Robert Reich is absolutely right that Pres. Obama needs to stop comparing himself to Bill Clinton in 1994-95 and change direction immediately, embracing the "People's Party," fighting Republican attempts to deepen the recession and destroy the employment recovery through excessive budget cuts, and making the case for (1) more revenue by eliminating corporate tax breaks and most deductions for the very richest; and, even more importantly (2) NOT cutting vital social spending; and (3) more stimulus and infrastructure investment to get production and job growth going.
He needs to make the case that this is the way both to recover from the Great Recession, which was caused by the greatest debt bubble in history, AND, ultimately, to address the public debt, which can only be reduced by a combination of growth in the economy and increases in revenue.
11 March 2011
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