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In reply to the discussion: And the hits just keep coming.... Bernie Sanders: The Model of the Democratic Party Is Failing [View all]SunSeeker
(51,550 posts)If you read "lots" of Paul Krugman you'd know that. The Glass-Steagall Act was established in 1933 as the 1933 Banking Act. This act had been gutted so much by the time it was repealed in 1999 that it was a skeleton of it's old self. I agreed with Hillary Clinton that a new law needed to be written to address today's problems and trading systems. Paul Krugman agreed with Hillary. He said her plan was better.
Thanks to gerrymandering, the GOP has outsized control over our government, further fueled by Citizens United. That is why they are able to out-message Dems and convince people that they should vote for them over Dems. They've even managed to convince so-called progressives to vote against Dems and blame Dems for their economic plight. And thus we have the situation we are in now.
Before the Republican Great Recession, wages were not great and had been stagnating for a decade, but only 20 percent of American jobs were considered low-wage poverty work. Since their Great Recession, over 60 percent of recovery jobs are poverty-wage employment and it has been very profitable for business. Democrats unsucessfully tried to get Republicans to raise wages and create real middle class jobs with infrastructure spending, but the GOP would have none of it and filibustered such attempts. Obama only had a filibuster proof majority for 24 working days. It is simply wrong to claim Dems did not try hard enough or were complicit.