Even though it’s been almost a decade, our economy still hasn’t fully recovered. Too many people are still unemployed or underemployed, many small businesses have shut their doors, and a growing number of college graduates face mounting student debt along with bleak job prospects.
One critical reason for this is an often misunderstood or overlooked dynamic in the economy. Like the shifting of tectonic plates that leads to an earthquake, this dynamic is a bit like the “Big One,” the nickname for the earthquake that west coasters have feared for decades could cause the crumbling of cities. The reality is we have been moving toward an economic tectonic plate shift for decades now — and it’s only getting worse. So, what is this economic swing that is threatening our country’s future?
It’s corporate welfare.