Wall Street billionaire Pete Peterson's "astroturf supergroup," the Campaign to Fix the Debt, won't have much to celebrate this Independence Day weekend after missing its goal of achieving a "Grand Bargain" on austerity by July 4, 2013.

As cities and states struggle to raise revenue in a sagging economy, they have increasingly turned control of public services and assets over to for-profit corporations. But these short-term efforts to close budget gaps can have a disastrous long-term impact.

-- by Nick Surgey and Brendan Fischer

The Center for Media and Democracy filed a complaint yesterday with the Nebraska Accountability and Disclosure Commission alleging that Nebraska Senator Jim Smith, a major proponent of the Keystone XL pipeline, failed to disclose significant travel expenses paid for by the Government of Alberta, Canada during Smith's participation in an "Oil Sands Academy" organized by the American Legislative Exchange Council (ALEC). The trip was sponsored by the operator of the Keystone XL pipeline, TransCanada, which may raise additional concerns under the ethics and lobbying code.