Peter Dreier: recent report sponsored by bank reform groups reveals that if banks lowered the principal balance on all underwater mortgages to their current market value, it would pump over $70 billion per year back into the economy.
Steve Hochstadt: The truth, however, is not important to Romney. He and other Republican politicians have been doing everything in their power to destroy unions. Saving union jobs is worse than saving no jobs.
Timothy Robertson and Matt Kavanagh: The Obama administration’s U.S. Trade Representative is gathering secretly in Los Angeles with negotiators from around the world for a session that could create a whole new set of international trade rules: rules that favor the wealthy 1% of corporate interests.
Peter Dreier: The high unemployment rate among today’s youth, and the enormous increase in debt owed by college students and recent graduates, has something to do with their growing doubts about capitalism. So does their uncertainty about their own future and the country’s future.
Robert Reich: American business won’t and can’t lead the way to more and better jobs in the United States. First, the private sector is increasingly global, with less and less stake in America. Second, it’s driven by the necessity of creating profits, not better jobs.
Steven Mikulan: Everything about Apple (from the mocking irony of Jobs’ name to the outsourcing of its employees’ livelihoods to factories in a totalitarian police state) epitomizes big business’s attitude of contempt – not only for American workers but for America itself.
Walter Moss: From the Reagan years to the present, conservatives have been fond of quoting Friedman and Hayek. Their influence can be seen in such documents as the Republican Party’s 1994 “Contract with America.”
Carl Bloice: There are an estimated 3.5 million seriously delinquent mortgages out there. There were nearly 2.7 million foreclosure filings on about 1.9 million homes last year. That’s down from 2007, but it’s still about one out of every 69 homes in the country.
Robert Reich: The Right’s blather about free enterprise risk-taking has it upside down. The higher you go in the economy, the easier it is to make money without taking any personal financial risk at all. The lower you go, the bigger the risks.
Steve Hochstadt: The lesson for all of us is that we do better for ourselves and our communities if we patronize small businesses and use local tax dollars to encourage local entrepreneurs, not big boxes.
Carole Bartolotto: The problem with concluding that GMOs are safe is that the argument for their safety rests solely on animal studies. These studies are offered as evidence that the debate over GMOs is over. Nothing could be further from the truth.
Dan Bacher: Reservoir storage does not equate to water supply,” said Jay Lund, lead author of the report and director of the UC Davis Center for Watershed Sciences. “Reservoirs cannot supply water without a water supply to fill them first.”