By almost every measure, 2011 was a lost year for the American middle class. Who is to blame depends on your political view. What follows is an attempt to sum up the major developments and missed opportunities of the year gone by. For me, the following areas represent the most serious perils facing middle class Americans.
On Tuesday, Barack Obama declared the debate over how to restore growth, balance, and fairness to the American economy the “defining issue of our time.”
For decades, the Egyptian military has operated an economy within an economy in Egypt. With the tacit support of the United States, the armed forces own and operate a sprawling network of for-profit businesses. The military runs factories that manufacture televisions, bottled water and other consumer goods. Its companies obtain public land at discounted prices. And it pays no taxes and discloses little to civilian officials.