Congress will reconvene shortly. That means more battles over taxes and spending, regulations and safety nets, and how to get the economy out of first gear. Which means more gridlock and continual showdowns over budget resolutions and the debt ceiling.
But before the hostilities start again and we all get lost in puerile politics and petty tactics, it’s useful to consider what’s really at stake for our economy and democracy.
For much of the past century, the basic bargain at the heart of America was that employers paid their workers enough to buy what American employers were selling. Government’s role was to encourage and enforce this bargain. We thereby created a virtuous cycle of higher living standards, more jobs, and better wages. And a democracy that worked reasonably well.
But the bargain has been broken. And until it’s remade, the economy can’t mend and our democracy won’t be responsive to the majority.
Moar here.
