Carl Hitchens - tracking the self …
Carl Hitchens - tracking the self …
2011
Former Labor Secretary Robert Reich explaining what went wrong with America's economy in just 2 minutes and 15 seconds.
Summary:
1. Economy doubles since 1980, but wages flat. Where did the money go?
2.All gains from the economy go to the super rich, and . . .
3.With money comes political power. Taxes on Super rich slashed, revenues evaporate. This lead to . . .
4.Huge budget deficits. Middle class agitated, fight for scraps.
5.Middle class divided. Buying and borrowing slow. Resulting in:
6.Anemic recovery.
It really is just this simple.
Carl
The Truth About the Economy
6/16/11