Robert Reich: But before the hostilities start again and we all get lost in puerile politics and petty tactics, it’s useful to consider what’s really at stake for our economy and democracy.
Robert Reich: President Obama laid out the problem correctly and effectively. He explained why jobs and growth must be the nation’s first priority now — not the federal deficit.
Steven Conn: For thirty years inflation has not been a serious threat to the American economy, yet politicians and pundits continually fret about it. The never-ending worry about inflation is like fighting the last war rather than the current one. What’s needed today is a war on unemployment and wage stagnation, not inflation.
Robert Reich: The biggest ongoing threats are chronic recession or even deflation, because consumers don’t have enough money to what the economy is capable of selling at full or near-full employment. Despite gains in productivity, little has trickled down to America’s middle class.