At last year’s conference on Public Sector Unions, Saqib Bhatti presented on how debt has replaced income in the US economy. As debt skyrocketed, bank profits have soared, but the impacts on other parts of the economy – and particularly public workers – are negative and getting worse.
Sadiq Bhatti is the Executive Director of the ReFund America Project and a Fellow at the Roosevelt Institute. He works on campaigns to rebalance the relationship between Wall Street and local communities.
Austerity, growing inequality, and the economic and political domination of billionaires, bankers, hedge funds, and giant corporations make the current moment ripe for birthing a movement that can radically transform the country and the world. This is a time of great peril, but also of extraordinary opportunity and—yes—reasons for hope. The last four decades have been characterized by unrelenting attacks on the working class, the weakening of unions and the financialization of capitalism.