David J. Lynch on Bloomberg:
The widening gap between rich and poor is eroding faith in the American dream.
By almost two to one — 64 percent to 33 percent — Americans say the U.S. no longer offers everyone an equal chance to get ahead, according to a Bloomberg National Poll.
…The lack of faith is especially pronounced among those making less than $50,000 a year: By a 73 percent to 24 percent margin, they say the economy is unfair. Even 60 percent of those whose annual income is $100,000 or more bemoan the absence of a fair deal…
In the Bloomberg poll, 68 percent of Americans say the income gap is growing, while 18 percent say it is unchanged and 10 percent say it’s shrinking.
After 30 years of trickle-down economics, very few Americans can be fooled anymore. Democrats like President Obama have been forced to acknowledge the problem of extreme inequality, but what are they prepared to do about it?
The budget deal announced yesterday is the opposite of what we need. The Democratic Party sold out its own base to help Republicans maintain power.
UPDATE: Robert Reich: Raw Deal