A Daily news digest by Jasper van Santen

‘Big Government’ Isn’t the Problem, Big Money Is – The Nation

In News, Politics on March 25, 2012 at 16:14

‘Big Government’ Isn’t the Problem, Big Money Is

Homeowners can’t use bankruptcy to reorganize their mortgage loans because the banks have engineered laws to prohibit this. Banks have also made it extremely difficult for young people to use bankruptcy to reorganize their student loans. Yet corporations routinely use bankruptcy to renege on contracts. American Airlines, which is in bankruptcy, plans to fire 13,000 people—
16 percent of its workforce—while cutting back health benefits for current employees. It also intended to terminate its underfunded pension plans, until the government agency charged with picking up the tab screamed so loudly that American backed off and proposed to freeze the plans.

Conservatives love to rail against “big government.” But the surge of cynicism engulfing the nation isn’t about government’s size. It flows from a growing perception that government doesn’t work for average people but for big business, Wall Street and the very rich—who, in effect, have bought it. In a recent Pew poll, 77 percent of respondents said too much power is in the hands of a few rich people and corporations.

 

 

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