More Economy Woes

It's a good thing that Obama and other candidates are addressing the economy, as it is also good that the Congress and the President worked together to pass the Economic Stimulus package.

However, there is still much to be done. Robert Reich, professor of public policy at the University of California, has more to say, first predicting that "This time, consumers won't be able to save the America economy."

Reich continues, "The only lasting remedy, other than for Americans to accept a lower standard of living and for businesses to adjust to a smaller economy, is to give middle and lower income Americans more buying power and not just temporarily ... The underlying problem has been bulding for decades. America's median hourly wage is barely higher than it was 35 years ago, adjusted for inflation. The income of a man in his 30's is now 12 percent lower than that of a man his age three decades ago. MOst of what's been earned in America since then has gone to the richest 5 percent." Read more: "Totally Spent," The New York Times.