Robert Reich: As long as income and wealth keep concentrating at the top, and the great divide between America’s have-mores and have-lesses continues to widen, the Great Recession won’t end — at least not in the real economy.
It behooves everyone in Congress to demand that big banks, the overnight recipients of billion-dollar bail-outs, renegotiate loans in bankruptcy court. After all, we must remember these banks, the ones we bailed out, caused the financial meltdown with predatory sub-prime lending.
In remarks to a health reform forum in March, Barack Obama acknowledged, ‘The greatest threat to America’s fiscal health … is the skyrocketing cost of health care.’ How he deals with this danger will arguably be as important for the historical reputation of his presidency as his foreign policy initiatives to safeguard national security.
Why didn’t Obama deliver this speech when he spoke to bankers on Wall Street a few months ago? Better late than never, I suppose, and bankers are slightly more likely to pay attention to Volcker than to Obama as evidenced by the fact that several major US bank CEOs turned down the invitation to hear the president speak.
Medicare in Crisis: The Devastating Impacts of a Corporate Health Care Bill. But now the dust is starting to settle, and the Congressional vision for health care in the U.S. is emerging. Instead of being “progressive,” it will amount to a massive, corporate-inspired attack on American workers, the elderly, and the poor. -Shamus Cooke False […]