China plans to spend a quarter of a trillion dollars on expanding its aerospace industry, and the city of Xi’an alone has 250,000 workers in the field. Scores of new airports are under construction. And China hopes to create the next Boeing or Airbus.
Walter Brasch: After significant compromise with the recalcitrant Republicans who want to continue to give the wealthy tax advantages while cutting significant social programs, President Obama has finally taken a stand on debt ceiling negotiations. However, in labor, wildlife management, and the environment he is still compromising rather than coming out forcefully for the principles he and the working class and environmentalists believe.
Robert Reich: Having a giant undercover military jobs program is an insane way to keep Americans employed. It creates jobs we don’t need but we keep anyway because there’s no honest alternative.