As columnist Mark Shield’s succinctly stated, “The new American economy is not an accident. …We privatized profits and socialized losses.” Corporate media propagandists now tell us the economy is “coming back.” No, it is a different economy: one in which the average worker cannot make a living wage, while the nation’s wealth is intentionally trapped in the pockets of the top 2 percent.
When all-powerful corporate lobbyists write legislation for corrupt politicians, it’s no coincidence that during Obama’s administration Wall Street wealth doubles, the biggest banks and corporations make record profits, but real wages of the working- and middle-class decline, and their pensions are looted. American workers don’t want a hand-out or an “entitlement,” but a living wage. If Obama does not address this crisis with concrete legislation, instead of a mere feel-good speech, history will remember him as nothing but a shill for Wall Street.