The real triumph of the right has come in shaping the national conversation around the size of government and the budget deficit – thereby diverting attention from what’s really going on: the increasing concentration of the nation’s income and wealth at the very top, while most Americans fall further and further behind.But the commitment to deficit-reduction, even in a depression and a week recovery, seems to be heavily ingrained in today's Democrats. It needs to change.
Continuing cuts in the budget deficit – through the sequester or a deficit agreement — will only worsen this by reducing total demand for goods and services and by eliminating programs that hard-pressed Americans depend on.
The President and Democrats should re-frame the national conversation around widening inequality. They could start by demanding an increase in the minimum wage and a larger Earned Income Tax Credit. (The President doesn’t’ even have to wait for Congress to act. He can raise the minimum wage for government contractors through an executive order.)
I'm ready for the end of "Obamaism," i.e., conservative economics married with an obsessive pursuit of "bipartisanship" with the Republicans as though it were an end in itself.
Tags: austerity economics, us economy