Why This Is the Worst Recovery on Record

obama business roundtable

*+-Robert Reich: We’re now witnessing what happens when all of the economic gains go to the top, and the rest of the population doesn’t have enough purchasing power to keep the economy going.

Fair Economy Essential to Growth

titanic capitalism

*+-Robert Reich: Wealth percolates upward from working people who are adequately educated, healthy, sufficiently rewarded, and who feel they have a fair chance to make it in America.

Washington Pre-Occupied

occupy washington

*+-Robert Reich: The Occupier movement is still in its infancy in the United States, but it cannot be stopped. Here, as elsewhere, people are outraged at what feels like a rigged game.

Republican War on Worker Rights Undermines Economy

laane faces

*+-Robert Reich: The only way back toward sustained growth and prosperity in the United States is to remake the basic bargain linking pay to productivity. This would give the American middle class the purchasing power they need to keep the economy going.

How to Get Washington’s Attention

wall-street-follies-wide

*+-Robert Reich: The leaders of the Street and big business may now have to wake up to a reality they’ve tried to avoid — that the central economic problem of our time isn’t the long-term budget deficit but the immediate deficit in aggregate demand.

Why Obama’s Proposal Is Risky

robert reich

*+-Robert Reich: The underlying problem isn’t the budget deficit. It’s that so much income and wealth are going to the top that most Americans don’t have the purchasing power to sustain a strong recovery.

The Big Lie

death panels

*+-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.

The Failure of the G-20 Summit

obama seoul

*+-Robert Reich: It’s always nice to talk about international cooperation, and to create global photo ops. But the truth is much more needs to be done to ease tensions that are moving the global economy closer to the brink of outright protectionism

Alan Greenspan, Robert Rubin, and Herbert Hoover

herbert hoover

*+-Robert Reich: Both Greenspan and Rubin are deficit hawks. So was Herbert Hoover and so was Hoover’s Treasury Secretary Andrew Mellon. And look what Hoover and Mellon got us into. When we least need him, Hoover is being exhumed.