Let's bag the picnics and parades this Labor Day. American workers should march in protest. They're getting the worst deal they've had since before Labor Day was invented -- and the economy is suffering as a result.
President Obama is on vacation. This fact is being subject to ridicule from Republicans, and their enablers in the media. Which has prompted me to -- in the fashion of Bill Maher -- come up with a New Rule.
Not only is the U.S. slouching toward a double-dip, but so is Europe. New data out Tuesday show even Europe's strongest core economies slowing to a crawl. We're on the cusp of a global recession. Policymakers be warned: Austerity is the wrong medicine.
On Labor Day, President Obama should announce a "Jobs First" program. Namely, spend $300 billion more starting now to spur consumer demand in exchange for $300 billion in reduced spending in 2014. Jobs first. Cuts later.
What precisely will Obama fight for now that the debt deal has tied his hands? He says he wants to extend tax cuts for middle class families and make sure the jobless get unemployment benefits. Fine, but the new deal won't let him.
We can already suspect that Dimon's legacy will be written with the words "Jamie didn't know." Given the level of corporate malfeasance in his organization during his tenure as CEO, it seems that he's been a remarkably unobservant executive.
If the choice for salvaging the American economy is between Republican snake oil and the puff ball proposals of the president's CEO-laden jobs council, America will be in deeper and deeper trouble. And so will the president.
President Obama's putative embrace of the false notion that businesses need more financial incentives in order to hire risks giving legitimacy to the same supply-side economic approach that has failed for the past thirty years.
The unemployed are politically invisible. They don't make major campaign donations. They don't lobby Congress. There's no National Association of Unemployed People. This is why neither party seems to care that we're heading back towards a double-dip recession.
The leaders of Wall Street and big business may now have to wake up to a reality they've tried to avoid telling our leaders in Washington -- that the central economic problem of our time isn't the long-term budget deficit but the immediate deficit in aggregate demand.
It's vital that we understand the truth about the American economy. How did we go from the Great Depression to 30 years of Great Prosperity? And from there, to 30 years of stagnant incomes and widening inequality, culminating in the Great Recession?
Now it's official. The 2012 campaign will be about the future of Medicare. This spells trouble for the GOP. Polls show an overwhelming bipartisan majority of Americans want to preserve Medicare. They don't want to turn it over to private insurers.