TV News LIES

Monday, Mar 18th

Last update06:28:22 AM GMT

You are here News Economy Why Aren’t More Americans Fired Up About Inequality?

Why Aren’t More Americans Fired Up About Inequality?

E-mail Print PDF

Inequity in the USWith news of record corporate profits and increased bonuses for those at the top of the financial heap — and on-going income stagnation, job loss, and rising poverty for those in the middle and bottom of the ladder—it’s maddening for progressives to hear our political elites continuing to promote austerity as a means for growth.

Just a year and half ago, Occupy Wall Street was all anyone could talk about.  President Obama won a historic second term running on these themes and announced a new era of liberal governance in his recent Inaugural address.  Yet, even with strong evidence out of Europe that austerity is failing, and public opinion polls in the U.S. showing clear opposition to rising inequality, the political class in Washington is collectively trying to convince itself that America can cut its way to prosperity and economic opportunity for the middle class.

What happened?  And why aren’t we seeing more social protests against an economic and political order that sanctions these outcomes?

There are many culprits in this development, chief of which is the intersection of libertarian economic theory with control of one political party that has strong minority voting power in our constitutional system.  The long term decline of the labor movement and the corporate ownership of media provide additional institutional explanations for why there is not more pushback.

But a more painful explanation might be closer to home.

More...


Most Recent Related Stories...


Wall Street braces for commercial real estate time bomb

Jerome Powell Remarks last week by Federal Reserve Chair Jerome Powell about a spate of coming bank failures...

US stock markets close at record highs as enthusiasm for AI drives gains

Stock Market closes at all time high US stock markets closed at record highs on Friday powered by investors’ continued enthusiasm for artificial...

US adds 275,000 jobs in February as labor market continues to grow

US adds 275,00 more jobs in February Employers added 275,000 jobs across the US last month, as the labor market continues to grow...

Macy's to close 150 stores in new turnaround effort, forecasts weak 2024 sales

Macy's to close 150Macy's on Tuesday forecast annual sales and profit below expectations and said it would shutter about...
 
America's # 1 Enemy
Tee Shirt
& Help Support TvNewsLIES.org!
TVNL Tee Shirt
 
TVNL TOTE BAG
Conserve our Planet
& Help Support TvNewsLIES.org!
 
Get your 9/11 & Media
Deception Dollars
& Help Support TvNewsLIES.org!
 
The Loaded Deck
The First & the Best!
The Media & Bush Admin Exposed!