As consumer spending decreases credit dries up, businesses purchase less and lay-off employees thus creating a downward economic spiral. This can only be reversed by focused and bold government action, particularly at the federal level. While the Obama administration has made half-steps towards addressing some of these problems with the Economic Stimulus package 0f 2009 and the Financial Reform Act of 2010, the basic underlying problems still persist, and unless reversed will inevitably lead to future economic shocks, chronic unemployment, and increasing income inequality.
The incredibly rapid shift in the political climate in America has brought to light an important dynamic in our nation. Just three short years ago, Karl Rove was talking about a permanent Republican majority. What can account for such a rapid turn around? What could explain how our country could shift so rapidly from one […]