Nearly three years after the public bailed out Wall Street, ordinary working people are still waiting for the tiniest slice of the spoils, while the people who are getting the biggest share -- the executives -- are left free to gamble for profits.
Right wing politicians are loathe to credit the New Deal with any success in hoisting the US out of the Great Depression, but credit WWII for that achievement. But that claim, however, undermines their entire premise.
Barack Obama, who took office months after the Great Recession started, must be cursing his luck. Just at the point when investment and jobs normally would be coming back, the U.S. economy has taken a sickening swoon.
It's time to apply the lessons of the Bush-era tax cuts to public policy; the opportunity cost of the cuts simply remains too high, particularly if the social contract of the last 80 years is further breached in return for more tax cuts for the privileged.