It’s Time to Study Social Security’s Origins

It’s Time to Study Social Security’s Origins

After a bubble economy burst, the stock market collapsed. Main street businesses began to fold and jobs soon vanished. Millions of job seekers remained unemployed as the months turned into years. Both government and personal debt soared. The best economic minds in...

The Tea Party Downgrade: Gambling America’s Future on Wall Street

The downgrading of the U.S. economy by Standard & Poor’s exposes a grim reality: that the economic recovery from the 2008 Wall Street debacle was fiction. That fiction is becoming more evident every day as mothers and fathers try to feed their children while...

America’s Real Job Creators are Broke

As narrators used to say in Western movies: “Meanwhile, back at the ranch…” Our policymakers in Washington have totally lost sight of what’s happening at the ranch. John Boehner’s GOP-controlled House and Barack Obama’s White House...
Getting Main Street to Call the Shots

Getting Main Street to Call the Shots

Thanks to massive bailout funding from the Federal Reserve and U.S. Treasury, Wall Street survived the financial crash it created. This year, its titans are enjoying record share prices, corporate profits, and executive bonuses. The financial assets of America’s...
This Recession Isn’t Temporary

This Recession Isn’t Temporary

Job dried up, The money’s bad; Moved back in With Mom and Dad. I love economists — they’re so optimistic. Maybe they’re no used car salesmen, but they’re never as gloomy as the data they traffic in. The reason for all this sunshine is...

We’re Not Broke, Just Twisted

“We’re broke.” Or so claim governors and lawmakers all over the country. Our states and our nation can no longer afford, their plaint goes, the programs and services that Americans expect government to provide. We must do with less. We need...

Entrepreneurship by Necessity

There’s a silver lining in the dark cloud of the Great Recession. A new Census Bureau report reveals that from 2002 to 2007, the number of black-owned businesses in the United States increased by 60.5 percent to 1.9 million–more than triple the national...

At Last, Larry’s Going Away

Thank God and Harvard–Larry Summers is going away. But not before doing extraordinary damage to America’s middle class and to the man who hired him. Summers, chief architect of Barack Obama’s squirrelly Wall Street policies, says he’ll move on...

Raise the Minimum Wage

When he was campaigning in 2008, President Barack Obama promised to raise the federal minimum wage, declaring “people who work full-time should not live in poverty.” Obama proposed raising it to $9.50 by 2011. That would merely adjust the minimum wage for...

Recession? What Recession?

Downturn’s over, Factories throb; How come I Don’t have a job? You may not be familiar with the National Bureau of Economic Research. Who is? Regardless, it’s the official determiner of when we are in a recession and when we are not. Right now, we...

Austerity Won’t Restore our Prosperity

In case you haven’t heard, the economy is not in great shape. We’ve got 10 percent unemployment, home foreclosures are soaring, and the national debt is exploding. The future looks even worse. Some people think inflation is on the way; others think...