Brent Budowsky: America needs new thinking for monetary and fiscal policy. Fed policy has failed. Government policy is inadequate. Ron Paul has advanced an important debate.
Norman Solomon: Call me old-fashioned, but I believe in the vital lessons of the New Deal. Many millions of good jobs must be created — and that will require well-funded federal jobs programs on a large scale.
Robert Reich: Wall Street has effectively neutered the Dodd-Frank law, which is the best argument I know for applying the nation’s antitrust laws to the biggest banks and limiting their size.
Shamus Cooke: Because both parties simply threw money at the banks and hedge funds instead of punishing them, a condition of “moral hazard” was created, meaning, that banks would assume another bailout would come their way if they destroyed the economy again — too big too fail, remember?
Robert Reich: According to JPMorgan Chase CEO Jamie Dimon, the recovery has stalled because of strict banking regulation. I’m not making this up.
Marian Wang: The U.S. Treasury still holds a stake in Chrysler that it intends to sell, and an Obama administration official has said that the government doesn’t expect to fully recover about $1.9 billion in remaining investments.
Robert Reich: Tea Partiers have almost as much contempt for big business and the Street as they do for government. After all, the Tea Party was born in anger over the Wall Street bailout. This is the heart of the civil war in the GOP.
Tracy Emblem: the United States should consider phasing out its nuclear power plants over the next generation and begin investing in other safer renewable energy sources. We can lead the world in clean energy technology.
Paul Kiel and Olga Pierce: The Obama administration has relied on a voluntary program with few sticks, that simply offers banks incentives to modify mortgages.
Shamus Cooke: The stage is set, and the main actors in Congress and in the corporate establishment are ready to perform, having rehearsed behind closed doors for the coming assault on organized labor’s most powerful sector, public workers.
Shamus Cooke: To deal with working people more ruthlessly, the radical right is being unleashed. In normal times these bigots yell furiously but no one listens. But in times of economic crisis they’re given endless airtime on all major media outlets.
Robert Reich: The deal the President struck with Republican leaders is an abomination. It’s larger than the bailout of Wall Street, GM, and Chrysler put together, larger than the stimulus package, larger than anything that’s come out of Washington in years. The president needs new advisors.
Shamus Cooke: Unless labor and community groups massively mobilize working people in fighting for a pro-worker solution to the deficit crisis, austerity measures — like reducing Social Security and Medicare — will be forced upon us.