Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend  
Printer Friendly Page Save As Favorite Save As Favorite View Article Stats
No comments

Exclusive to OpEdNews:
OpEdNews Op Eds

The Axis of Middle Class Misfortune

By (about the author)     Permalink       (Page 2 of 2 pages)
Related Topic(s): ; ; ; ; ; ; ; ; ; ; (more...) ; ; ; , Add Tags  (less...) Add to My Group(s)

Inspiring 1  
View Ratings | Rate It

Headlined to H3 5/28/09
Become a Fan
  (5 fans)

Not surprisingly, it paid off.

At the same time, the U.S. Congress re-wrote the rules of campaign finance for federal office, reduced the role of political parties as the middlemen who directed the collection and disbursement of campaign funds, and replaced them with a direct flow from various constituent interest groups to the candidates.

This arrangement locked in the rightward and leftward trajectory of the GOP and Democrats respectively and tied those elected to the money and its interests. And there is now no tie that binds like that between Wall Street, the Congress and the administration.

The axis of middle class misfortune.

In order to restore the prosperity of the American middle class, there must be massive jobs creation. Infrastructure is the place to start.

This will help stimulate American manufacturing, but will not be sufficient to restore it as an engine of American prosperity and take full advantage of the U.S. domestic market of 340 million – a huge asset.

U.S. imports, especially from Asia are declining as a result of the collapse of the U.S. economy. When the economy recovers, the policy of the U.S. must be to depress imports from these and other low wage paying countries, in favor of those from higher wage paying countries like Europe, to put the U.S. on a competitive basis in its domestic market.

U.S. wages must rise and corporate profits decline. But that will never happen so long as Wall Street owns Washington. To break that stranglehold, there must be public financing of federal elections.

Next Page  1  |  2

Author of the forthcoming novel "Pursuits of Happiness," a director of the Public Banking Institute and chairman of the Pennsylvania Project. Mike is an international transportation and logisics executive with broad experience in U.S. government and (more...)
Add this Page to Facebook!   Submit to Twitter   Submit to Reddit   Submit to Stumble Upon   Pin It!   Fark It!   Tell A Friend
The views expressed in this article are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.

Writers Guidelines

Contact Author Contact Editor View Authors' Articles

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

Pennsylvania: broke, unless you count the $91 billion

Lou Dobbs: Overpopulation threatens all that makes America great

Public Banks: helping workers by helping people

Sleepwalking to Armageddon?

The Money Monopoly

Shilling for Wall Street


The time limit for entering new comments on this article has expired.

This limit can be removed. Our paid membership program is designed to give you many benefits, such as removing this time limit. To learn more, please click here.

Comments: Expand   Shrink   Hide  
No comments