Hypocrites With Fat Wallets: CEOs Want It All [View all]

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Hypocrites With Fat Wallets: CEOs Want It All

Sunday, 05 May 2013 10:48
By Sam Pizzigati, Inequality.org | News Analysis

America’s top corporate executives love lecturing the rest of us about ‘fiscal responsibility.’ They want us to expect less from government. But they expect more, and a new report shows how they’re getting it.

Last week, federal unemployment benefits for the 400,000 Californians out of work since last fall dropped almost 18 percent, a $52 cut out of an average $297 weekly check. Similar cuts have already started rolling out in other states.

In all, 3.8 million long-term unemployed Americans will on average lose near $1,000 each by September 30, the date that ends the 2012 federal fiscal year.

The direct cause of all these cuts: the “sequester,” the $85 billion in federal austerity budget reductions that kicked in this past March 1.

Who deserves the “credit” for this meat-axe sequester? Credit the power suits who occupy Corporate America’s loftiest executive suites. These top corporate executives — organized in groups like “Fix the Debt” and the Business Roundtable — have been lobbying relentlessly for deep cuts in federal spending. ..................(more)

The complete piece is at: http://truth-out.org/news/item/16180-hypocrites-with-fat-wallets-ceos-want-it-all