Carl Bloice: Reflect on the sudden, shocking awareness that that one third of the members of the U.S. House of Representatives are prepared to let 2 million people – victims of an economic crisis not of their making – face the holidays with no income.
Joseph Palermo: The whole tenor of the next two years is going to feel like George W. Bush never left office. The GOP will have de facto control over the nation’s politics and agenda. If President Obama goes down the Clinton path of triangulating against his progressive base (as seems likely) then he deserves to be a one-term president.
Steven Hill: One of the qualities holding Greece back from enjoying the benefits of a more modern economy is its reliance on an informal economy of family and social networks which too often translates into nepotism, back room deals and tax dodging. But during an economic crisis like this, those networks become valuable
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.
Robert Reich: John Boehner, the Republican House leader who will become Speaker if Democrats lose control of the House in the upcoming midterms, recently offered his solution to the current economic crisis: “Liquidate labor, liquidate stocks, liquidate the farmer, liquidate real estate. It will purge the rottenness out of the system. People will work harder, lead a more moral life.”
Carl Bloice: A call for actually retooling the economy for today’s challenges and granting preferential tax treatment to struggling working people could stir some enthusiasm among people now seeming inclined to sit out the election.
Randy Shaw: Few actions are more despicable than a multi-millionaire promoting making life worse for the very poor. Yet that’s what California Republican Governor candidate Meg Whitman is doing to get votes, even arguing that our lowest-income families should be removed from welfare altogether after two years.
So far, here in the U.S., over 4 million homes have been foreclosed on since mid-2006. Because consumer spending drops drastically whenever housing values decline, the entire U.S. economy has been in a tail-spin throughout this period. Over 10 million jobs have been totally eliminated due to a dramatic drop in consumer sales and the resultant decline in production.