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.
Robert Reich: If the Democrats remain silent, the vacuum will be filled by the Republican snake oil of federal spending cuts and cut taxes on big corporations and the wealthy.
Robert Reich: The Republican lie that the nation’s long-term budget deficit is responsible for high unemployment would be laughable if it weren’t so tragically irrelevant to the current situation.
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.
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 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.
Robert Reich: The requirement that everyone purchase health insurance, or pay a fine doesn’t appeal to many Americans. They don’t like the government telling them they have to buy something. But the healthcare system can’t work without this mandate. Only if everyone buys insurance can insurers afford to cover people with preexisting conditions, or pay the costs of catastrophic diseases.
Robert Reich: What happened to John Boehner’s $100 billion budget-cutting commitment? What became of Paul Ryan’s big ideas? Where did all the roaring and raging on the right during the 2010 election go?
Thousands of protesters gathered this weekend in Palm Springs to express opposition to the secret meeting held by David and Charles Koch. The Koch brothers, owners of the 2nd largest privately held corporation in the United States, were conducting their bi-annual retreat where they and a cadre of well heeled power brokers hold strategy sessions.
Robert Reich: The only practical effect of adding $858 billion to the deficit will be to put more pressure on Democrats to reduce non-defense spending of all sorts, including Social Security and Medicare, as well as education and infrastructure.
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.