However you look at Friday’s jobs report, it’s a stunning reminder of how anemic the recovery has been – and how perilously close the nation is to falling into another recession, writes Robert Reich.
Robert Reich is Chancellor’s Professor of Public Policy at the University of California at Berkeley. He has served in three national administrations, most recently as secretary of labor under President Bill Clinton. He has written 11 books (including his most recent, “Supercapitalism,” which is now out in paperback).
Jobs are coming back fast enough to blunt Republican attacks against Obama on the economy, but jobs aren’t coming back fast enough to significantly reduce the nation’s backlog of 10 million jobs, writes Robert Reich.
Most Americans still believe in the ideal of equal opportunity. And most harbor the patriotic notion that we have responsibilities to one another as members of the same society. The two principles lead to an obvious conclusion: America’s richest citizens have a duty to pay more taxes so kids from middle and lower-income families have chance to make it, writes Robert Reich.
Never before in the history of American politics has a single couple given more money to a single candidate and had a bigger impact, writes Robert Reich.
A loophole in the tax laws allows private-equity managers like Mitt Romney to treat their compensation as capital gains. It’s legal but it’s a scandal, writes Robert Reich.
Friday’s good news is likely to raise the hopes of the great army of the discouraged – many of whom will now start looking for work. But If they don’t find a job, they’ll be counted as unemployed, which means the unemployment rate will very likely edge upward in coming months, writes Robert Reich.
Former Labor Secretary Robert Reich proposes a quid pro quo to President Obama: Commit to doing what needs to be done in your second term, and your supporters will work tirelessly to get you reelected.
For Robert Reich, the president’s Kansas speech was the most important of his presidency in terms of connecting the dots, laying out the reasons behind our economic and political crises, and asserting a willingness to take on the powerful and the privileged that have gamed the system to their advantage.
Today’s jobs report is a step in the right direction, but we’re not out of the woods yet, writes Robert Reich.