Robert Reich gets to the heart of the matter. “For most of the last century, the basic bargain at the heart of the American economy was that employers paid their workers enough to buy what American employers were selling.”
Even after the recession was declared “over”, US incomes kept falling — twice as fast as during the recession. One reason pay has stagnated is that many people who lost their jobs in the recession — and remained out of work for months — have taken … Read More
You’re sitting at your computer or holding your smartphone while reading this so you probably don’t care but an additional 2.6 million people slipped below the poverty line in 2010. The recession is also affecting the middle class: “real median … Read More
Jacob Weisberg, writing in Slate, says this about the debt-ceiling crisis: The debacle revealed that politics is broken in every possible way, and that there is no point in explaining complicated matters to the American people. Thanks to the Tea … Read More
I’ve been saying this for years, but the biggest losers in the current economy are the middle class. The middle class pays the most taxes (more than the rich) and is the recipient of the least amount of government services … Read More
It’s a simple question really, why did unemployment spike so high in the US versus other countries, especially in Europe? The answer is equally simple, US companies lay off so many workers because it’s so easy to do. In countries … Read More
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