GRITtv: Dean Baker: Deficits, Loans and Losses

The big economic news this morning was that 16 countries that use the euro and the International Monetary Fund have agreed to create a nearly $1 trillion rescue fund to support the euro and keep the problems in Greece from spreading. Here in the U.S., the Dow might be climbing, but people are still struggling to find employment and recovery, Dean Baker reminds us, is still a long way off. Meanwhile, the people who created the crisis are trying to use the deficits they caused to force cuts in social spending--here and around the world. Baker joins us via Skype from Washington, D.C. to discuss the situation in Europe, the U.S.'s involvement, Fannie Mae, and whether there's any hope for real change in the economy. GRITtv with Laura Flanders brings participatory democracy onto your computer screen and into your living room, bridging the gap between audience and advocates. Watch any show, at any time: http://grittv.org Distributed by Tubemogul.