Robert Reich: President Obama laid out the problem correctly and effectively. He explained why jobs and growth must be the nation’s first priority now — not the federal deficit.
Robert Reich: Of all the nonsense Texas Governor Rick Perry spews about states’ rights and the tenth amendment, his dumbest is the notion that states should go it alone.
Robert Reich: We are slouching toward a double dip because we’re getting the problem wrong. Despite what Standard & Poor’s says, notwithstanding what’s occurring in Europe, and regardless of U.S. budget projections years from now — our current crisis is jobs, wages, and growth. We do not now have a debt crisis.
Robert Reich: S&P’s intrusion into American politics is also ironic because, as I pointed out recently, much of our current debt is directly or indirectly due to S&P’s failures (along with the failures of the two other major credit-rating agencies — Fitch and Moody’s) to do their jobs before the financial meltdown.