They're much the same. Roman Senators in fifth century Rome were the wealthy elite; they had formal titles; our elite does not. There are no legal disabilities and privileges dividing society, as there were in the fifth century, but it hardly matters.
In both eras, the dominant "Senators" constructed schemes to loot the wealth everyone else produced. Maybe it was a natural outgrowth of the Roman Empire's conquest-slave society. But it's happened here especially with the explosion of the financial sector--supported by empire, the US and wealthy nation's national banks.
Alan Greenspan helped create the casino financial system, opening the door to Wall Street's "inventions," like Credit Default Swaps, and even, variable interest mortgages, encouraging homeowners to cash in, to gamble, or buy ATV's.
In Roman times, Senators arranged it so they could collect everyone else's taxes, while avoiding taxes themselves. They used their positions and connections in the Imperial bureaucracy to collect all the gold, land and slaves in the empire, impoverishing everyone else. In the US, today, Warren Buffet and his hedge fund colleagues pay taxes, but despite the many millions they earn, they pay at about half the rate of ordinary Americans. Obama and Congress just extended low income tax rates for the wealthy, who already pay lower rates on capital gains, interest, and payroll taxes. They’ve cornered most of the new wealth created since 1975.
In the US, the Fed creates money for the elite: it's been expanding the money supply for decades. Why for the elite? Low interest rates--virtually zero for the banks--allow them to make cost-free profits on the rest of us. Have you ever borrowed money at zero interest? Further, cheap money induces fools (like me) into the stock market, but the sophisticated traders, the ones with "algorithms" and computer programs--and lots of virtually free capital--are the ones who walk away with profits. The rest of us buy high, sell low, and enrich our brokers with fees.
Of course, Wall Street isn't the only reason why US wealth concentrated at a staggering rate since the 1970's. There was the Reagan "revolution," the proliferation of conservative "think tanks" (propaganda sites now fueling Fox News) the Clinton collaboration, W's triumph, and now Obama's compromise/capitulation. With the important exception of Clinton's tax hike on the wealthy, all the rules, all the financial innovations, all the dilution of regulations, were directed toward the enrichment of a tiny elite.
And it has prospered. Wall Street, after the massive government bailouts of 2007-8, has sucked in greater profits, largely from gambling with government money, than it ever did before: in the midst of the Great Recession, with 9.6-18% unemployment, job insecurity, and banks gambling, instead of lending.
We're not out of recession, but we're on our way to another bubble crash. The elite, like 5th century Roman Senators, could capture all the wealth.
Wednesday, December 29, 2010
Monday, December 20, 2010
Tax Cuts a Bad Deal
So, the tax-cut compromise is a done deal.
The Republicans were clever; they repeated ad infinitum: don't raise taxes in a recession. But continued tax-cuts for the wealthy will be counterproductive.
We'll have to borrow $700-$800 billion (probably from China or Saudi Arabia) to pay for their lower taxes. But that money will not stimulate the economy. It will buy speculation on the stock market, or investment overseas long before it creates a single job here. It will also exacerbate US inequality. Already the US has one of the most unequal distributions of wealth among developed nations.
Tax cuts for those below $250,000 income, will mostly be spent in the US, on consumer goods, and on homes, creating demand for jobs. Even here, many of the consumer goods would be imports, so many of those dollars will fly out of the country. Leakage of any kind of spending, except direct government expenditures on something like a WPA, is to be expected in an economy as open as ours.
The effects of the tax cuts are not only economic; they are also social. Economic inequality increases social distance. When you have escalating social distance, you lose a sense of community. That's why legislators who have lived lives insulated from economic hardship, elected by money from the wealthy, can credibly threaten to cut off an unemployment extension, or argue that poor rich kids need tax breaks even more than the long-term unemployed need benefits. Further, high inequality is an economic handicap to the nation, since consumption by the wealthy cannot substitute for mass consumption as an economic base for a stable economy; inequality makes economic instability more likely: prosperity depends on a small minority.
Inequality is even a health hazard: inequality of wealth is directly correlated with poorer overall health of the population. This is partly due to unequal access to health care, but is also due to higher levels of anxiety, which extends even to the wealthiest. Why? Greater inequality breeds resentment, crime and violence.
Obama's compromise was a bad deal for everyone. The pre-Bush tax rates for the over $250,000, should have been restored. I think they should be raised, because the top 2% have cornered most of the growth in wealth produced by everyone since 1980. That's why wages have hardly budged since the '70's.
Further, corporations are swimming in cash, and only slowly hiring or loaning out money. So, more money in elite pockets will not promote investment, or create jobs--except maybe in China or Malaysia.
As the recent elections demonstrated, large aggregations of wealth skew the balance of political power. The Compromise illustrates the consequences: a one-year unemployment extension vs two years of high-end tax-cuts and a more unstable economy.
Our equivalent of fifth century Roman Senators has prevailed, to even their ultimate detriment. It is one more step towards our own 476 ( (See: Fall of Rome).
Thursday, December 16, 2010
Next Right-wing Target
They anticipate that their dirty deal with Obama is sealed, and will pass even in the Democratic House. Why Democrats will pass such a monster is another question.
So, right-wingers are pleased about the $700-800 billion in income tax breaks for those who don't need it--people earning over $250,000 a year. They also are moderately pleased with the Estate Tax deal, in which estates under $5 million will be exempt, and the rate above that is lowered to 35%. Actually, many right-wingers want to eliminate the estate tax altogether. They don't call it the "Death Tax" for nothing. Under Bush, they had put in place the budget-busting Medicare Part D, which is lavish to big Pharma, as well as the tax cuts now being renewed.
So, what is their next target? They are mobilizing to prevent the GOP from supporting "compromise" on the debt ceiling. It's currently at $14.3 trillion.
That looks like a large number, and it is, but the US keeps on bumping up against whatever ceiling is current law; it has been for years--except during Clinton's last two years.
Before the Great Recession, the biggest and fastest addition to the debt was during the Bush II administration. Trillions in debt were added from the two unjustified wars, the two rounds of tax cuts and the unfunded Medicare Part D.
The recession, as recessions always do, caused the debt to rise further, because the unemployed and/or defaulted homeowner is unlikely to pay income tax, but aid to both means the government has to borrow. Would it be better to let people starve in the streets? Or sink into a depression?
Right-wingers seem to think so. They don't expect to be the ones who do the starving. They apparently assume that if people don't have jobs, it's their own faults--after all, jobs are listed in newspapers and online, so why aren't people working? They have it too easy with unemployment insurance! Those stupid Democrats wanted unemployment benefits extended; it was the lever Republicans used to get their way.
However, if the government runs out of money, it won't pay unemployment. To stop the government from borrowing will, effectively, stop the government from operating.
Why do right-wingers want this?
There is much rhetoric in right-wing venues about the damage government does. Their assumption is that a coming period of stalemate will be a good thing: it will stop that African Socialist, Obama, from expanding government programs and regulations. It will also demonstrate what right-wingers believe: government can't do anything right. If they can hamstring government until the 2012 election, then right-wingers can regain power.
But they don't appear to care if, in the process, they drive the US into a depression. If they succeed, the US will lose the dollar's reserve status. Then, goodbye American Empire.
So, right-wingers are pleased about the $700-800 billion in income tax breaks for those who don't need it--people earning over $250,000 a year. They also are moderately pleased with the Estate Tax deal, in which estates under $5 million will be exempt, and the rate above that is lowered to 35%. Actually, many right-wingers want to eliminate the estate tax altogether. They don't call it the "Death Tax" for nothing. Under Bush, they had put in place the budget-busting Medicare Part D, which is lavish to big Pharma, as well as the tax cuts now being renewed.
So, what is their next target? They are mobilizing to prevent the GOP from supporting "compromise" on the debt ceiling. It's currently at $14.3 trillion.
That looks like a large number, and it is, but the US keeps on bumping up against whatever ceiling is current law; it has been for years--except during Clinton's last two years.
Before the Great Recession, the biggest and fastest addition to the debt was during the Bush II administration. Trillions in debt were added from the two unjustified wars, the two rounds of tax cuts and the unfunded Medicare Part D.
The recession, as recessions always do, caused the debt to rise further, because the unemployed and/or defaulted homeowner is unlikely to pay income tax, but aid to both means the government has to borrow. Would it be better to let people starve in the streets? Or sink into a depression?
Right-wingers seem to think so. They don't expect to be the ones who do the starving. They apparently assume that if people don't have jobs, it's their own faults--after all, jobs are listed in newspapers and online, so why aren't people working? They have it too easy with unemployment insurance! Those stupid Democrats wanted unemployment benefits extended; it was the lever Republicans used to get their way.
However, if the government runs out of money, it won't pay unemployment. To stop the government from borrowing will, effectively, stop the government from operating.
Why do right-wingers want this?
There is much rhetoric in right-wing venues about the damage government does. Their assumption is that a coming period of stalemate will be a good thing: it will stop that African Socialist, Obama, from expanding government programs and regulations. It will also demonstrate what right-wingers believe: government can't do anything right. If they can hamstring government until the 2012 election, then right-wingers can regain power.
But they don't appear to care if, in the process, they drive the US into a depression. If they succeed, the US will lose the dollar's reserve status. Then, goodbye American Empire.
Tuesday, December 14, 2010
Wiki-Revolution II
Wikileaks has added a new wrinkle to non-violent protest. Neither Gandhi, nor Martin Luther King could reach so many, to unveil the secrets, of violence and corruption, by so many, over most of the globe. Neither could stop wars, and perhaps wikileaks can't either, but it can certainly reach the masses of people with the information they need, so popular revulsion could stop them. It's possible.
The wikileaks case is radical. Political alliances crumble, and others emerge in unforeseen places, like conservative libertarians and anti-war progressives: Ron Paul insisted that Assange is only the publisher and that nobody was killed by the document dump, compared to the many killed in illegal wars caused by lying, the very thing the documents illustrate. He said if Assange is prosecuted, then the Times and WaPo should be as well. He claimed (as Ellsberg has) that what Assange did was just as legal as Daniel Ellsberg, and the Pentagon Papers. Some claim that Assange is no Ellsberg, but one funny fact is: Ellsberg loudly proclaims that he is.
However, this is bigger than one person. What wikileaks wrought is not simply Assange's creation. As wikileaks' name implies, it involves the cooperation of numberless collaborators all over the world, but it has also awakened a sleeping giant--yes, like Gandhi awakening colonized Indians from their torpor. The counter-offensive, after wikileaks was attacked, on the web and financially, has made people wake up. If you have a computer, and you're enraged at the world as presently constituted, here is a bloodless, even relatively safe, way of expressing your outrage, and perhaps forcing changes. Technology now being what it is, it is entirely possible that a small global movement, say 1 million strong, could force the world's governments to negotiate, to stop their wars, to enforce fair labor laws worldwide, to oppose the power of global corporations, or to act definitively and decisively on global climate change.
Anonymous demonstrates a whole new power, much more direct, non-violent, and populist. Yes, you have to have minimal understanding of computers, and a computer, of course, but computers and computer literacy are like a disease spreading across the globe with lightning speed.
On matters of free speech, and on wars and secrecy, progressives should look around them. As Ron Paul's speech indicates, progressives can find allies in funny places: progressives and libertarians have more in common than they think. There will be more libertarians, and hardly fewer progressives in the next Congress. Think how progressive the free exchange of information could be.
In addition, the resulting generation of hacktavists could make it possible to dismantle The Empire without bloodshed. The US might emulate Britain, peacefully withdrawing, instead of collapsing, like the fall of Rome.
The wikileaks case is radical. Political alliances crumble, and others emerge in unforeseen places, like conservative libertarians and anti-war progressives: Ron Paul insisted that Assange is only the publisher and that nobody was killed by the document dump, compared to the many killed in illegal wars caused by lying, the very thing the documents illustrate. He said if Assange is prosecuted, then the Times and WaPo should be as well. He claimed (as Ellsberg has) that what Assange did was just as legal as Daniel Ellsberg, and the Pentagon Papers. Some claim that Assange is no Ellsberg, but one funny fact is: Ellsberg loudly proclaims that he is.
However, this is bigger than one person. What wikileaks wrought is not simply Assange's creation. As wikileaks' name implies, it involves the cooperation of numberless collaborators all over the world, but it has also awakened a sleeping giant--yes, like Gandhi awakening colonized Indians from their torpor. The counter-offensive, after wikileaks was attacked, on the web and financially, has made people wake up. If you have a computer, and you're enraged at the world as presently constituted, here is a bloodless, even relatively safe, way of expressing your outrage, and perhaps forcing changes. Technology now being what it is, it is entirely possible that a small global movement, say 1 million strong, could force the world's governments to negotiate, to stop their wars, to enforce fair labor laws worldwide, to oppose the power of global corporations, or to act definitively and decisively on global climate change.
Anonymous demonstrates a whole new power, much more direct, non-violent, and populist. Yes, you have to have minimal understanding of computers, and a computer, of course, but computers and computer literacy are like a disease spreading across the globe with lightning speed.
On matters of free speech, and on wars and secrecy, progressives should look around them. As Ron Paul's speech indicates, progressives can find allies in funny places: progressives and libertarians have more in common than they think. There will be more libertarians, and hardly fewer progressives in the next Congress. Think how progressive the free exchange of information could be.
In addition, the resulting generation of hacktavists could make it possible to dismantle The Empire without bloodshed. The US might emulate Britain, peacefully withdrawing, instead of collapsing, like the fall of Rome.
Friday, December 10, 2010
Bloodless Wiki-Revolution
One of the things about the confrontation, wikileaks vs authorities, is that no blood has been spilled.
Despite all the bombast about "endangering Americans and our allies," it's clear that wikileaks and the cooperating news outlets have been very careful to insure no individual will be endangered. People are shown to be corrupt, or brutal, arbitrary or incompetent, but that doesn't kill them. It may shame them, but shame may be justified. Or, they may be embarrassed.
If there is one thing people of large egos fear more than death, it's embarrassment. Almost all political leaders, almost by definition, have large egos.
I said, on my 11/30 blog, that "if people laugh, it's all over." Maybe, that's why there have been such determined offensives by the US, and by some corporations against wikileaks: they could have been modeled on any number of authoritarian regimes. Corporate responses: shutting off donation routes, shutting off accounts, canceling site hosting, may be protective (in case GOP crazies make business with wikileaks into treason). Maybe, as well, they responded because wikileaks is attacking their people, the ones they influence, know and work with: their Generals, administrators, diplomats, Congressmen, Senators, President, the government they support, because it supports them.
It is heartening to know that revolutionary protest isn't confined to France or Thailand, and is possible, in cyber terms, all over the world. And it is strikingly non-violent.
We have enough blood and guts wars in Iraq, Afghanistan, maybe Somalia, Yemen--. So, by contrast, General Assange's master-stroke flew through electronic space, killing no one. Further, his "attack" only makes it more difficult for governments to hide behind secrecy, or to rely on it.
Is that so damaging? Perhaps to people used to exercising power out of the public eye. For them it could be a danger to their careers, at least. There were demands that Hillary resign, when the first State Department cables were released by wikileaks, although the demands have since died down.
Wikileaks emerged into my consciousness a couple of years ago, when "Julian" started sending me documents on Kenyan political corruption, and then classified military handbooks. I was initially startled, because my son's name is Julian. Unfortunately, I couldn't use Assange's documents, so, I joke, "Julian" went to the NY Times, instead!
Wiki-allies' counter-offensive, if only symbolic, like one-day walk-out strikes, demonstrates that there are real populist forces out there in cyber-land, and they aren't toothless. Think about it: if enough people became so discontented that they became hacktivists, if their number grew into the millions, instead of a few thousand, they could bring civilization to its knees! What would they demand? Freedom of information.
Transparency is probably the most democratizing force on the planet, but things may have to fall apart further, before our Roman Senators withdraw their grubby fingers from deep inside our pockets.
Despite all the bombast about "endangering Americans and our allies," it's clear that wikileaks and the cooperating news outlets have been very careful to insure no individual will be endangered. People are shown to be corrupt, or brutal, arbitrary or incompetent, but that doesn't kill them. It may shame them, but shame may be justified. Or, they may be embarrassed.
If there is one thing people of large egos fear more than death, it's embarrassment. Almost all political leaders, almost by definition, have large egos.
I said, on my 11/30 blog, that "if people laugh, it's all over." Maybe, that's why there have been such determined offensives by the US, and by some corporations against wikileaks: they could have been modeled on any number of authoritarian regimes. Corporate responses: shutting off donation routes, shutting off accounts, canceling site hosting, may be protective (in case GOP crazies make business with wikileaks into treason). Maybe, as well, they responded because wikileaks is attacking their people, the ones they influence, know and work with: their Generals, administrators, diplomats, Congressmen, Senators, President, the government they support, because it supports them.
It is heartening to know that revolutionary protest isn't confined to France or Thailand, and is possible, in cyber terms, all over the world. And it is strikingly non-violent.
We have enough blood and guts wars in Iraq, Afghanistan, maybe Somalia, Yemen--. So, by contrast, General Assange's master-stroke flew through electronic space, killing no one. Further, his "attack" only makes it more difficult for governments to hide behind secrecy, or to rely on it.
Is that so damaging? Perhaps to people used to exercising power out of the public eye. For them it could be a danger to their careers, at least. There were demands that Hillary resign, when the first State Department cables were released by wikileaks, although the demands have since died down.
Wikileaks emerged into my consciousness a couple of years ago, when "Julian" started sending me documents on Kenyan political corruption, and then classified military handbooks. I was initially startled, because my son's name is Julian. Unfortunately, I couldn't use Assange's documents, so, I joke, "Julian" went to the NY Times, instead!
Wiki-allies' counter-offensive, if only symbolic, like one-day walk-out strikes, demonstrates that there are real populist forces out there in cyber-land, and they aren't toothless. Think about it: if enough people became so discontented that they became hacktivists, if their number grew into the millions, instead of a few thousand, they could bring civilization to its knees! What would they demand? Freedom of information.
Transparency is probably the most democratizing force on the planet, but things may have to fall apart further, before our Roman Senators withdraw their grubby fingers from deep inside our pockets.
Tuesday, December 7, 2010
Come-on to Apocalypse
Today, I got a letter, no heading, from the "President of the Sovereign Society." She has a website: she spells the nation, "Amerika," as in escape from! She sells a how-to to gain dual citizenship and more.
These missives come from a conservative publishing group: I recognize the MO.
Many trot out tired bromides of the right, but this one is revealing. It lays out the dream of would-be capitalists, who scream loudest about Freedom, and: America has been ruined (by that Socialist Obama and that cowboy, W). Astoundingly, Erika is selling "government health programs and FREE prescriptions," while you "live like royalty for less than $390 a week;" the four countries most affordable for retirees; how you can gain business and tax benefits with dual citizenship, and so on.
Other newsletters in the network provide interesting stock analysis and questionable advice, but the MO is telling. It never lays out something for you to read, until after you subscribe. They give a presentation: a rolling script, while a voice hypes the argument. You can't move forward or back; it forces you to hear each agonizing minute if you want to figure out what they're selling. If you try to cancel, it yells at you, in print--or voice over it--that you mustn't give up this chance NOW! Every time I've watched one, it concludes by selling a subscription to another, more specialized newsletter that will: solve all your health problems, or make you rich, instantly, protect you from the coming apocalypse, or, in this case, sell you a newsletter for fleeing the United States. The subscriptions go upwards from the $35 for an extended advertisement for other newsletters, to several thousand for the "elite" stock advice sheets.
Having received one for free and then another for $35 (deductible as an expense), I can see a pattern. First of all, a significant share of the financial advice is either to buy gold, since everything will collapse soon, or oil, the more polluting the better. Some recommendations are interesting, but when I check the buy figures, they're almost always late--buy below $6.50, when it hasn't been below $6.50 for weeks. The newsletters are sparing of real recommendations, but lavish in selling other newsletters.
Their star economic commentator, a Brit, gives scornful analysis of the US economy; he lives in Taiwan.
There is something this audience shares with the left: a conviction that the US is in inevitable decline. However, they are sanguine about it--and eager to exploit it. Then, as reward, there are "over 80 beautiful, get-away countries," where you could establish residency, and maintain "your personal privacy and affluence."
They are wannabe Roman Senators; Roman Senators buried their gold before Rome's "fall." Afterwards, the barbarians tortured them to get it for themselves.
These missives come from a conservative publishing group: I recognize the MO.
Many trot out tired bromides of the right, but this one is revealing. It lays out the dream of would-be capitalists, who scream loudest about Freedom, and: America has been ruined (by that Socialist Obama and that cowboy, W). Astoundingly, Erika is selling "government health programs and FREE prescriptions," while you "live like royalty for less than $390 a week;" the four countries most affordable for retirees; how you can gain business and tax benefits with dual citizenship, and so on.
Other newsletters in the network provide interesting stock analysis and questionable advice, but the MO is telling. It never lays out something for you to read, until after you subscribe. They give a presentation: a rolling script, while a voice hypes the argument. You can't move forward or back; it forces you to hear each agonizing minute if you want to figure out what they're selling. If you try to cancel, it yells at you, in print--or voice over it--that you mustn't give up this chance NOW! Every time I've watched one, it concludes by selling a subscription to another, more specialized newsletter that will: solve all your health problems, or make you rich, instantly, protect you from the coming apocalypse, or, in this case, sell you a newsletter for fleeing the United States. The subscriptions go upwards from the $35 for an extended advertisement for other newsletters, to several thousand for the "elite" stock advice sheets.
Having received one for free and then another for $35 (deductible as an expense), I can see a pattern. First of all, a significant share of the financial advice is either to buy gold, since everything will collapse soon, or oil, the more polluting the better. Some recommendations are interesting, but when I check the buy figures, they're almost always late--buy below $6.50, when it hasn't been below $6.50 for weeks. The newsletters are sparing of real recommendations, but lavish in selling other newsletters.
Their star economic commentator, a Brit, gives scornful analysis of the US economy; he lives in Taiwan.
There is something this audience shares with the left: a conviction that the US is in inevitable decline. However, they are sanguine about it--and eager to exploit it. Then, as reward, there are "over 80 beautiful, get-away countries," where you could establish residency, and maintain "your personal privacy and affluence."
They are wannabe Roman Senators; Roman Senators buried their gold before Rome's "fall." Afterwards, the barbarians tortured them to get it for themselves.
Thursday, December 2, 2010
Obama: Ordinary Politician
The American people have been betrayed. An election stolen; a popular election and a surge of hope: hope disappointed; another election bought.
Obama perpetuates the failing policies of the past: he depends on "experts" from the past. While he could give inspirational speeches as a candidate, he's a pedagogue as President, rarely a fighter. He went from talking about changing the dialogue, to repeating it.
Obama is now going to cut (government) workers wages to trim the deficit, while unemployment is high and borrowing is dirt-cheap. Wage-cuts will slow down the economy further, increasing the deficit. He's talking about "compromising" with Republicans, by caving in on continuing tax cuts to the over $250,000 crowd. That would add $700 billion to the deficit, but few jobs.
He signed a health care bill, but like Medicare Part D, signed by W, it caters to the needs of the health care industry far more than patients, and provides no alternative to private health insurance; he could have pushed for the public option but Rahm Emmanuel persuaded him otherwise. "Reform" will give insurers huge new markets, subsidized by Uncle Sam.
He did sign a New Start treaty that cuts nuclear weapons, but his timid, transactional politics, reinforced by the Senate Democratic leadership, makes it unlikely to be ratified in this Congress; it won't be in the next.
Has he gotten us out of wars? Obama campaigned against Iraq, but we're still in it: our military is angling to stay after the 2011 treaty cut-off negotiated by Bush! And we're in up to our ears in Afghanistan--now until 2014. And Pakistan, and--the torturers are unpunished, and Guantanamo still has inmates.
Obama campaigned on the need for an international agreement on climate change, deploring Bush's rejection of Kyoto. He went to Copenhagen empty-handed from Congress (no climate change legislation passed), but he didn't use the EPA's so-far unchallenged mandate to regulate CO2 as leverage. So, no agreement was reached, just a handshake on the "we'll try to reduce emissions," mantra.
Then there's the deficit commission. Obama appointed advocates for dismantling Social Security and Medicare. So, of course, the co-chairs propose cutting Social Security, not raising the cap to better finance it, and cutting Medicare, not restructuring health care so we can pay for it.
Obama hasn't even challenged the false notion that Social Security contributes to the deficit; it doesn't. Instead, he tries to co-opt Republican anxiety about deficit spending, while millions are without jobs, or homes, and the economy is stuck. The nation needs a huge public works/public jobs program, not deficit-cutting: not until unemployment is slashed.
Obama is hardly a reformer like Emperor Majorian. Despite his rhetoric, he is a lesser Emperor, like Glycerius, creature of Generals and Senators, two years before the fall of Rome.
Obama perpetuates the failing policies of the past: he depends on "experts" from the past. While he could give inspirational speeches as a candidate, he's a pedagogue as President, rarely a fighter. He went from talking about changing the dialogue, to repeating it.
Obama is now going to cut (government) workers wages to trim the deficit, while unemployment is high and borrowing is dirt-cheap. Wage-cuts will slow down the economy further, increasing the deficit. He's talking about "compromising" with Republicans, by caving in on continuing tax cuts to the over $250,000 crowd. That would add $700 billion to the deficit, but few jobs.
He signed a health care bill, but like Medicare Part D, signed by W, it caters to the needs of the health care industry far more than patients, and provides no alternative to private health insurance; he could have pushed for the public option but Rahm Emmanuel persuaded him otherwise. "Reform" will give insurers huge new markets, subsidized by Uncle Sam.
He did sign a New Start treaty that cuts nuclear weapons, but his timid, transactional politics, reinforced by the Senate Democratic leadership, makes it unlikely to be ratified in this Congress; it won't be in the next.
Has he gotten us out of wars? Obama campaigned against Iraq, but we're still in it: our military is angling to stay after the 2011 treaty cut-off negotiated by Bush! And we're in up to our ears in Afghanistan--now until 2014. And Pakistan, and--the torturers are unpunished, and Guantanamo still has inmates.
Obama campaigned on the need for an international agreement on climate change, deploring Bush's rejection of Kyoto. He went to Copenhagen empty-handed from Congress (no climate change legislation passed), but he didn't use the EPA's so-far unchallenged mandate to regulate CO2 as leverage. So, no agreement was reached, just a handshake on the "we'll try to reduce emissions," mantra.
Then there's the deficit commission. Obama appointed advocates for dismantling Social Security and Medicare. So, of course, the co-chairs propose cutting Social Security, not raising the cap to better finance it, and cutting Medicare, not restructuring health care so we can pay for it.
Obama hasn't even challenged the false notion that Social Security contributes to the deficit; it doesn't. Instead, he tries to co-opt Republican anxiety about deficit spending, while millions are without jobs, or homes, and the economy is stuck. The nation needs a huge public works/public jobs program, not deficit-cutting: not until unemployment is slashed.
Obama is hardly a reformer like Emperor Majorian. Despite his rhetoric, he is a lesser Emperor, like Glycerius, creature of Generals and Senators, two years before the fall of Rome.
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