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Reply #4: Public works programs are temporary fixes [View All]

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Home » Discuss » General Discussion: Presidency

DJ13

(1000+ posts) Send PM | Profile | Ignore

Mon Jan-25-10 03:21 PM
Response to Original message

4. Public works programs are temporary fixes

Our country has been deliberately de-industrializing since the mid 80's, and as a result the middle class has been shrinking ever since.

Everything about the current crisis stems from that policy.

Credit bubble? People were supplementing stagnant (or declining) wages with credit.

Stock market bubble? People were supplementing lower wages by gambling on stocks.

We need real, long term job growth comprised of solid middle class wages if we are to correct the underlying reasons our economy blew up.

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