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.
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?
Judith Stein: If President Obama wants the United States to manufacture again, he must change foreign and domestic priorities. The United States is more committed to maintaining its open market than to providing jobs for Americans.
Robert Reich: The silence is deafening. While the rest of the nation is heading back toward a double dip, Washington continues to obsess about future budget deficits. Why?
Brent Budowsky: Never before in American history has unemployment been so high, yet neither the president nor Congress pushes for a major jobs bill.
Sherwood Ross: Instead of investing in a framework to help blacks advance by their own initiative, the Federal government has flushed billions down the toilets of friendly foreign strongmen such as Egypt’s Hosni Mubarek.
Robert Reich: Republicans figure that if they can’t sell the pig, they’ll just put lipstick on it and find some suckers who will think it’s something else.
Robert Reich: The question on everyone’s mind: Will the Fed signal it’s now more worried about inflation than recession?
Robert Reich: In the past I’ve often wondered whether they’re knaves or fools. Now I’m sure. Republicans wouldn’t mind a double-dip recession between now and Election Day 2012.
Robert Reich: Obama won’t actively fight the budget battle if the current White House view of how he wins in 2012 continues to prevail.
Brent Budowsky: The economic and political shock wave will be momentous as budget politics will increase joblessness and reveal with brutality that Washington is out of touch with heartland America and dominated by special interests that voters deplore.
Ron Wolff: California’s “new” (but experienced) governor is bringing some urgently needed honesty and fresh thinking to the budgeting process in a state weary of smoke, mirrors, a two-thirds requirement in the legislature for tax increases, and the ravages of a recession imposed largely by external forces.