Agreed, but Democrats also need to stop kidding themselves into thinking Obama has any interest in changing this dysfunctional corporatist system. With the revolving door between Washington and Wall Street as active as it's ever been, there's no sign of reforming our broken system. Whether it's White House economists departing for million dollar Wall Street jobs, members of Congress and their staff jumping ship to make more money as lobbyists or generals retiring and then stepping into lucrative jobs with defense contractors, there's not much hope of finding enough people to vote for and deliver the changes required. Americans all too often like to point the finger overseas when they talk about corruption, but we needn't look beyond our own border. We are the new banana republic.
Robert Reich:
He said his administration will "help lay the foundation for you to grow and innovate," by eliminating "barriers that make it harder for you to compete - from the tax code to the regulatory system," and by completing more trade deals.
In return, the president said he wants businesses to hire more Americans. "Many of your own economists and salespeople are now forecasting a healthy increase in demand. So I want to encourage you to get in the game," he said. "And as you hire, you know that more Americans working means more sales, greater demand and higher profits for your companies. We can create a virtuous cycle."
Virtuous cycle? American businesses are doing quite nicely as it is. Their profits are soaring. And one reason they're doing so well is they're holding down costs, especially payrolls. So why would they ever agree to add more workers now?
