The Renewing America Initiative is publishing today a new Progress Report and Infographic Scorecard on federal education policy entitled “Remedial Education.” There is no single issue that is more important to America’s future, and probably none where the challenges are greater. Read more »

The United Kingdom is implementing a major welfare reform, replacing a constellation of social support programs with a single monthly payment, the universal credit. The amount a recipient receives will be based on income level of the prior month, with additional amounts for disability, caring responsibilities, housing costs, and children. Touted as the most significant reform since the 1940s, the universal credit went into pilot phase in April 2013, with broader rollout to run from October 2013 to October 2017. Read more »

Another day, another major acquisition of a U.S. firm by a Chinese company. The $4.7 billion deal announced today in which China’s Shuanghui Group has agreed to buy the world’s biggest pork producer, Smithfield, is the largest such transaction to date, and nearly double the price paid last year by Dalian Wanda to acquire the U.S. movie theater company AMC. But in every other respect it is just another in a growing string of large, and only moderately controversial, Chinese purchases of U.S. firms. Read more »

HONG KONG – The California summit between U.S. President Barack Obama and Chinese President Xi Jinping on June 7-8 comes at a time of heightened tension between the world’s two preeminent powers. But divisive issues – from computer hacking to America’s “pivot to Asia” – must not claim all of the attention. If Obama and Xi lift their heads above the parapets and begin charting a jointly agreed course through the coming decade, they may find that they have much in common. Read more »

On Monday, Memorial Day, Wal-Mart will begin fulfilling its promise to hire any recent, honorably discharged veteran that wants a job (at least part-time). The world’s largest retailer says its pledge, part of the Obama administration’s “Joining Forces” initiative, will result in the company hiring more than 100,000 vets over the next five years. “Wal-Mart is already the largest private employer of veterans — and we want to hire more,” says the company’s website. Read more »

Watching the Senate hearing yesterday with Apple chief executive Tim Cook, I came to the conclusion that there are some things the government should not be trying to do even if the reasons for doing so are obviously good ones. And one of those things is taxing corporations. Read more »

MILAN – In a recent set of studies, Carmen Reinhart and Kenneth Rogoff used a vast array of historical data to show that the accumulation of high levels of public (and private) debt relative to GDP has an extended negative effect on growth. The size of the effect incited debate about errors in their calculations. Few, however, doubt the validity of the pattern. Read more »