Robert Reich: January’s increase in hiring is good news, but it masks a bigger and more disturbing story – the continuing downward mobility of the American middle class.
Robert Reich: Not a day goes by without Republicans decrying the budget deficit. But the biggest single reason for the yawning deficit is big money’s corruption of Washington.
Robert Reich: Republican leaders are trying to get rank-and-file Republicans to go along with an extended payroll tax holiday — but by paying for it without raising taxes on the very rich.
Robert Reich: President Obama laid out the problem correctly and effectively. He explained why jobs and growth must be the nation’s first priority now — not the federal deficit.
Robert Reich: Anyone who characterizes the deal between the President, Democratic, and Republican leaders as a victory for the American people over partisanship understands neither economics nor politics.
Robert Reich: Americans no longer have the purchasing power to keep the economy going at full capacity. Since the debt bubble burst, most Americans have had to reduce their spending; they need to repay their debts, can’t borrow as before, and must save for retirement.
Norman Solomon: More than two weeks after President Barack Obama announced his decision to make a tax-cut deal with Republican leaders, the shock waves continue to buffet many Democrats and others who are stunned by the grim implications.
Tracy Emblem: Let’s give the new legislation which provides tax breaks and job incentives for “small businesses” time to work before blindly accepting McConnell’s argument that allowing the Bush-era tax cuts to expire would hurt small businesses. We must start closing the deficit gap.
Robert Reich: The Democratic Party can no longer ignore critical investments in the productivity of average workers. Nor can it ignore the increasing concentration of income and wealth at the very top, and the inability of America’s middle and working class to get the economy moving again.
Lydia Howell: A brutal reality is undeniable in the fight over the Bush-era tax cuts and expiring unemployment benefits: American democracy isn’t working for everyday people — that is, the non-wealthy.
Robert Reich: By extending the Bush tax cuts to the wealthy, shrinking the estate tax, and freezing discretionary spending (on everything except defense), Obama’s leaving almost nothing for education and infrastructure.
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.
Robert Reich: In reality, the lousy economy is due to insufficient demand – the result of the nation’s almost unprecedented concentration of income at the top.