“The trickle-down experiment that began in the Reagan years failed America’s middle class,” Senator Warren stated in a fiery speech at a January 7th AFL-CIO conference on increasing wages.
Pretty much the whole Republican Party, and if we’re going to be honest, too many Democrats, are overly cozy with the financial industry and make decisions that benefit the wealthiest 10 percent of Americans while leaving others to struggle. Over the past 32 years every penny of America’s economic growth has benefited the top 10 percent of earners, while the bottom 90 percent has been squeezed.
The populist Senator from Massachusetts drew enthusiastic applause from the Washington DC audience that included national labor leaders as she went on to state:
We know that democracy does not work when congressmen and regulators bow down to Wall Street’s political power. And that means it’s time to break up the Wall Street banks and remind politicians they don’t work for the big banks, they work for us.
During her 30-minute speech, Senator Warren brought up the Affordable Care Act and President Obama’s recent immigration actions as examples of David-beats-Goliath victories for progressives. While crediting Obama for recent economic improvements, she noted that things have not been improving much for middle class Americans:
Despite these cheery (economic) numbers, America’s middle class is in deep trouble.
Continuing her indictment of trickle down economics, Senator Warren said that members of both political parties agreed to cater to big corporations by “firing the cops on Wall Street” and turning the corporations loose “to do whatever juiced short-term profits even if it came at the expense of working families.” She continued;
If we are ever going to un-rig the system then we need to make some important political changes. We have seen David beat Goliath. We have seen the lobbyists lose.
Senator Warren offered no indication that she is considering a run for president as she is being encouraged to do so by many who see Hillary Clinton as too closely tied with Wall Street and the financial industry.
Sen. Elizabeth Warren at the AFL-CIO Raising Wages Summit”>Watch Sen. Elizabeth Warren at the AFL-CIO Raising Wages Summit in the video below: