Robert Reich: Now that we’re slouching toward a double-dip recession, the only hope is voters will tell their members of Congress to stop obsessing about future budget deficits and get to work on the real crisis of unemployment, falling wages, and no growth.
Walter Brasch: Since you like hunting, and they like hunting, your banker friends will let you buy all the guns and ammunition you want. But, they can’t help you on your health bills, or even lower the insurance premiums and co-pays. And, they can’t do much for that inflated mortgage payment. Or to help you find another job.
Steve Hochstadt: Our economic disaster is not about national debt, but about national poverty. America cannot be a great country, if we do not alleviate the critical economic problems gripping our poorest families.
Robert Reich: Republicans are using what would otherwise be a routine, legally technical vote to raise the debt limit as a means of holding the nation hostage to their own political goal of shrinking the size of the federal government.
Tom Hall: The mainstream media has had little to say about Obama’s accomplishments. Why would they? The mainstream media is owned by, and serves, a handful of huge corporations in New York.
Robert Reich: The only way out of the vicious economic cycle is for government to adopt an expansionary fiscal policy — spending more in the short term in order to make up for the shortfall in consumer demand.
Carl Bloice: If one out of ten people seeking work can’t find any, it follows that the average person has a friend, relative or neighbor amongst them. All she or he has to do is look out the window or answer the phone to be scared.
John Peeler: One of the most striking features of our current global economic morass is that many Third World economies are weathering the crisis rather well, while the supposed leaders of the world economy (the United States, the European Union, the Japanese) are in deep trouble that looks to get deeper.
David Love: Obama can solve this whole thing tomorrow if he just calls for a new New Deal program already. But will he have the courage? Time will tell, but the President, like this sad nation, is short on time.
Tom Hayden: It is time for our most prominent liberal economists to broaden their analysis of the domestic crisis to include spending for these unfunded wars. Only Joseph Stiglitz has done so.
Steven Hill: One of the qualities holding Greece back from enjoying the benefits of a more modern economy is its reliance on an informal economy of family and social networks which too often translates into nepotism, back room deals and tax dodging. But during an economic crisis like this, those networks become valuable
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.
Marian Wang: Several recent reports about robo-signers have brought fresh attention to another angle of the foreclosure scandal: Robo-signing didn’t just occur in the foreclosure process. It also occurred in the processing of mortgage assignments.