UPDATE: Richard Wolff looks at this issue from another angle: He asks does "stimulus" work and who should pay when it doesn't, truthout, video, (05:12)?
Robert Reich:
So the problem isn't that "we've" been spending too much. It's that most Americans have been getting a steadily smaller share of the nation's total income.
At the same time, the super-rich have been contributing a steadily-declining share of their own incomes in taxes to support what the nation needs -- both at the federal and at the state levels.
The coming showdowns and shutdowns must not mask what's going on. Democrats should make sure the public understands what's really at stake.
Yes, of course, wasteful and unnecessary spending should be cut. That means much of the defense budget, along with agricultural subsidies and other forms of corporate welfare. MORE...
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