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Austerity and Debt Conspire to Wreck the Lives of Working American Families

Working families are sandbagged by the mortgage debt and, retirees can’t get decent returns on their investments.

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Copyright © 2013 by Robert Kuttner. Excerpted by permission of Knopf, a division of Random House, Inc. All rights reserved. No part of this excerpt may be reproduced or reprinted without permission in writing from the publisher.

Robert Kuttner is a founder and co-editor of The American Prospect magazine. He wrote a column for Business Week for twenty years, and he also has a weekly column in The Boston Globe and many other papers. He is also the author of A Presidency in Peril: The Inside Story of Obama’s Promise, Wall Street’s Power, and the Struggle to Control our Economic Future and Obama's Challenge: America's Economic Crisis and the Power of a Transformative Presidency as well as several other books on politics and the economy.