Pat Caldwell on Elizabeth Warrens speech to the AFL-CIO today: -Erika Elizabeth Warren says Americas middle class is in deep trouble. Although general economic indicators are on the rise, the Massachusetts senator argued in a speech Wednesday morning, pay has stagnated for all but the richest Americans—and trickle-down voodoo economics and loose Wall Street regulation are to blame. And although Warren has given every indication that shes happy to remain in the Senate and pass on liberals hopes that shell run for president in 2016, her speech—at an AFL-CIO conference on wages—had the tone of a presidential campaign barnstormer. Warren kicked off her address by noting that the current economic recovery, while real, hasnt helped most Americans. The stock markets up, but half the country doesnt own any stocks. Inflation is low, but that doesnt matter for millennials burdened by overwhelming student debt. Corporate profits have risen, but that hardly matters to people who work at Walmart and are paid so little that they still need food stamps, Warren said. This divergence between the rich and the rest has been long in the making, Warren said. Since the 1980s, she noted, wages have actually fallen for everyone outside the wealthiest 10 percent of Americans. All of the new money earned in this economy over the past generation—all that growth in the GDP—went to the top, Warren said.
Posted on: Wed, 07 Jan 2015 19:37:42 +0000
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