Category Archives: Infrastructure

I’m a Rust Belt Democrat From a Swing District. Anti-Tariff Absolutism Is a Mistake.

A black-and-white photograph of a car’s rearview mirror showing an industrial plant.
Credit…Eli Reed/Magnum Photos

By Chris Deluzio

Mr. Deluzio represents Pennsylvania’s 17th Congressional District.

The New York Times Op-Ed

March 7, 2025 – Democrats have wasted no time rejecting President Trump’s tariffs as “damaging” and “unnecessary.” My colleagues have lampooned them as “irresponsible,” “bad economics” and purely a tax on consumers. This anti-tariff absolutism is a mistake.

I’m a Rust Belt Democrat from a swing district in Western Pennsylvania — where lousy trade deals like NAFTA stripped us for parts.

Many of my constituents support smart tariffs, particularly ones that target China, and so do I. Watching my colleagues on the Hill, it’s clear we’re missing the mark. Democrats need to break free from the wrong-for-decades zombie horde of neoliberal economists who think tariffs are always bad.

Mr. Trump’s tariff approach has been chaotic and inconsistent. There’s no doubt about that. But the answer isn’t to condemn tariffs across the board. That risks putting the Democrats even further out of touch with the hard-working people who used to be the lifeblood of the party — people like my constituents.

Instead, Democrats should embrace tariffs as one component of a broader industrial strategy to revitalize American manufacturing and make whole communities that have been hollowed out by decades of bad trade policy. This isn’t just about making the economy work for more Americans; it’s also about earning back the trust and faith of the people we need to win elections and who ought to be at the heart of the Democratic Party.

Since the 1990s, presidents from both parties pushed trade agreements that were great for corporate bosses and their Wall Street overlords, but a disaster for districts like mine. American companies offshored production to take advantage of cheap labor in countries like Mexico, which for decades have crushed independent unions to keep wages rock bottom. Later, firms shifted production to China and Vietnam, which are often called out for employing beggar-thy-neighbor tactics like wage suppression, enormous subsidies and currency manipulation to jack up their exports.

For too long, we absorbed these unfair imports and created a chronic trade deficit that deindustrialized our nation and fueled income inequality. In 2004, the grandfather of modern trade economics, Nobel Laureate Paul Samuelson, revealed how offshoring could cost American workers more in relative wages than they gained from cheaper imported goods, making the current trade regime a bad deal for most Americans.

Tariffs are one of a few tools that can break this cycle: They force mercantilist countries to increase their domestic consumption of what they produce because they can no longer dump it in the United States. Increasingly, policymakers — of all political stripes — recognize that tariffs can help protect industries that are key to our economic and national security, boost American production and wages, and safeguard workers’ rights as well as our air and water by incentivizing firms to raise their labor and environmental standards.

If you oppose all tariffs, you are essentially signaling that you are comfortable with exploited foreign workers making your stuff at the expense of American workers. I am not and neither are most voters. Many polls show that Americans — especially the three-fifths without college degrees — support tariffs in part, economists have suggested, because communities harmed by global competition view them “as a sign of political solidarity.” The Biden administration, to its credit, tripled tariffs on Chinese steel and aluminum imports. So, why is the Democrats’ only message on tariffs that they raise prices? That was the play during the 2024 election and it flopped. Just last month, a CBS poll found that a majority of Americans one, thought Mr. Trump was not focused enough on lowering prices, two, believed that tariffs could increase prices and three, still wanted tariffs on China.

Rather than reflexively condemning all tariffs, Democrats should be highlighting how Mr. Trump’s scattershot threats, unanchored to any real industrial strategy, will not deliver on the goals of rebuilding American manufacturing, raising wages or rebalancing trade.

For one thing, tariffs are effective only when used in a predictable and stable way — and the Trump administration’s approach has been anything but. On Feb. 1, Mr. Trump announced he was imposing new 10 percent tariffs on China and fixing part of a trade scam that allows four million packages to enter the United States daily without facing tariffs, taxes or meaningful inspection — simply because they’re labeled “low value.” Not only does this “de minimis” loophole undermine U.S. producers and retailers, but traffickers also often exploit it to sneak in deadly fentanyl-laced pills and fentanyl precursor chemicals. Days after his announcement, Mr. Trump flip-flopped and reopened the loophole. He raised China tariffs another 10 percent on March 4 — good! But still, the loophole means billions in Chinese imports can evade tariffs and inspections.

Mr. Trump’s chaotic tariff two-step — imposing, delaying, threatening and then again imposing tariffs, including on allies like Canada with whom we mainly have balanced trade — is bad business for America. Entrepreneurs ready to invest in production here sit on the sidelines, wondering where the tariff roller coaster will stop. (Continued)

Pittsburgh Could Be A Green Energy Hub. But Does It Have The Workers?

Photo: High voltage electrical equipment at the University of Pittsburgh’s GRID Institute at the Energy Innovation Center in Pittsburgh’s Hill District on Feb. 10. (Photo by Quinn Glabicki/PublicSource)

As research and investment flow to the region, Pittsburgh strives to develop a workforce to build the green energy future.

By Quinn Glabicki and Alice Crow
PublicSource

February 24, 2025 -Brandon Grainger stood beneath a towering, 13,800-volt webwork of power lines and transformers constructed inside a laboratory at the Energy Innovation Center in the Hill District, home to the University of Pittsburgh’s GRID Institute. Solar panels layer the sawtooth roof and a prototype wind turbine spins high above the parking lot. Both provide energy to the lab, and a research opportunity for those seeking to understand how to best integrate renewable energy.

As power demands increase from booming tech and AI development, the GRID Institute studies how to efficiently get electricity where it’s needed, and Grainger and other professors prepare students to eventually work in advanced industry.

But concerns persist, and a question remains: Do we have enough labor — from doctoral candidates to electricians — to meet the demands of the future?

“Well, the answer is no,” said Granger, an associate professor of electrical engineering. His graduate students, mostly electrical engineers, are being hired nearly eight months before they graduate, he said, and undergraduates, too, are being scooped up by industry well before they leave campus.

Industrial electrical equipment with interconnected metal structures and cylindrical components in a facility.

Southwestern Pennsylvania has the industrial capacity and hard-working heritage to be a bedrock of green energy manufacturing and development at a time when climate-friendly projects awaiting connection to the grid could go a long way toward addressing energy supply challenges.

Research and investment is already flowing to the region, but as green energy development accelerates, the local stock of legacy labor might not match the demand for workers, potentially posing a serious risk to the sector’s development amid quality control issues and delays. At the same time, local efforts are striving to train and graduate new workers to help meet the need. (Next page)

Governor Wolf Talks Revitalization During Aug 11 Visit to Aliquippa

Gov. Tom Wolf, right, stands beside Aliquippa Mayor Dwan Walker on Wednesday in Aliquippa. Wolf visited the city to discuss ways Aliquippa will use the $11 million in state grants it has received since 2015.
Aliquippa Mayor Dwan Walker with Gov Wolf

ALIQUIPPA — Gov. Tom Wolf visited Aliquippa Wednesday morning to take a closer look at what a several-million-dollar investment into the city will look like.

The city was awarded several state grants since 2015 reaching a little over $11 million. Each grant targets innovation and revitalization in the old mill town, which has struggled economically since the demise of the steel industry.

Talking Tykes:Aliquippa: Some of the greatest started here, but it wants to be more than a football town

“If you think about the history of Aliquippa, 51% of the population lived and worked in that mill,” Mayor Dwan Walker said Wednesday. “So why not us? Why not Aliquippa come back as a phoenix rising from the ashes, why not a renaissance in Aliquippa?”

Walker explained what the city has done, and plans to do in the future, with the grant money. 

Some of those projects include reconfiguration of the Route 51 interchange, manufacturing, updated housing and commercial buildings, updated zoning ordinances, pedestrian and vehicle safety measures, and other developments spearheaded by local committees, residents and officials, including the Aliquippa school board, city council and water authority, the city Economic Development Corporation, and others.

Wolf visited the East End Development Site in Aliquippa to see how state investments have helped the city to remove blighted properties and prepare the land near a Route 51 interchange for future business development and prepare to capitalize on the petrochemicals plant that Shell Chemicals is constructing a few miles from the city. 

Aliquippa Mayor Dwan Walker, right, answers questions from the press on Wednesday during a visit from Gov. Tom Wolf, left, to discuss ways the city will use the $11 million in state grants it has received since 2015.

More than $7.7 million of the $11 million will support the East End Development Site.

Some of the investments made in Aliquippa to date include:

  • Grant and low-interest loan financing to perform environmental site assessments and remediation work at former industrial sites through the Industrial Sites Reuse Program.
  • Funding through the Blight Remediation Program to assist with blight remediation.
  • $7 million to reconfigure the Route 51 interchange adjacent to the East End Development site through the TIIF program.
  • $72,500 in Act 47 funding to support Aliquippa in its redevelopment efforts.
  • $365,000 in Keystone Communities funding to demolish commercial buildings at the East End Development site.
  • $500,000 to make pedestrian and vehicular safety improvements to the main corridor on Fifth Avenue through the Multi-Modal Transportation Program
  • $140,233 to complete site preparation and clearance on the Bricks site project.
  • $25,000 through the Municipal Assistance Program to update land-use regulations including the zoning ordinance.
  • More than $2.4 million in Neighborhood Partnership Funding via a donation from BNY Mellon to fund the redevelopment of Aliquippa.

Visiting Aliquippa reminded Wolf of his own town of York. Before getting into politics, the governor said he was involved in revitalizing that community.

“I got into politics because I was concerned about my own community, York,” Wolf said. “And I saw in Dwan the kind of leadership that every community really needs.

“It takes both state and local leadership to make projects like Aliquippa’s effective,” he said.

“There is an inside game and an outside game, and state is the outside game, and we need to do what we can do to help, but it really is a wonderful thing when you have leadership and the energy that you’re showing, Dwan, because Aliquippa early deserves to be back to where it was, and even better,” Wolf said. “And you’re doing that, and I’m proud to be a partner with you.”

Some during Wednesday’s briefing asked if gentrification could result from these revitalization efforts.

Wolf said having local people spearhead these projects will help keep the integrity of the community.

“Who’s in charge of this development? That’s going to make a really big difference,” he said. “They’re not just at the table, they are the table.”

Walker said as a life-long resident of Aliquippa, he and others committed to these projects will make sure gentrification doesn’t happen.

“Gentrification is not something we speak of,” he said. “Everybody in this city will have an equal opportunity to speak on anything that comes. We’re looking for partners, we’re not looking for bullies.

“So if you want to sit down and talk about how the future is going to be, we’re here to listen. But if you’re going to come in and take advantage of us, we’ve already had that happen,” Walker added. “I don’t know why our residents think gentrification is going to happen — it’s not.” 

He called the projects and initiatives in the city “a renaissance of Aliquippa,” built on partnership and collaboration, and hope and possibility.”

“The state programs have helped usher in a renaissance in the city of Aliquippa,” Walker said.

Gov. Tom Wolf stands with local leaders during his visit to Aliquippa on Wednesday. Leaders spoke with the governor about ways the city will use the $11 million in state grants it has received since 2015.

Montgmery Locks And Dams Repairs ‘Should Be Dealt With Now’

Green jobs for cleaner bulk transport

By J.D. Prose
Beaver County Times

USep 17, 2019 – POTTER TWP. — Tuesday offered beautiful weather for a tugboat ride on the Ohio River to view the Shell Chemicals’ ethane cracker plant site, but it was a distressing situation on those same waters that concerned an influential Ohio congresswoman.

After touring the Montgomery Locks and Dam at the invitation of U.S. Rep. Conor Lamb, D-17, Mount Lebanon, U.S. Rep. Marcy Kaptur, a Toledo Democrat, expressed dismay at the crumbling condition of the 83-year-old structure.

“It’s a poster child for why Congress needs to pass an infrastructure bill and why the president needs to sign it,” said Kaptur, a member of the powerful House Appropriations Committee and chairwoman of that committee’s subcommittee on energy and water development.

“This is really serious here,” said Kaptur, noting the cracks in the locks and damn officials pointed out to her on the walking tour. “This should be dealt with now, not five years from now, not 10 years from now. Now.”

A $1.09 million project to temporarily fix the damaged middle-lock wall began about a year ago with the U.S. Army Corps of Engineers estimating that it had a 50 percent chance of failing in the next decade if it were not addressed.

A catastrophic failure would halt all river traffic, officials warned, and would significantly damage the regional economy. With construction on Shell’s $6 billion cracker plant now in full swing, repairing the locks and dam is even more vital, Lamb said.

“Fixing the locks and dams, especially the Montgomery Locks, is one of the most import infrastructure needs of western Pennsylvania, and it’s one that we can actually do,” Lamb said. “It’s cracked concrete, and we know how to fix that.”

Lamb and Kaptur were joined on the tour by officers from the U.S. Army Corps of Engineers, Mary Ann Bucci, the executive director of the Port of Pittsburgh Commission, and Matt Smith, the president of the Greater Pittsburgh Chamber of Commerce and a former Allegheny County state senator.

The group toured the locks and dam and then climbed aboard a Campbell Transportation Co. tugboat to soak in a river view of the cracker plant before returning to shore.

Smith said keeping the Ohio River navigable for goods and products is essential to the region’s success.

“It’s billions of dollars of economic development,” he said.

Part of Lamb’s job now is convincing House colleagues in leadership roles, such as Kaptur, that the region’s locks and dams must be upgraded immediately.

In an April letter to Kaptur and her subcommittee’s ranking Republican, Lamb and four colleagues — U.S. Reps. Guy Reschenthaler, R-14, Peters Township; Mike Doyle, D-18, Forest Hills; David McKinley, R-W. Va.; and Bill Johnson, R-Ohio — asked for the “highest possible increase” in funding for the Corps of Engineers’ account for pre-construction, engineering and design.

The bipartisan group noted that the account was funded at $125 million in the 2019 Energy and Water Development Appropriations Act, which is $48 million higher than the $77 million requested in the 2020 fiscal year budget.

Appropriating the highest amount would allow for the Upper Ohio Navigation Project to pursue funding. The region’s locks and dams fall under that project.

Kaptur credited Lamb with bringing photos of the Montgomery Locks’ condition to a subcommittee hearing to prove how bad the situation is there.

“A picture is worth a thousand words. We’re all very proud of America and proud of the places that we come from and when you see a cracked and degraded piece of infrastructure it makes you feel a little bit of ashamed,” Lamb said.

“That’s our responsibility as public officials … to maintain and improve that stuff so we can have a good quality of life,” he said. “I think the picture really communicates that, that we’ve let this go on for way too long and its urgent that we fix it right away.”

Trump Offers Fool’s Gold to Fund Infrastructure

Leo W. Gerard By Leo W. Gerard

USW International President

Via USW Blog

June 9, 2017 – Donald Trump surrounds himself in gold. The signs on Trump buildings shimmer in it. His penthouse in New York is gilded in it.

He claims now to have found the alchemy to conjure $1 trillion in infrastructure gold. He plans to put up a mere $200 billion in federal funds and stir it together with $800 billion in private investment and state dollars.

That is fool’s gold. A falsely-funded infrastructure program is a massive broken promise. America needs real improvements to roads, bridges, schools, hospitals, airports, water systems and railways. That requires a commitment of real tax dollars, not the relinquishment of America’s public assets to profit-seeking private Wall Street entities. Americans should not be charged twice for maintenance of the public good, once through tax breaks to investors and again in outrageous tolls and fees the investors charge.

On Wednesday, standing on the banks of the Ohio River in Cincinnati, Trump reiterated the pledge he made repeatedly on the campaign trail to put $1 trillion into infrastructure. He said “restoring America” is a promise that Washington, D.C., has broken. “It has not been kept, but we are going to keep it,” he said.

“Taxpayers deserve the best results for their investment,” he said, “and I will be sure that is what they get.” But the plan to turn over public assets to private corporations for tax-supported investment is gold only for the 1 percent who can afford to invest.

The Wall Street Journal reported last fall that to raise the private funds, Trump planned to give massive tax breaks of 82 percent of equity to investors that help pay for infrastructure repair. For citizens, that’s a crappy deal – giving Wall Street control over public assets in addition to being forced to fork over the taxes that rich investors will not pay.

That financial alchemy creates poison, not gold.

In addition, there is no profit in many types of infrastructure that need repair, like schools and hospitals. A corporation can’t collect tolls from children entering their elementary school each morning.

Continue reading Trump Offers Fool’s Gold to Fund Infrastructure

Casey to White House: Action, Not Studies, Needed for Western PA Locks And Dams

 

Montgomery Locks in Beaver County

By Tom Fontaine

Tribonline

March 31, 2017 – The Army Corps of Engineers has spent more than $17 million over the past 15 years studying what to do about crumbling locks on Western Pennsylvania’s portion of the Ohio River.

Now the White House’s Office of Management and Budget wants it to spend more, according to U.S. Sen. Bob Casey, D-Scranton.

“We don’t have time for any more studies, nor are they needed or justified,” Casey said Friday during a stop at the Emsworth Locks and Dams, about six miles downstream of Pittsburgh.

Separately, in a letter to the Office of Management and Budget, Casey said a proposed $2.7 billion project to build new, larger lock chambers at the Ohio River’s Emsworth, Dashields and Montgomery facilities is being “unnecessarily delayed” by the office’s request for additional study and economic analysis “to determine whether the proposed project is consistent with the policy and programs of the president.”

The Office of Management and Budget did not return a message.

The three Ohio River facilities began operating between 1921 and 1936. They were built to last 50 years. Beaver County’s Montgomery is in the worst shape. Its two locks share a wall that is cracked. If the crack gets bad enough, authorities could be forced to close both locks in a move that would halt river traffic in both directions, said Col. John P. Lloyd, commander of the Army Corps’ Pittsburgh District.

“Surely, maintaining the health of this significant commercial inland waterways corridor, saving project costs and using taxpayer dollars wisely, and protecting and creating thousands of jobs are more than consistent with the president’s policies,” Casey said in his letter.

Tom Fontaine is a Tribune-Review staff writer. Reach him at 412-320-7847 or tfontaine@tribweb.com.

Public Works: How The Clinton and Sanders Infrastructure Plans Measure Up

By Dave Johnson

Campaign for America’s Future

“Investing in infrastructure makes our economy more productive and competitive across the board.”
– Hillary Clinton

Dec 1, 2015 – Democratic presidential candidate Hillary Clinton has announced a plan for infrastructure investment. How does her plan stack up against that of her chief competitor, Bernie Sanders?

Also, how will Clinton and Sanders pay for their plans? On that question, Sen. Elizabeth Warren (D-Mass.) recently came up with a set of principles we can use to judge this.

Clinton’s Infrastructure Plan

Clinton on Monday announced a plan for investing in infrastructure improvements. Meteor Blades laid out the need for infrastructure investment at Daily Kos in “Clinton proposes $275 billion spending for infrastructure“:

… 11 percent of the nation’s bridges are structurally deficient and a fourth of them are functionally obsolete. Similar deficiencies can be found in schools, dams, levees, railroads, the electrical grid, and wastewater facilities. In its 2013 quadrennial report card on U.S. infrastructure, the American Society of Civil Engineers said the nation would need to invest an additional $1.6 trillion by 2020 to put its infrastructure into good repair. And that doesn’t include innovative infrastructure like universal broadband.

Clinton’s infrastructure plan is detailed at her website in “Hillary Clinton’s Infrastructure Plan: Building Tomorrow’s Economy Today.” Here is a distillation:

● $250 billion dollars in infrastructure investment, spread out over five years as additional spending of $50 billion each year.

● An additional one-time $25 billion to seed a national infrastructure bank. The bank will support up to an additional $225 billion in direct loans, loan guarantees, and other forms of credit enhancement. These are loans to states and cities which will require tolls, fees, etc. to pay off.

● Spending priorities include “smart investments in ports, airports, roads, and waterways”; “giving all American households access to world-class broadband and creating connected ‘smart cities’”; “building airports and air traffic control systems”; “a smart, resilient electrical grid”; “safe and reliable sources of water”; “a national freight investment program”; “upgrade our dams and levees to improve safety and generate clean energy”; safe, smart roads and highways that are ready for the connected cars of tomorrow” and “the new energy sources that will power them.”

● A promise of “a faster, safer, and higher capacity passenger rail system.” But the plan does not mention high-speed rail. (Note that a single high-speed rail system from Los Angeles to San Francisco is expected to cost up to $60 billion, which alone is almost one-fourth of Clinton’s entire five-year infrastructure investment for all infrastructure needs.)

Sanders’ Infrastructure Plan

Clinton’s $275 billion infrastructure plan offers modest spending and contains few specifics. Contrast that with candidate Bernie Sanders, who has proposed a highly detailed, $1 trillion plan.

Continue reading Public Works: How The Clinton and Sanders Infrastructure Plans Measure Up

A Step Forward on Green Jobs, But Will the GOP Block It?

Montgomery Locks and Dam on Beaver County: Army Corps of Engineers spokesman Dan Jones said locks and dams funding on the Ohio River in Pennsylvania and West Virginia will receive nearly $47.97 million based on President Barack Obama’s proposed numbers. The Montgomery Locks and Dam in Potter Township could be among those receiving funding.

Locks and dams funding increases for southwestern Pennsylvania

By David Taube

Beaver County Times

Feb 3 , 2015 – WASHINGTON, D.C. – An Army Corps of Engineers spokesman said the president’s proposed budget calls for significant increased spending on the Ohio River.

Spokesman Dan Jones said locks and dams funding on the Ohio River in Pennsylvania and West Virginia will receive nearly $47.97 million based on President Barack Obama’s proposed numbers. Typically, Jones added, those figures do not change drastically from what’s approved by Congress.

That compares to a previous budget of $30.8 million, he said.

The federal government also will invest $58 million in unallocated dollars to locks and dams in western Pennsylvania, which involves funding already approved by Congress and the administration, U.S. Sen. Bob Casey, D-Pa., said in a statement Monday.

The unallocated money relates to the current 2015 federal fiscal year, which began Oct. 1 and ends Sept. 30. The president’s budget is for the upcoming 2016 federal fiscal year, which begins this fall.

Casey had asked federal staff for that other investment so a lower Monongahela River project could begin constructing a river chamber portion and support existing contracts, he wrote in a letter to Jo-Ellen Darcy, assistant secretary of the Army for civil works.

It was not immediately clear if or how that $58 million change could benefit other locks and dams projects in the state as Casey’s press office stated it would.

‘Moral Mondays’ Launched in Western PA

Protesters Rally for Officials to ‘Do the Right Thing’

People gather at the Beaver County Courthouse to raise awareness of several social and economic issues.

By Kirstin Kennedy

Beaver County Times

Oct 28, 2014 – BEAVER — Everyone knows the First Amendment gives citizens the right to assemble. Few regularly exercise it.

But that wasn’t the case Monday evening on the steps of the Beaver County Courthouse, when over 30 people gathered with signs and chants.

Willie Sallis, president of the NAACP in Beaver County, said he helped to gather the protest to pressure elected officials to "just do the right thing."

"What is the moral thing to do? … That’s what we’re trying to keep alive with the union and the civil rights leaders," he said. Sallis paired with several other organizations — including members of local labor unions — for the rally, with the hope of raising awareness of several social and economic issues.

Inspired by a recent lecture given locally by the Rev. William Barber, president of the North Carolina State Conference of the NAACP, Sallis dubbed the rally Moral Monday.

"What’s the right thing to do for the poor?" Sallis said. "What’s the right thing to do for health benefits? What’s the right thing to do when it comes to jobs? What’s the right thing to do when it comes to minimum wages? All we’re saying is, ‘Look, do the right thing.’"

On the courthouse lawn, participants chanted, "Keep it fair; we care."

Continue reading ‘Moral Mondays’ Launched in Western PA

Time to Narrow the Target: It’s Not ‘Washington,’ It’s Rightwing Republicans

Ideology and Investment

By Paul Krugman
New York Times Opinion

Oct 26, 2014 – America used to be a country that built for the future. Sometimes the government built directly: Public projects, from the Erie Canal to the Interstate Highway System, provided the backbone for economic growth. Sometimes it provided incentives to the private sector, like land grants to spur railroad construction. Either way, there was broad support for spending that would make us richer.

But nowadays we simply won’t invest, even when the need is obvious and the timing couldn’t be better. And don’t tell me that the problem is “political dysfunction” or some other weasel phrase that diffuses the blame. Our inability to invest doesn’t reflect something wrong with “Washington”; it reflects the destructive ideology that has taken over the Republican Party.

Some background: More than seven years have passed since the housing bubble burst, and ever since, America has been awash in savings — or more accurately, desired savings — with nowhere to go. Borrowing to buy homes has recovered a bit, but remains low. Corporations are earning huge profits, but are reluctant to invest in the face of weak consumer demand, so they’re accumulating cash or buying back their own stock. Banks are holding almost $2.7 trillion in excess reserves — funds they could lend out, but choose instead to leave idle.

And the mismatch between desired saving and the willingness to invest has kept the economy depressed. Remember, your spending is my income and my spending is your income, so if everyone tries to spend less at the same time, everyone’s income falls.

Continue reading Time to Narrow the Target: It’s Not ‘Washington,’ It’s Rightwing Republicans