Top of the Morning

Top of the morning

If you haven’t already read the latest column from Robert Reich, you need to. It is the clearest and most succinct summary of what is going on with the economy that I have seen in while. 

It’s all about what he calls the Big Lie that the Republicans are telling and the Democrats’ unwillingness to challenge them on it.

The Big Lie is that our economic problems are due to a government that’s too large, and therefore the solution is to shrink it.

The truth is our economic problems stem from the biggest concentration of income and wealth at the top since 1928, combined with stagnant incomes for most of the rest of us. The result: Americans no longer have the purchasing power to keep the economy going at full capacity

2 Comments


  1. Raleigh Needs Progressive Talk Radio

    January 5, 2011 at 10:47 am

    thanks for sharing Chris….this was also up on Common Dreams…Are you guys doing any in-depth reports on the originators of the right wing ‘Big Lie’ techniques here in NC? Im talking about the increasingly consolidated corporate media, where guys who vote Republican are in charge.

  2. Nonanonymous

    January 5, 2011 at 12:29 pm

    The lynch pin of RR’s column is this, “The long-term solution is to spread the benefits of economic growth more widely (for example, through a more progressive income tax, a larger EITC, an exemption on the first $20K of income from payroll taxes and application of payroll taxes to incomes over $250K, stronger unions, and more and better investments in education and infrastructure.)”

    Here is where I fundamentally and philosophically differ with the sentiments expressed by RR. “Spread the benefits of economic growth” by raising taxes on those who work and giving it to those who don’t work is a disincentive to work.

    Taxes are going to be increased on the wealthy because the majority of Americans want it to be thus. It’s not going to fix our long term problems because we’re going down the deficit tunnel, and the light at the end of the tunnel is a train coming the other way.

    I notice RR doesn’t mention the $50T in unfunded federal entitlements already incurred by the post WWII generation. Until this funding gap is addressed, everything else is just feel good rhetoric.

Check Also

Anthony Scaramucci thought HB2 was “shameful”

Anthony Scaramucci, President Trump’s new communications director, was ...

Top Stories from NCPW

  • News
  • Commentary

The controversy over “Silent Sam,” the Confederate monument on UNC’s Chapel Hill campus, has been ra [...]

North Carolina tries to mine its swine and deal with a poop problem that keeps piling up A blanket o [...]

This story is part of "Peak Pig," an examination of the hog industry co-published with Env [...]

Few issues in the North Carolina’s contentious policy wars have been more consistently front and cen [...]

Five years ago, the U.S. Department of Justice (DOJ) filed a jaw-dropping civil rights lawsuit again [...]

Will Burr and Tillis really vote for this? For much of the 20th Century, one of the labels that Amer [...]

President Trump and Congressional Republicans aim to rebrand enormous tax cuts for the wealthiest ho [...]

20—number of years since a bipartisan coalition in Congress passed the Children’s Health Insurance P [...]

Spotlight on Journalism

We invite you to join a special celebration of investigative journalism! The evening will feature Mike Rezendes, a member of the Pulitzer Prize-winning Boston Globe Spotlight Team known for their coverage of the cover-up of sexual abuse in the Catholic Church.

Tickets available NOW!

Spotlight On Journalism

This event will benefit NC Policy Watch, a project of the North Carolina Justice Center. Sponsorship opportunities available now!

Featured | Special Projects

NC Budget 2017
The maze of the NC Budget is complex. Follow the stories to follow the money.
Read more


NC Redistricting 2017
New map, new districts, new lawmakers. Here’s what you need to know about gerrymandering in NC.
Read more