The US economy shrank in the first quarter of the year, according to data released this morning -- the first time it has declined in three years. This doesnt mean were heading into another recession but it does illustrate the extraordinary fragility of this recovery, the most anemic in history. And as long as Republicans insist on austerity and employers fail to give average workers a share of the gains, were going to be living with painfully slow growth for years to come -- and a vicious cycle of declining real median household incomes, widening inequality, near record low percentages of the working-age population in jobs, and increasing economic insecurity. The only silver lining is all this might push the public -- along with HRC, Elizabeth Warren, and any other potential presidential candidate for 2016 -- toward far more boldness about what must be done.
Posted on: Thu, 29 May 2014 15:10:30 +0000
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