In 2008, with the global financial crisis at its peak and the world teetering on the brink of a second Great Depression, world leaders and policymakers took decisive fiscal and monetary policy actions that bolstered our economies and stopped our financial system from spiraling into chaos and dragging our economies into depression.
But today, AFL-CIO President Richard Trumka told the “Trans-Atlantic Agenda for Shared Prosperity” economic summit:
Our work is far from done, and no progress has been easy. We have had to battle those who wanted to block the fiscal stimulus, which was so critical for halting our economic slide. And we are still battling those same opponents who now want to impose strict fiscal austerity that threatens to sabotage our economy and trigger a new recession, as those same policies have in Europe.