Mayor Bloomberg warns of panic in the streets if companies don’t start hiring
America’s growing income inequality has gone mostly uncommented-upon by our country’s political leaders, overshadowed by the nearly simultaneous decision of every politician in the country that deficits were our first and only problem. But now one politician is speaking up about the negative consequences of having huge segments of the population hanging around with no real stake in the economy — and, surprise surprise, it’s the richest one of all.
New York Mayor Michael Bloomberg took to his radio show today to warn listeners that America could be headed down the path of Egypt if we don’t get our act together. From the Daily News:
“We have a lot of kids graduating college, can’t find jobs,” Bloomberg said on his weekly WOR radio show.
“That’s what happened in Cairo. That’s what happened in Madrid. You don’t want those kinds of riots here.”
…”The damage to a generation that can’t find jobs will go on for many, many years,” the normally-measured mayor said.
The whole thing is a little bit fear-monger-y, but credit Bloomberg for speaking up about an issue most politicians wouldn’t dare touch. Now, as the 30th-richest man in the world, Bloomberg probably could probably actually do something about this problem, but let’s not judge him too harshly. We’ve got to walk before we can run.
Video of Bloomberg’s speech is below:
(Sorry. It’s Friday.)