democracynow·
Published on Jul 25, 2013
http://www.democracynow.org
- Kicking off a series of speeches about the economy, President Obama
told a crowd in Illinois on Wednesday that reversing growing inequality
and rejuvenating the middle class "has to be Washington's highest
priority." During his remarks, Obama failed to mention the bankruptcy
filing by Detroit, where thousands of public workers are now fighting to
protect their pensions and medical benefits as the city threatens
massive cuts to overcome an estimated $18 billion in debt. Detroit's
bankruptcy "is an example of a failed economic system," says economist
Richard Wolff, professor emeritus of economics at University of
Massachusetts. "There are so many other cities in Detroit's situation,
that if the courts decide that it is legal to take away the pension that
has been promised to and paid for by these workers, you have
[legalized] theft. It is class war, redistributing income from the
bottom to the top."Read Transcripts Here
Related articles
No comments:
Post a Comment
Hello and thank you for visiting my blog. Please share your thoughts and leave a comment :)