Robert Reich: This gusher is an embarrassment for an industry seeking to keep its $4 billion annual tax subsidy from the U.S. government, at a time when we’re cutting social programs to reduce the budget deficit.
Robert Reich: The man who electrified the nation with his speech at the Democratic National Convention of 2004 put it to sleep Tuesday night. President Obama’s address to the nation from the Oval Office was, to be frank, vapid. If you watched with the sound off you might have thought he was giving a lecture on the history of the Interstate Highway System.
Robert Reich: Ad campaigns about corporate social responsibility are cheap. So are public scoldings by politicians about a corporation’s irresponsibility. Watch not what they say but what they do. The only way BP will pay more than $75 million — and the costs of the spill will easily top that — is if they’re required by law to do so.