"US corporations shatter profit records"
US corporations took in .659 trillion in the third quarter, breaking records going back 60 years, according to a Commerce Department report released Tuesday. It was the seventh consecutive quarter of profit growth at "some of the fastest rates in history" according to the New York Times.
If any more proof were needed, the third quarter profit record exposes the lie promoted by Democrats and Republicans alike that only the "free market" and private businesses can reverse the nation's 9.6 percent unemployment rate. The corporations and banks are sitting on a cash hoard in the trillions of dollars. This money is not being used to hire workers, but to line the pockets of the executives and top shareholders.