Will labor challenge austerity? by Brian Tierney


by Brian Tierney
January 7, 2011

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Brian Tierney looks at one reason why there’s been little response so far to austerity.

ACROSS THE U.S., working-class people are struggling, scraping together meager sums in order to get by. In state and local governments throughout the country, workers are watching public services slashed in the name of balanced budgets.

Trillions of dollars have been doled out to Wall Street titans and big banks. And while the epidemic of home foreclosures and cuts to public services rages on, corporate profits are soaring to record highs, and banks are sitting on hordes of accumulated capital. Still, we are told, there simply isn’t enough money to help the millions struggling in these economic hard times.

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