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Entries by Robert Reich from 11/2012

More Jobs, Lousy Wages, and the Desertion of Non-College White Men From the Democratic Party

| Posted 11.02.2012 | Business

The two most important trends, confirmed in today's jobs report from the Bureau of Labor Statistics, are that jobs slowly continue to return, and those jobs are paying less and less.

Romneyism

| Posted 11.03.2012 | Politics

By now, in these last remaining days before the election of 2012, we have learned enough about the beliefs of the Republican presidential candidate to see them as a worldview all its own -- a kind of creed that explains Mitt Romney. Those who say he has no principles are selling him short.

We the People, and the New American Civil War

| Posted 11.05.2012 | Politics

We're coming to the end of a bitter election feeling as if we're two nations rather than one. The challenge -- not only for our president and representatives in Washington but for all of us -- is to rediscover the public good.

Obama's Next Economy: Why He Must Take This Opportunity to Reframe the Economic Debate

| Posted 11.07.2012 | Business

Barack Obama's victory gives him the attention of the nation and the authority that comes with having won reelection. It therefore gives him the opportunity to recast the economic debate. The upcoming fiscal cliff makes it particularly urgent he do so quickly.

Why John Boehner May Have More Leverage Over the Tea Partiers in Congress

| Posted 11.08.2012 | Politics

The election may have been enough of a slap in the face to cause Tea Partiers to rethink their overall strategy of intransigence. And to give Boehner and whatever moderate voices are left in the GOP some leverage over the crazies in their midst.

The Next Game of Economic Chicken: Not on the Deficit But Over Taxing the Rich

| Posted 11.09.2012 | Politics

I had naively assumed the election would put an end to the games, but obviously not. Yet Obama and the Democrats are holding most of the cards now. Let's hope they use them.

The President's Opening Bid on a Grand Bargain: Aim High

| Posted 11.12.2012 | Politics

Assuming the goal in the Grand Bargain is $4 trillion of deficit reduction over the next decade (that's the consensus of the Simpson-Bowles commission, the Congressional Budget Office, and most independent analysts), here's what the President should propose.

The President's Opening Bid on a Grand Bargain (II): Put a Trigger Mechanism in the Legislation

| Posted 11.13.2012 | Politics

The Congressional Budget Office and most independent economists say it will suck so much demand out of the economy that it will push us back into recession. That's the austerity trap of low growth, high unemployment, and falling government revenues Europe finds itself in. We don't want to go there.

The President's Opening Bid on the Grand Bargain (III): The Difference Between "Broadening the Tax Base" and Raising Taxes on the Rich

| Posted 11.14.2012 | Politics

If Republicans won't budge on raising tax rates but insist on broadening the base, Democrats should take aim at the biggest tax loophole of all for America's wealthy: the preference for capital gains. Capital gains should be taxed the same as ordinary income.

The Upcoming Mini-Deal on the "Fiscal Cliff"

| Posted 11.16.2012 | Politics

The path of least resistance is for congressional Republicans and the president to agree to kick the can down the road -- keeping everything as it is (current spending, the Bush tax cut) until a date in the not-too-distant future -- say, March 15.

Why BP Isn't a Criminal

| Posted 11.16.2012 | Politics

Can we please get a grip? The only sentient beings in a corporation are the people who run them or work for them. When it comes to criminality, they're the ones who should be punished.

Why We Should Stop Obsessing About the Federal Budget Deficit

| Posted 11.18.2012 | Politics

The best way to generate jobs and growth is for the government to spend more, not less. And for taxes to stay low -- or become even lower -- on the middle class.

Why You Shouldn't Shop at Walmart on Friday

| Posted 11.21.2012 | Money

The widening inequality reflected in the gap between the pay of Walmart workers and the returns to Walmart investors, including the Walton family, haunts the American economy.

Will Tim Geithner Lead Us Over or Around the Fiscal Cliff?

| Posted 11.28.2012 | Politics

If "pragmatic deal maker," as the Wall Street Journal describes Geithner, means someone who believes any deal with Republicans is better than no deal, and deficit reduction is more important than job creation, we could be in for a difficult December.

Bungee-Jumping Over the Fiscal Cliff

| Posted 11.29.2012 | Business

So rather than stoking middle-class fears about the cliff, the White House ought to be doing the opposite -- reassuring most Americans they can survive the fall.

Opening Positions on the Cliff Deal: Deja Vu All Over Again

| Posted 11.30.2012 | Politics

The GOP doesn't want to show any flexibility. Meanwhile, the White House has started the bidding with substantial concessions on tax increases and spending cuts. Haven't we been here before?

Organizing McDonald's and Walmart, and Why Austerity Economics Hurts Low-Wage Workers the Most

| Posted 11.30.2012 | Business

America is becoming more unequal by the day. So wouldn't it be sensible to encourage unionization at fast-food and big-box retailers? Yes, but here's the problem.