European political realities may be pushing the continent closer to the U.S. model, where a declining share of total income is going to workers and an increasing amount to profits, Robert Reich, secretary of labor under President Bill Clinton, wrote in the Financial Times.
“We’re not in a double-dip recession yet,” Robert Reich, a former member of President Bill Clinton’s Cabinet, wrote yesterday in describing the state of the U.S. economy. “We’re in a one-and-a-half-dip recession.”
President Barack Obama and House Speaker John Boehner are engaged in negotiations over shrinking the budget deficit even as high unemployment is taking a greater human and financial toll on the nation’s economic health.
Seven publicly traded U.S. corporations represented on President Barack Obama ’s advisory council for jobs and competitiveness -- including General Electric Co. and Intel Corp. -- have devoted a growing pool of their non-U.S. earnings to investments in other countries.