Saturday, May 28, 2011

After the crash: the pauperisation of middle-class America

They can even see it from Europe. Why can't we see it here?


After the crash: the pauperisation of middle-class America | Richard Wolff | Comment is free | guardian.co.uk

Obviously, both Republicans and Democrats are agreed to do nothing more that quibble over insignificant margins of so huge a deficit. Meanwhile, they perform live political theatre about their "deep concern about deficits and debts" for a bemused, bored and ever-more alienated public.

Neither party can shake off its utter dependence now on corporate and rich citizens' monies for all their financial sustenance. Therefore, neither party imagines, let alone explores, alternatives to massive deficits and debts. After all, government deficits and debts mean: first, the government is not taxing corporations and the rich; and second, the government is, instead, borrowing from them and paying them interest. So, the two parties quibble over how much to cut which government jobs and public services.

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