Mainstream Economists Finally Admit that Runaway Inequality Is Hurting the Economy
December 19, 2013
But Bad Government Policies Are Making Inequality Worse By the Day
AP reported Tuesday:
The growing gap between the richest Americans and everyone else isn’t bad just for individuals.
It’s hurting the U.S. economy.
“What you want is a broader spending base,” says Scott Brown, chief economist at Raymond James, a financial advisory firm. “You want more people spending money.”
“The broader the improvement, the more likely it will be sustained,” said Michael Niemira, chief economist at the International Council of Shopping Centers.