I'll play devil's advocate here and say I don't really see too much wrong with that clip. They could have parse their words a little better, but I don't have a problem with the basic ideas.
I think Reich's point is relevant- unemployment has hit minorities and the lower educated exponentially harder than it's hit white blue collar males and those with at least college degrees. So, I disagree with the guy who edited this video. From a statistical standpoint, layoff notices do care what color your skin is. (Admittedly, there are other factors involved, but for glibness' sake...) I also disagree with the "how about the jobs go to the best firm" title screen. The employment field is not strictly a meritocracy. A lot of it-probably more than less-comes down to connections and that includes gov't contracts.
I also don't see Rangel's position as wanting to completely bypass the authority of state legislatures.In the past few years, New York has left a good deal of fed money on the table. When the homeland security budget was released this year, there were a couple articles pointing out how New York hasn't used all of the money allocated for at least the last two years. His suggestions are vague, but in light of what the stimulus money was supposed to do- move into the economy quickly- I don't really have a problem with warning. His constituents are largely lower income, so he is understandably advocating for them, but the dispersal of the stim funds was not entirely up to him, so, again, there, no issue.