08.04.11

Wealth and income inequality

Posted in Deficit, Economy, Wealth inequality at 1:51 pm by angela

This Al-Jazeera documentary says what no American media outlet will say, now that the “deficit-cutting” compromise is a foregone conclusion.

As government spending is slashed, all the money that is not spent will result in revenues lost, leading to decreased demand, followed by more loss in jobs. Over a million jobs will be lost to this first phase of spending cuts.