Dear John,

Yesterday, Treasury Secretary Janet Yellen warned that the country would run out of money by October 18th and would default on its debt unless the debt ceiling is raised before then.

Defaulting on the country’s debt would jeopardize the credit of the United States, destabilizing financial markets and likely plunging us into another recession while wiping out up to $15 trillion in household wealth.

In short, it would be an economic catastrophe.

But there’s a deeper, structural problem in our economy that’s just as perilous — and no one is talking about it.

Our latest video breaks down why wealth inequality could collapse our economy.

America’s wealth gap is now more extreme than it’s been in over a century. Until this structural problem is remedied, the American economy will remain perilously fragile.

It will also be vulnerable to the next demagogue wielding anger, racism, and resentment as substitutes for real reform.

Closing our staggering wealth gap is crucial to the survival of both our economy and our democracy.

It’s time we started treating this crisis with the urgency it demands.

Thanks for watching,

Robert Reich
Inequality Media

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