Robert Reich: Although the nation is now producing more goods and services than it did before the slump began in 2007, we’re doing it with six million fewer people.
Michele Wasdin: It is simplistic to argue that remittances are bad because money is leaving the U.S., but upon further analysis, it becomes clear that remittances return to the U.S. in the form of increased exports. Remittances give individuals in foreign countries the ability to buy U.S. goods and the ability to invest in themselves which, in turn, allows them to buy even more U.S. goods.
What’s the Administration’s specific aim in bailing out GM? I’ll give you my theory later. For now, though, some background. First and most broadly, it doesn’t make sense for America to try to maintain or enlarge manufacturing as a portion of the economy. Even if the U.S. were to seal its borders and bar any [...]