based health care.

Taxes and Inequality: Lessons from Abroad
For most left-of-center Americans, the paramount concern with respect to taxes is progressivity. The aim: reduce income inequality. The means: raise income tax rates for the rich and/or lower them for the poor. A look at the experiences of other affluent nations suggests consideration of an alternative — though by no means antithetical — strategy.

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