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Retreat, Surrender, Can He at Least Plead?
The headlines came quickly after President Obama concluded the deficit-debt deal with the Republicans Sunday evening. There were few shades of gray. The New York Times editorial was titled "To Escape Chaos, a Terrible Deal: Democrats won almost nothing they wanted except avoiding default."
It was truly, as the Times pointed out, "a political environment laced with lunacy." But don't blame it all on the Republican "mad dogs" on Capitol Hill playing chicken with the economic plight of the American people and its wobbling economy. It was President Obama who surrendered.
In one of the most inept episodes of Presidential-Congressional relations, Mr. Obama managed to give the Republicans more than they expected and leave the Democrats with less than the Republicans offered. The Republicans never expected Mr. Obama to give in entirely on tax increases on the wealthy, on the reviled oil industry giants and other corporate tax escapees. The Republicans even agreed to $800 billion in new revenue over ten years. Obama fumbled the ball day after day, and with the August 2 debt ceiling deadline looming, he fell to the extortionists. Unlike Presidents Roosevelt, Truman, Eisenhower, Kennedy, Johnson, Nixon, Ford, Carter, Reagan, Bush, Clinton and Bush II, who routinely expected and got debt ceilings raised without conditions.
President Obama's disaster began months ago when he agreed to tie raising the debt ceiling to a grand bargain with the Republicans regarding deficits and revenues instead of demanding a debt ceiling raise while he was caving on extending Bush tax cuts for the wealthy. That immediately gave the "fanatic" Republicans a veto power over the "establishment" Republicans in Congress. And fanatics don't blink. Especially those fanatics who, elected last year, say they don't care about being re-elected.
So Obama accepted about $2.5 trillion in spending cuts over the next decade, got no revenue producing tax increases and therefore made it nearly impossible to create a public works jobs program to uplift a sliding economy.
With economic indicators registering more trouble in recent days for American workers, Mr. Obama has no cards left. Interest rates cannot be driven any lower by the Federal Reserve. He didn't get even a renewal of the extension of unemployment benefits. Consumer spending - 2/3rds of the economy, is stagnant. Without consumer demand, new investment is sluggish. Unemployment is rising, and without jobs, workers can't increase their consumer spending. State, local and federal government spending cannot increase under the yoke of the just agreed-upon cuts. The weaker dollar may increase exports a little, but the U.S. still has a continuing massive trade deficit, especially with China. Europe's financial problems will curb orders of U.S. goods and services.
So what can Mr. Obama do? He can propose a public works program, paid for by the tax increases on the wealthy and the corporations. Both are getting richer. The large corporations are reporting very good second quarter profits further disconnecting their affluence from that of their workers and labor in general. He could, if he wanted, make a very strong case for repairing America's infrastructure and bring the soldiers back from Iraq and Afghanistan, as a majority of the American people and the most mayors of our cities desire.
First, however, he has to take the offensive by showing that the bulk of the deficits since 2002 were caused by the Bush tax cuts, mostly for the wealthy, and Bush's two wars. Obama also has to hold the Republicans accountable for their hostage-taking of the American economy so they cannot impede public works proposals in an election year.
Amazingly, as a Harvard-trained lawyer, he was quick to compromise from the get-go. Consequently, he painted himself into a corner. So, since he is not a leader, maybe he can become a pleader.
Given that non-financial companies are sitting on two trillion dollars of inert cash and other liquid assets, maybe he can appeal to these companies to disgorge ten percent in immediate special dividends to their long-parched shareholders who are, after all, their owners. Loosening the executive locks on this hoard of money would provide $200 billion for more likely spending in the market place. Companies like Apple, Google, Cisco, Intel and Microsoft alone are sitting on well over $200 billion cash. To these coddled, indentured U.S. companies he can invoke President John F. Kennedy's challenge--"Ask not what your country can do for you, ask what you can do for your country."
Second, he can plead with those very profitable corporations that have benefited from the government bailout, or pay little or no federal income taxes, to voluntarily contribute to a public works fund.
Companies like GE, Verizon, Exxon Mobil, Boeing, IBM, Wells Fargo, DuPont, American Electric Power, FedEx, Honeywell, Yahoo, United Technologies as a group made $171 billion in U.S. profits over three years and paid zero federal income tax with a $2.5 billion negative advantage. And that, says Bob McIntyre, director of Citizens for Tax Justice, is "just the tip of an iceberg of widespread corporate tax avoidance."
Is such pleading just Pollyannaish? Maybe. But it will resonate with the American people's sense of injustice. Those feelings of indignation can reverberate and cause members of Congress to start remembering who sent them to Washington. Last I heard, corporations don't have a single vote.
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136 Comments so far
Show AllHow about: FOOL ME ONCE
Didn't fool me once! Getting time to pull out the Guy Faweks mask & cape >^^<
You should suggest that one over at the Huffington Post, even more applicable than here.
Who Bombs?
Obama Bombs!
Michigan woman,
Personally, I think you are asking too much from Nader. He did his best, tried so often and the "Left" not only shunts him but abused him. 71%, REPEAT! 71% "FR" Liberals still supporting Obama. Instead of pointing their fingers at the Dims and Obama, they turn their anger at the Repugs. Of course, even an idiot knows the Repugs are part of the problems. I believe the Dims especially, Obama must bear much of the blame. It is his watch and the decider.
I at least knew this was going to happen last December when Mr. O extended Bush tax cuts. I also knew this would happen when Mr. O and Mr. Bush bailed out criminals with $ 16 trillion. And I knew this would happen with Mr, Bush and Cheney illegal wars with no-bid contractors.
This is what happen in a kleptocracy. Since Reagan we've been taught that crime, selfishness and unbridled greed, pays.
Obama and his corporate masters have achieved a stunning victory!
"Last I heard, corporations don't have a single vote." - Ralph Nader
That's right. Not a single vote, but millions of them. All of the electronic "voting" machines are controlled by corporations.
"The people who cast the votes don't decide an election, the people who count the votes do."
-Joseph Stalin
Put another way: "Last I heard, corporations don't have a single vote."
Consider the possibility that this is because they don't need them.
Exactly. Just run Tweedledum and Tweedledee, and it doesn't matter who wins. 2012 will be a choice between two Republicans--Obama and the one they set up to lose. In other words, a 2008 reprise. Regardless of who actually loses, the corporations win.
"he was quick to compromise from the get-go."
Actually, there is very little evidence that Obama either compromised or acquiesced. Rather, it appears that the outcome may have been due in part to his own initiative. After all, other then rhetoric, this president's policies are not all that different from those of George W. Bush.
As for raising taxes on the rich, it just may be that the Koch brothers and their friends have placed two bets.
Mr. Nader cannot possibly think Obama would plead with the corporations that fund him to start some sort of jobs program. Come on, Nader. He's negotiating trade deals, for heaven's sake. He wants to reduce our work force and lower our wages. If he ever does anything positive for the American people, he'll counteract it with something negative the next day.
I had more respect for your opinions, Nader. I expected more out of you.
I am losing faith in all liberal voices. "Cave," indeed.
But Nader is right, lefttown. Obama is begging Corporations to provide jobs to the unemployed. The corporations are, of course, not going to do it just because he is such a nice man. This is what Obama said today in his debt ceiling address: "We also need to give more opportunities for all those construction workers out there who lost their jobs when the housing boom went bust. We could put them to work right now by giving loans to private companies that want to repair our roads and our bridges and our airports, rebuilding our infrastructure. We have workers who need jobs and a country that needs rebuilding. An infrastructure bank would help us put them together."
In other words, Obama wants a **private** "Infrastructure Bank" to fund **private** companies to work on roads, bridges, and airports. A nice step towards the wholesale privatization of our roads, bridges, and airports. In the style of America's prisons and charter schools.
This barely rises to the level of irony. Obama isn't going to do any of the pleading Ralph so sincerely encourages. He might plead with the corporate zillionaires to not forget him when he loses in 2012 as a board member in good standing who bailed them out of an economic collapse they caused, and to give him a good discount on that yacht he's been lusting for, but he isn't going to stick his chicken neck out for a jobs program paid for by compassionate corporate CEOs.
And when Ralph says, "Last I heard, corporations don't have a single vote," who the hell is he kidding? Last I heard, corporations can buy elections and politicians like they were refrigerators or trips to Singapore. That's a hell of a lot more powerful than measly votes, which can be hacked, deleted, ignored, flipped or sent down memory's shithole all in a few keystrokes.
Nader shouldn't be making recommendations to Obama, but to those who might oppose him and and his minions in Congress. The recommendation should be directed to potential political candidates and organizers and they should be challenged to advocate the comfistcation of the spare cash these crooks are sitting on. They're determined to use it to buy politicians, to inundate us with advertising telling us why we ought to side with them, and to move their capital elsewhere. Candidates for office should come right out and say that they will do all in their power, if elected, to reduce the power of the rich and the corporate oligarchy by taxing away their capital.
Me thinks the loser-in chief should get down on his hands and knees and beg Bonier for a loaf of bread for the unemployed.
They are going to need some soon...
"...Mr. Obama managed to give the Republicans more than they expected and leave the Democrats with less than the Republicans offered." Right. And the American people got royally screwed.
RALPH NADER: PLEASE, FOR THE LOVE OF GOD AND ALL THINGS GOOD AND SACRED! PLEASE RUN ONE MORE TIME. JUST ONE MORE. GIVE IT ONE MORE SHOT. IF NOT TO WIN, AT LEAST TO BUST-UP THIS BUNCHLOAD OF LIARS, THIEVES AND FAKES AN RUN 'EM OUT OF D.C. I PROMISE TO WORK MY ASS OFF FOR YOU. LET'S DO IT!
Oh, I suspect Ralph's tongue is in his cheek but until the American people get mad enough at this loser (excuse me, Mr. President, loser) what can be done. I actually think he's going for what's it take to get you folks p*****d off?
Mr Obama, if he ever cared, has turned his back on core Democratic Party ideals but not even the *party* seems to notice.
That's stuck.
You cannot CAVE if that is your true nature (to side w/ the neo-cons...which is what Obama has done since DAY ONE of his Administration). OBAMA IS A TURD RIGHT-WING BASTARD! HE'S JUST A BOLD FACED LIAR! stop using that dumb image w/ "cave" under it, please.
A weak commentary by Nader on the awful proceedings in Washington. Unfortunately, Obama never has to plead for votes from most of his constituency, because they're not going to force him to do a much earned perp walk.
We might as well have the nuttiest Tea Party rep in the White House, since we're getting their policies anyway, basically. At least it would be easier to mobilize an opposition to a far right Republican.
"Not long ago, he was yelling that the answer to all our financial problems was to get the rich to solve everything."
What, you mean like get them to pay their damn share of taxes?
I'm very suspicious of your post.
Obama is a frontman for wallstreet and the pentagon. Bonner is. There's no surrender here. It was simply an argument over how badly they can screw everyone. Pretty badly, with only the worst to come.
Obama knows for whom he works. If they remain content, he remains in office.
Its easy to throw bricks through the editorial pages of on-line news about the lack of balls the President has and the willingness of the Democratic Party to "mildly protest" the madness exhibited by the Tea Party Ideologues. But I see no outrages in the streets, no protests of magnitude throughout America over this sellout of the American Middle Class...folks are still containing their "anger and frustrations" and are content to express their rage safely from the comfort of their homes. I include myself in this lack of fortitude. Question I have for myself and others is: Why do I and millions of others fail to show the government what I'm feeling in the streets?
arab spring
American Winter of Discontent
Obama has been doing what's necessary to get reelected - pleasing the owners.
This president hasn't caved into Wall Street or others of their greed and megalomaic ilk, he's their man as Jeff Cohen so aptly pointed out in a recent article or at least so it seemed to me.
What do I know? Regardless another question arises. If this president so sharp at pleasing the owners, how come the bottom is falliing out for the whole country, we keep going to war with another country right as some thought we were at war with too many already? Do these owners really want to see this country go down when it's their cash cow? I tend to doubt that. Some of them may let their greed get ahead of their brains and all common sense, but most have enough sense to not want become Lemmings. What makes anyone think those who are doing so well are eager to jump off a cliff? Don't confurse the owners with the servants known as the Tea Party who simply end up getting used as pawns by these cynical types. The real Tea Party rank and file have a need for some facts as well as some common sense. But perhaps a good number of them aren't completly batty but really desparate to believe in something with the progressive side not really at all engaging with many working people in the first place with some noteworthy exceptions such as Wisconsin and Ohio. But we have a whole country where progressives haven't got out the facts and pushed the advantages of egalitarian values and how this goes back to such a s Abraham Lincoln, Thomas Jefferson, and others. All for one and one for all is old fashioned but it realy can mean quite a lot. Real values not some BS is what these people need. Obvioulsy the puritan strain has some of them too brainwashed, but others have some humanist tendencies. When I was growing up even some Protetant fundamentalist would talk of egalitarian values as being good and not just as an abstract. Some of these people are "living lives of quite desperation" as Ralph Waldo Emerson would so astutely put it and need the ear and consideration and compassion which are so much a part of true progressive values. We truly believe in what Thomas Paine said when he said "Power to the people." That was the slogan which helped launch this nation by launching a rebellion against a despotism. We're now engaged in a struggle against yet another hierarchal despotism. But despotisms aren't as tradtional as some want us to believe and haven't always been with us. Let's remember as Karl Marx put it just right that the state created capitalism, that as we now know con servatives created despotism a mere at most 10 millennia ago and maybe less out of at least 100 millennia of modern human existence. Thus despotism of today in the USA isn't in the least the norm. It's quite the contrary. They are the ones going against tradtional values. It was capitalism which destroyed the natural and extended family replacing it with a marketing unit called the nuclear family to have for those with the wares to sell to sell those wares to. Thus they nuked the real and natural famliy and ripped up the basic social fabric of communities. We are the defenders of such communities and such values even if we can't get back the extended family. We won't let them keep ripping apart the crucial social fabric which is the glue holding communities and all humanity together.
You know, I have a LOT of problems, with the policies of the State of Israel, or even the forming of the State of Israel to begin with.
I have even more of a problem with an ignorant jerk like yourself, that needs to go get some of your hatred out of your system, and wear a nice white robe with a pointy head for a weekend or two.
Just stay out of people's lawns and don't hurt anyone, okay?
yes, Ecoeng deserves scolding for the jew bashing. however,He/she didnt get it totally wrong. there is a "tribe" to blame. Or at least a group of people to be aware of in this whole drama.
If there are 360 million "americans". there are about .25 percent who are really setting the agenda, increasingly, over the last 30 years. As wealth has accumulated at the top, their ranks have grown. What is 2.5percent of 360 million ? about 750 thousand people ! Tha'ts a lot !. Yes, many of them are rich bankers of jewish descent and i'm sure that many of them are in to funding zionist causes.
but most of them...the great majority, are not jewish.
An interesting part of human nature, is that you always compare yourself to the people around you. These ultra rich can always look at someone else (because they surround themselves with each other, naturally ) and say... "
Im not really rich...look at that guy and that guy...now that is real money , real power"
Mind you , these are people and families with jets and several AMAZING houses around the world....it is the same condition that we exhibit, who still have a job ( maybe ) and can look around and say.." well, at least I'm not as bad off as those people or that guy."
But it is this "tribe" of 750,000, that can drop $100,00, $250,00 $1 million ( each , if they so please) on a political campaign , or to lobby on a particular issue , because the comeback to them is clear and calculable. To them, it is just business.In their minds, not evil...just...how the world works.
It is on this "tribe"..that the attention needs to be focused.The "job creators".
It is a delicate subject. The waters should not be clouded with haggard and oh-so worn out cliches of the "evil jew"
I appreciate your comments.
Thank you for understanding, and not being offended by my very partial defense of Ecoeng...but to solve the "riddle" for AD, as described above, why would they ( the powers that be ) do things that seem make the boat rock ?...It is in the .25 percents' best interest to see the middle class, the stock market, real estate... the whole thing crash... disaster capitalism.....move in and scoop it up!
capitalism 101...cheap labor, land, etc....just got to look at it from their perspective.
agreed
Nothing pleases a rich, white man so much as a black man saying "Yes, Massah." Kudos to Obama.
Obama got everything he and his owners wanted.
More to come though.
I love Ralph Nader, don't get me wrong. But even HE doesn't seem to grasp that it was all political theatre, and Obama, and the new right wing Democratic leadership, got what they wanted, and played their public roles, in that sinister political theatre.
This is so surprising to me, that Ralph Nader, of all people, seems to be not that far removed from the way John Nichols, and others in the MSM, are framing this.
Everything is topsy turvy these days.
Obama's trademark impersonation of a pile wet disposable tissues is no longer plausible. He has played this game too many times. He has been playing this role since the time after he was elected and before he took the reigns of power. He pretends to be on our side, but always has some pathetic excuse as to why the Republicans will get their way, attempting to shift the blame on the republicans, as if it was they who were still in power.
I remember when just after Obama was elected and before he took power, Israel invaded Lebanon again, and ran out of bombs. GWB had more rushed in for them. People turned to their new HOPE, Obama, and asked him to speak out. Obama's response was that he could do nothing because he was not yet the president. That was his wet tissue excuse as why he could not speak out. He had the moral authority of a newly elected with an easy majority, and yet he did not speak out.
Later of course, during operation cast lead, etc, he could no longer use that same excuse, and was forced to reveal his true colors. Obama, like Hillary, is one who grovels before AIPAC. Clearly, he would have done the same as GWB in late 2008, but instead he LIED. He gave his trademark impersonation of a pile of wet tissue, allowing his base to believe that it was only because he was not yet president. He let the Republicans to take the blame, and pretended that he wanted to do the right thing, but unfortunately could not.
he, (o-our-prez)) was playing his role ever since he worked for the cia after columbia u...
Jesus Christ, Ralph!
I love a lot of your commentary, but this one is WAY off the mark.
Why on earth would you assume that Obama is on our side. He wanted to cut Social Security, Medicare, Medicaid, and all the rest. He did this all on purpose. He wanted to be "forced" into it.
Republicans could never have gotten away with this. We would have been better off if McCain had won back in '08.
It's also interesting that Nader goes on listing the cash and assets of the non-financial companies, but says nothing about the Banksters/Wall Street, when they've amassed much greater wealth. While I'm certainly no fan of the big corporations Nader listed, at least they are part of the real economy, as opposed to the Banksters who are trading derivatives, and other such convoluted gambling backed by the guarantee of tax-payer bailouts. I have no idea why Nader wouldn't include the Big Banks and Wall Street.
Very weak article, Mr. Nader - pleading with a Wall Street puppet like Obama to plead - I expect better from you!
Yes, and we should all be out in the streets, but alas this is America, and I'm just as guilty as anyone, because here I sit fuming in front of the computer.
This is my first time posting, and as many people have already pointed out, how can Mr. Nader truly believe that this latest manufactured crisis, with our passive manufactured consent, was a question of "caving." Complicity and collaboration on Obama's part yes; caving I don't think so.
Some one-liners inspired by Mr. Nader's nonetheless appreciated piece:
"The Allegory of 'The Cave'"
"Only The Super Congress Can Save Us" (yikes!)
And for any Latinists out there: "Cave cave" (Translation: Beware of the logic of the cave, i.e., mind-set that thinks that Obama is ever 'caving' to anything or is that stupid. Nefarious, yes; stupid, no.)
empireisaracket.
Welcome to the "Club". :-)
For 2 years before he was elected President, every single day I had heated argument with my co-workers in the office (99 % of them right-wing republican), defending Barak Obama. WHAT A MISTAKE!!! HOW STUPID I WAS!!! AND WHAT A DISAPPOINTMENT THIS GUY HAS BEEN!!! WOW!!!
I had no idea that Obama was a jellyfish and had no spine whatsoever. I think his cowardice and lack of courage and fighting spirit might be due to the fact that he was raised by a single mother and did not have a father at home. He is so weak, he makes me sick!!! I can no longer even listen to him when he speaks on television. As a matter of fact, I have started to hate most of the democrats. They are a bunch of pussies.
I wholeheartedly agree with stubones49 that someone should challenge Obama in the primary for the 2012 Election. If he is the nominee of the Democratic Party in the next election, I will give my vote to a dog, before I give it to Barak Obama.
Sorry Ali but this is mistaken, "I think his cowardice and lack of courage and fighting spirit might be due to the fact that he was raised by a single mother and did not have a father at home. "
He isn't a jelly fish, he is doing exactly what he intended or what the true rulers of the country wanted. They knew they had to neuter the opposition and the best way to do that is to get one of your own on the inside. So more like a cuckoo bird who lays its eggs in another bird's nest to be raised by them. The young cuckoo kills the bird's real offspring.
I know a lot of very strong people who were raised by single moms. You probably do too; you may not know it because people don't always talk about that. Sometimes not having a father in the home means taking on that role. There's a whole lot of us who can say, like Tom Petty, "I stand my ground."
Hey, it looks like paragraphs are back.
I wrote to him today suggesting that he should just run as a Republican.
Nader, I hope you read your comments because a lot of posters made valid comments. Bottom-line is this article is an aberration by you, as your article sounds like it is written by a corporate media Democratic pundit that is still holding his/her breath that any day now "liberal Obama" will show up. I hope you just had a bad day.
Ditto.
Here's the Obama con job explained with precision:
By Michael Hudson, June 27th:
"Mr. Obama’s scare tactics to get Democrats to vote for his Republican Wall Street plan"
The Wall Street bailout melodrama should be viewed as a dress rehearsal for today’s debt-ceiling non-crisis.
You know that the debt kerfuffle is as melodramatically staged as a World Wrestling Federation exhibition when Mr. Obama makes the blatantly empty threat that if Congress does not “tackle the tough challenges of entitlement and tax reform,” there won’t be money to pay Social Security checks next month. In his debt speech last night (July 25), he threatened that if “we default, we would not have enough money to pay all of our bills – bills that include monthly Social Security checks, veterans’ benefits, and the government contracts we’ve signed with thousands of businesses.”
This is not remotely true. But it has become the scare theme for over a week now, ever since the President used almost the same words in his interview with CBS Evening News anchor Scott Pelley.
Of course the government will have enough money to pay the monthly Social Security checks. The Social Security administration has its own savings – in Treasury bills. I realize that lawyers (such as Mr. Obama and indeed most American presidents) rarely understand economics. But this is a legal issue. Mr. Obama certainly must know that Social Security is solvent, with liquid securities to pay for many decades to come. Yet Mr. Obama has put Social Security at the very top of his hit list!
The most reasonable explanation for his empty threat is that he is trying to panic the elderly into hoping that somehow the budget deal he seems to have up his sleeve can save them. The reality, of course, is that they are being led to economic slaughter. (And not a word of correction reminding the President of financial reality from Rubinomics Treasury Secretary Geithner, neoliberal Fed Chairman Bernanke or anyone else in the Wall Street Democrat administration, formerly known as the Democratic Leadership Council.)
It is a con.
Mr. Obama has come to bury Social Security, Medicare and Medicaid, not to save but them. This was clear from the outset of his administration when he appointed his Deficit Reduction Commission, headed by avowed enemies of Social Security Republican Senator Alan Simpson of Wyoming, and President Clinton’s Rubinomics chief of staff Erskine Bowles. Mr. Obama’s more recent choice of Republicans and Blue Dog Democrats be delegated by Congress to rewrite the tax code on a bipartisan manner – so that it cannot be challenged – is a ploy to pass a tax “reform” that democratically elected representatives never could be expected to do.
The devil is always in the details. And Wall Street lobbyists always have such details tucked away in their briefcases to put in the hands of their favored congressmen and dedicated senators. And in this case they have the President, who has taken their advice as to whom to appoint as his cabinet to act as factotums to capture the government on their behalf and create “socialism for the rich.”
There is no such thing, of course. When governments are run by the rich, it is called oligarchy. Plato’s dialogues made clear that rather than viewing societies as democracies or oligarchies, it was best to view them in motion. Democracies tended to polarize economically (mainly between creditors and debtors) into oligarchies. These in turn tended to make themselves into hereditary aristocracies. In time, leading families would fight among themselves, and one group (such as Kleisthenes in Athens in 507 BC) would “take the people into his party” and create a democracy. And so the eternal political triangle would go on.
This is what is happening today. Instead of enjoying what the Progressive Era anticipated – an evolution into socialism, with government providing basic infrastructure and other needs on a subsidized basis – we are seeing a lapse back into neo-feudalism. The difference, of course, is that this time around society is not controlled by military grabbers of the land. Finance today achieves what military force did in times past. Instead of being tied to the land as under feudalism, families today may live wherever they want – as long as they take on a lifetime of debt to pay the mortgage on whatever home they buy.
And instead of society paying land rent and tribute to conquerors, we pay the bankers. Just as access to the land was a precondition for families to feed themselves under feudalism, one needs access to credit, to water, medical care, pensions or Social Security and other basic needs today – and must pay interest, fees and monopoly rent to the neo-feudal oligarchy that is now making its deft move from the United States to Ireland and Greece.
The U.S. Government has spent $13 trillion in financial bailouts since Lehman Bros. failed in September 2008. But Mr. Obama warns that thirty years from now, the Social Security fund may run a $1 trillion deficit. It is to ward it off that he urges dismantling the plans for such payments now.
It seems that the $13 trillion used up all the money the government really has. The banks and Wall Street firms have taken the money and run. There is not enough to pay for Social Security, Medicare or other social spending that the Blue Dog Democrats and Republicans now plan to cut.
Not right away. The plan will be to “paper over” the current crisis by delegating the plans to a “Deficit Reduction Commission #2,” appointed from Congressional members.
Finally, we have “Change we can believe in.”
YJoseph. Your comment is better than Ralph's essay. It is a con, pure theater, and America eats that stuff up. Works every time. Suckers! It's like the Koch brothers' Americans for Prosperity--we're going to milk Americans for our prosperity--or like the Twilight Zone's "How to Serve Man" only it's how to serve America--with a side of irony.
The title should have been: The lesser of two evils now official government policy.
Ralph, It's nice to see some haven't given up Hope. Hang in there, buddy, and maybe, just maybe, the corporate overlords will reward you. But their memories are long, and your sins against them many, so I wouldn't hold my breath.
Ralph, you would make a great Progressive Democratic Presidential candidate. We can take over the majority party and vote out the cons like we began to last election.
Yes, but look on the bright side...all of this puts the empire closer to collapse.
As for all the money at the top:
"Keep stretching a bow, you repent of the pull"---LoaTzu