On June 1, the Labor Department reported that only 69,000 net new jobs were created in May, less than half of what economists had expected and less than a third of the relatively strong job growth of the December through February period. Immediately the Republicans and the Romney campaign blamed President Obama and his policies, especially the health care reform act. The Democrats and the Obama administration quickly fired back, blaming the Republicans for blocking their economic stimulus proposals in Congress.
Minneapolis, MN – With the theme of “People before profits” and inspired by the Occupy Wall Street protests in New York, a similar occupation will start on Friday, Oct. 7 at 9:00 a.m. in Minneapolis. The Minneapolis occupation will be at Government Plaza (300 South 6th Street, downtown Minneapolis). The Occupy MN movement has already renamed it “People’s Plaza.” This is one of many ongoing occupations that have sprung up around the country since the Wall Street occupation began on Sept. 17.
On June 19th the *Washington Post* published “With Executive Pay, Rich Pull Away from Rest of America” by Peter Whoriskey. This very informative article connected the rise in corporate executive’s pay with the growing economic inequality in the United States, using the example of a large U.S. dairy company combined with recent research by economists on high incomes. At the same time the article only offered very vague explanations for *why* the rich are winning out at the expense of almost everyone else.
When the House of Representatives bowed to popular anger and defeated the Bush administration’s $700 billion bailout bill on Sept. 29, 2008, Wall Street was dealt a stunning defeat. The next day, the Senate took the same bill and loaded it up with $100 billion dollars of tax breaks (including one for makers of wooden arrows). The Senate passed the bill the next day, which went on to pass in the House on Oct. 3.