The Broken Social Contract
It is no longer possible for the vast majority of workers to get a good job that pays a living wage. The economic pie is no longer being shared equitably. The wealthy classes and their political flunkies have broken the Social Contract with the workers and people
by Harvey Lothian
( February 22, 2016, Boston, Sri Lanka Guardian ) The unwritten but very real and clearly understood social contract under which the citizens and workers of the United States and Canada developed the countries has now been broken by the wealthy classes, the owners of major industries and businesses and the politicians, The contract is now invalid. A new social contract is needed.
It was clearly understood by everyone in both countries, from the very beginning of the countries, that if men got what education they could, or wanted or needed, got a job, worked hard, were frugal with their money, they would eventually be able to buy a house, get married, raise a family, and eventually retire and live without undue financial stress due to the equity in their homes, their pensions and their savings. A growing economic pie would provide enough jobs and wealth that everyone could have a good life if they were willing to work for it. Everyone understood that. That was the Social Contract.
In 1982 Ronald Reagan, who was probably the first moron elected President of the USA. began a war on government, stating it was the enemy not your friend, and a war on working people by beginning the process of rolling back gains U.S. workers had made in the 20th Century. Every President since Reagan, including President Obama, have continued the war on working people, by destroying labor unions and reducing benefits working people had fought for and gained in the last hundred years.
But, that was not enough for the wealthy classes, they wanted more from working people, much more; they wanted to send worker’s well paying jobs to countries with low wages so their corporations could make higher profits. They wrote Free Trade Agreements and had their bought-and- paid-for politicians pass them into law, then they went around the world and had other nations pass them into law. Then, just as Ross Perot said would happen, there was a great sucking sound as good American jobs sped overseas. Corporate profits soared.
The greedy wealthy classes were not finished yet, they wanted more, much, much more. They had their bought-and-paid-for politicians repeal the Glass-Steagall Act in 1999. US banks then began an orgy of financial speculation that produced the economic crisis of 2008. In their inimical fashion they demanded that the US government bail them out to cover their gambling losses. The government gave them $700 billion. Every man, woman and child in the USA was instantly $2,295 further in debt, debt owed by the US government, which the public would have to pay. A family of three was now $6,885 further in debt. It is probably not a stretch of the imagination to think the wealthy classes laughed their way to their mansions that day. $700 BILLION DOLLARS!!
In 1982 Ronald Reagan, who was probably the first moron elected President of the USA. began a war on government, stating it was the enemy not your friend, and a war on working people by beginning the process of rolling back gains U.S. workers had made in the 20th Century. Every President since Reagan, including President Obama, have continued the war on working people, by destroying labor unions and reducing benefits working people had fought for and gained in the last hundred years.
But, that was not enough for the wealthy classes, they wanted more from working people, much more; they wanted to send worker’s well paying jobs to countries with low wages so their corporations could make higher profits. They wrote Free Trade Agreements and had their bought-and- paid-for politicians pass them into law, then they went around the world and had other nations pass them into law. Then, just as Ross Perot said would happen, there was a great sucking sound as good American jobs sped overseas. Corporate profits soared.
The greedy wealthy classes were not finished yet, they wanted more, much, much more. They had their bought-and-paid-for politicians repeal the Glass-Steagall Act in 1999. US banks then began an orgy of financial speculation that produced the economic crisis of 2008. In their inimical fashion they demanded that the US government bail them out to cover their gambling losses. The government gave them $700 billion. Every man, woman and child in the USA was instantly $2,295 further in debt, debt owed by the US government, which the public would have to pay. A family of three was now $6,885 further in debt. It is probably not a stretch of the imagination to think the wealthy classes laughed their way to their mansions that day. $700 BILLION DOLLARS!!
