Miguelo Rada doesn't seem like the kind of guy who'd have extra cash. He just spent 32 years in prison, he lives in a halfway house in West Harlem, and his current income comes only from public assistance.
He uses food stamps for food, wears hand-me-down clothes and buys almost nothing. He is also an unofficial bank.
"If somebody asks me, 'Can I borrow $20?' If I have it I'll say, 'Here!' " he says.
This kind of borrowing is one way people do what economists call "consumption smoothing" – basically making spending more regular, even when income is not.
On this day 50 years ago, President John F. Kennedy signed the Equal Pay Act in an effort to abolish wage discrimination based on gender. Half a century later, the Obama administration is pushing Congress to pass the Paycheck Fairness Act, designed to make wage differences more transparent.
Some dispute the frequently cited figure that women are paid 77 cents for every dollar a man earns. But even those who argue the gap is narrower agree it's most prominent when a woman enters her childbearing years.
The 10 biggest breaks, deductions and credits in the U.S. income tax code are costing the Treasury $900 billion this year, with more than half of that total benefiting the wealthiest 20 percent of taxpayers.
This is WEEKEND EDITION from NPR News. I'm Scott Simon. The economy added 165,000 jobs in April. That exceeded the expectations of economists. It also drove down the unemployment rate to a four-year low, 7.5 percent. Unfortunately, the biggest gains were in lower-paying fields like hospitality and temp agencies. And as the school year comes to a close and young people start looking, the question is will there be enough work for them. NPR's Sonari Glinton reports.