Government by Default

Corporate leaders, right-wing media moguls, speculators, bankers and hedge fund managers were all cheering as the election returns rolled in. Oh, they had their little disappointments, both in California and New York. The oil companies suffered the most, having spent well over a $100 million to repeal California's global warming law: their proposition failed.

Generally, big business won, defense won, and the American people were sold a shoddy bill of goods. What did the people vote for? Kicking the bums out. According to Pew's polls, the economy, i.e. jobs, was by far the most important issue (to 61%): what people wanted was more of them. Repealing health care reform, or substantially changing it was important to only 21%.

However, John Boehner, new Speaker-designate, vowed that a health care repeal bill was the first order of business. And what will Republicans propose as stimulus, to create jobs? Cut taxes, or specifically, make the Bush tax cuts permanent, including tax cuts for those poor mites who earn more than $250,000 a year, and even for those heroes of enterprise who earn a $100 million or more. That is supposed to create jobs, but corporations are already rolling in money, even as they lay off more employees.

The Fed's response is to go big ($600 billion) on Quantitative Easing, or creating money. Fed chief, Bernanke, nearly pleaded with Congress for greater fiscal stimulus, but he could see that Congress isn't going to pass one. Ironically, it may increase the deficit by cutting taxes and pushing for a more aggressive defense policy. Cutting "waste" is a fraud, and even Republicans know that.

So, how are Republicans going to solve the jobs issue? They can't; they will make it worse, so they will continue their diversionary politics--and blame all our troubles on Obama.

Meanwhile, the corporations are getting exactly what they paid for. Stalemate in Washington means: no interference, unilateral control over their own multinational estates and their pursuit of maximum profits, everywhere.

What corporations really want? Government to concern itself only with protecting them and their assets, both at home and abroad, but certainly not to concern itself with the people's welfare: ultimately, corporations want to control that, too, for a profit.

How would workers fare under unrestrained corporate rule? Forget about minimum wages, maximum hours, safe working conditions, or safe food and drink. Forget about a chance to "make it rich," an American dream that fools many into supporting the corporate agenda. Only a tiny elite will "make it," and most of them will come from the already elite. Everyone else will be overworked and underpaid, or cast off to survive however they can, including crime. Security companies should thrive! So should private prisons.

America's Roman Senators just took a giant step towards our equivalent of the Fall of Rome.