Robert Reich: Democrats should admit America’s economic structure has become dangerously unbalanced — more unbalanced than it’s been in 80 years — and the imbalance is making it difficult if not impossible for the nation to emerge from recession. For these reasons, Democrats should recommit themselves and the nation to redresssing that balance.
e’re lucky the Democrats have large majorities in Congress because every Republican member of the House of Representatives voted against the $825 billion stimulus bill today. The vote was 244 to 188, with 11 like-minded Democrats joining in the betrayal. Even a face-to-face meeting with the President on Capitol Hill failed to sway any of [...]
By now everyone with a roof over his head has heard about the subprime mortgage mess. Understanding why so many homeowners are defaulting on their mortgages or what mortgage foreclosures have to do with the collapse of the housing market, however, is another matter. To get a better grasp of the mortgage mess I called [...]