Given the economy's size and complexity, our problems cannot be solved by tinkering around the edges. Instead, a total revamp is necessary, one that both grows the middle class while reining in the runaway excess of the business class.
The promise of America is that anyone who works hard and plays by the rules can earn a middle-class life. That promise is betrayed when the system provides a tiny class of Americans with special treatment, including a get-out-of-jail-free card when they commit fraud to make untold millions.
In yesterday's elections, Americans took the measure of some in elected office and said they wanted change. As progressives, we should recognize that the change called for is still one that we are equipped to provide.
The banking wars are in full scale battle mode. We are going to see a lot more of this faux populism paid for by bailed out bankers before the year is through, and progressives have to be quick to expose it.
Advocates of cutting Social Security benefits often argue ruefully that they wish that there was some other way to "save" the program. In fact, Social Security's currently strong finances could be sustained beyond a 75-year time horizon.
The nation's children have a huge stake in the preservation of Social Security. Even more than their parents and grandparents, they stand to gain the most from the organized efforts of older Americans to strengthen the program, not cut it.