Robert Reich: Friday’s jobs report shows an economy that’s still moving in the right direction but way too slowly, which is why Washington’s continuing obsession with the federal budget deficit is insane. Jobs and growth must come first.
Robert Reich: The two American economies — the Big Money economy and the Average Working Family economy — will continue to diverge. Corporate profits will continue to rise, as will the stock market. But typical wages will go nowhere, joblessness will remain high, the ranks of the long-term unemployed will continue to rise, the housing recovery will remain stalled, and consumer confidence will sag.
I understand that Obama, as the first African American to assume the presidency, has to walk a racial tight rope, a burden no other American president has had to bear. But as an African American woman who cried the night he was elected and cried the day he was inaugurated, I feel a deep sense of betrayal.