The conservative government in England is trying austerity. They are using the shock-doctrine tactic of drumming up...
Sober central bankers the world over — and their political pals — have been hyperventilating the last few months about the debts of the world’s most notorious deadbeat nations.
Over in Old Europe, we have Greece with a standing debt of some $485 billion. Over here in the New World, meanwhile, the United States owes some $9.4 trillion to the outside investing public.
“Crushing” debts like these, the debt hawks squawk, have only one remedy. The average people of deadbeat nations must swallow hard and accept austerity. They must shut down their libraries and overcrowd their classrooms — and start selling off their public assets as well. Anybody want to buy the Parthenon?
The “Celtic Tiger” — the Irish economy — has clawed its way back from near extinction, according to the Heritage Foundation. The irony is that the things that Heritage praises about Ireland’s economy are what drove it to the brink of extinction. The “Celtic Tiger” has been caged, de-clawed and neutered. And it was conservative economic policy that did it.
That’s why Heritage keeps bringing it up. It’s hard for conservatives to ignore Ireland, because Ireland was an example of the “success” of conservative economics. Until it wasn’t.
There are good jobs and there are crappy jobs. There are burger-flipping jobs and there are skilled trades and professions. There are jobs that pay well and have benefits and jobs that don’t.
There is even the job you had, now paying less, with no benefits.
Earlier this week, I made a case for an investment agenda for America. Now, a report from The Working Poor Families Project has underscored the urgent need for an economic agenda based on investing in the American people and preparing our workforce not just to compete in the new economy, but to pull us out of crisis and into a recovery from which we may start building a new economy. The report’s title, “Great Recession Hit Hard at America’s Working Poor: Nearly 1 in 3 Working Families in United States are Low-Income,” (pdf) says it all.