Why the Fed’s Jobs Program Will Fail

robertreich.org — Republicans want to make corporations and the wealthy even richer — demanding tax cuts and roll-backs of regulations on the pretense that companies and the wealthy are the “job creators.” But the real job creators are America’s middle class and all those aspiring to join it, whose purchases propel the economy forward. And whose declining earnings are holding the economy back. So two cheers for Ben Bernanke and the Fed. They’re doing what they can. The failure is in the rest of the government — at both the federal and state levels — still dominated by deficit hawks, supply-siders, and witting and unwitting lackeys of big corporations and the wealthy.

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