NEW YORK — Contrary to the Republican Party/tea party's fear-mongering, America is not becoming Greece. But it is on its way to becoming Japan.
More than 90 percent of Americans are suffering from the "jobless economic recovery." Gross domestic product growth, anemic or robust, is increasingly disconnected from the growth of America's household income and the availability of full-time jobs.
People cannot eat GDP or Wall Street's Dow Index. Due to the Bush tax cuts for the rich and promotion of Wall Street's casino, the rich and the speculators have come to garner over 23 percent of America's annual national income.