Robert Reich: And without some redistribution, America’s growing army of low-wage workers may fall prey to demagogues on the right or left who offer convenient scapegoats for their frustrations.
Jim Hightower: In December 2007, when Wall Street’s reckless greed crashed our economy, the unemployment rate was only about 5%, the average length of being unemployed was half of today’s, and far fewer people were forced into part-time work or had to find multiple jobs to make ends meet. Plus, family income was much higher back then.
Gary Cohn: San Jose Mayor Chuck Reed and conservative activists are developing a ballot initiative to empower governments and voters in California to cut state and local public sector workers’ pension guarantees — not just new hires, but those who have been working for years under existing pension agreements.
Gary Cohn: While few budget experts would deny there are problems with funding public employee pensions, there is nothing resembling a consensus that supports the solutions proposed by Pew and the Arnold Foundation – whose warnings of imminent pension bankruptcy complement similar apocalyptic scenarios sketched by conservatives about Social Security’s future.