Thursday, June 16, 2011

The Truth About the Economy

Robert Reich explains what's happening with the economy in about 2 minutes. It's a great video. Here are the major points:

- The economy has doubled since 1980, but wages flat.
- All gains went to the super rich.
- With money comes the political power to cut taxes for the rich.
- The result is huge budget deficits that require cuts to important programs.
- The middle class is divided. Buying and borrowing slows down.
- Anemic recovery/economy.

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