ABC News This Week - The Economy with Robert Reich
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Uploaded by zdouggrant on Jun 12, 2011
This Week with Christiana Amanpour, June 12, 2011. Robert Reich and others debate remedies for recovery of the U. S. economy.
Reich stated clearly on this program what the politicians don't understand. He's baffled by "the deafening silence" in Washington on both sides of the aisle about the jobs problem. He's dead-on! His key arguments:
1. Consumer demand accounts for 75% of GDP. We cannot have an economic recovery without a recovery in consumer demand
2. The problem in the economy NOW is jobs, but the politicians are focusing on the deficit and the debt ceiling -- important long-term issues, but not the critical to economic recovery
3. Reich understands the depressing wealth effect of the housing bust on consumer spending. His suggestion to revise bankruptcy laws to allow forgiveness of mortgage debt makes sense.
4. Reich had argued that Obama's recovery program didn't go far enough. Now that we are indeed in a weak recovery, ironically, Rs are now claiming that ANY stimulus program doesn't work - a logical fallacy with potentially tragic consequences.
I appreciated Reich's non-partisan tone - pitch perfect on the show - what we need now. Keep up the good work Robert Reich!!
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I see the only man who can save us is RON PAUL
ccmac54 2 months ago
wow, usa is just seriously going to fail. i mean they just cant think outside the box. im afraid id say england will save usa before there own government does
imfrickenawesomeable 9 months ago