Why aren't Americans being told the truth about the economy? We're heading in the direction of a double dip -- but you'd never know it if you listened to the upbeat messages coming out of Wall Street and Washington.
What worries me almost as much as the Republican's repeated big lies about jobs is the silence of President Obama and Democratic leaders in the face of them. Obama has the bully pulpit. Republicans don't.
The world's third largest economy suffers a giant earthquake. A civil war in Libya and tumult in the Middle East cause crude-oil prices to climb. Poor harvests around the world make food prices soar. And Washington is doing nothing.
Profit-making corporations have every incentive to underestimate the probabilities of potential disasters and lowball the likely externalized harms. This is why it's necessary to have such things as government regulators.
In theory an extraordinary bull market should be making Americans feel far wealthier than they felt two years ago. But in reality, the vast majority of Americans don't feel wealthier because they hold few if any shares of stock.
The problem with paying political ransom is that when you pay it once, you're almost begging to pay it again. And that's exactly the pickle the Obama administration and Democrats are finding themselves in.
MONEY has always been the most corrupting influence in our politics, a fact that is now on full display in Republican-controlled state houses across the midwest that are voting against public employees' right to collective bargaining.
On our current trajectory, the unemployment rate will continue to decline. But so will the pay and benefits of most Americans. The real story isn't about jobs, it's about the ever decreasing standard of living for the middle class.
The truth that Obama must tell the American people is that government spending has absolutely nothing to do with high unemployment, declining wages, falling home prices, and all the other travesties that continue to haunt most Americans.
America is the richest nation in the world, and we've never been richer. There's no reason for us to turn on our teachers, our unionized workers, our poor and needy, and our elderly. The notion that we can no longer afford it is claptrap.
It will soon become evident to most Americans that the only way to reduce the budget deficit, preserve programs deemed essential by the middle class, and not raise taxes on the middle, is to tax the top.
The reason we have continued sky-high unemployment has nothing to do with excessive regulation. There was no sudden outpouring of federal regulation in 2007 before the economy tanked and millions lost their jobs.
At a time when corporate profits are through the roof, the Dow is flirting with 12,000, Wall Street paychecks are fat again, and big corporations are sitting on more than $1 trillion in cash, you'd expect jobs be coming back. But you'd be wrong.
Democrats want to hear that America's trade problems are caused by exploitative capitalism. But the problem is that corporate pursuit of profit has been decoupled from the success of the economy as a whole.