Robert Reich: Our real economic problem continues to be a dearth of good jobs along with widening inequality. Cutting the budget deficit may make both worse, by reducing total demand for goods and services and eliminating programs that lower-income Americans depend on.
Robert Reich: At a closed-door meeting this morning after deciding they’ll stick to their plan to alter the Affordable Care Act and risk a government default.
Robert Reich: Now is the time to lance the boil of Republican extremism once and for all.
Robert Reich: Five years ago this month Wall Street almost slid over the cliff. We bailed it out but millions of Americans are still suffering
Robert Reich: Kerry is an intelligent man, but he has a fatal flaw. He craves the limelight. He wants to be in the center of the action and attention.
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: The percent of Americans living below the poverty line has been increasing even as the economy has started to recover — from 12.3 percent in 2006 to around 14 percent this year. More than 35 million Americans now live below the poverty line.
Robert Reich: Everyone would benefit from higher taxes on the wealthy to finance public investments in roads, bridges, public transit, better schools, affordable higher education, and healthcare but higher unemployment helps to boost corporate profits.
Rob Reich: People who don’t much like authority, recoil from orders, don’t believe in clear answers, often disobey commands, and prefer things a bit undefined, tend to gravitate to the Democrats.
Robert Reich: In drawing boundaries to include just the poor inner city, and requiring those within that boundary to take care of their compounded problems by themselves, the whiter and more affluent suburbs are off the hook.
Robert Reich: Taxpayers are subsidizing sky-high executive compensation. That’s because corporations deduct it from their income taxes, causing the rest of us to pay more in taxes to make up the difference.
Robert Reich: Harry Reid may now be able to summon 51 votes to abolish the filibuster, at least for cabinet officials and other high-level policy makers. But that shouldn’t be considered a victory. It’s a sad commentary on where we’ve come to.
Robert Reich: The real answer is the Republican base is far more entrenched, institutionally, than was the old Democratic base.