Assigning Blame for the Economic Crisis
OPS_admin | Jun 19, 2009 | Comments 0
Assigning Blame for the Economic Crisis | CommonDreams.org
A government investigation into the financial crisis could promote economic reform and give Democrats a big political boost
by Mark Weisbrot
Plans are already being made for the 2010 elections for the US Congress, and the Democrats would appear to have some advantages. They have a popular president, a six-percentage-point lead in party identification and nine points for a generic congressional ballot. Majorities of the electorate see both Barack Obama and the Democratic party as pushing for a change from the failed policies of the past. The Republicans seem divided and confused over a recovery strategy, plagued by high-level defections (such as senator Arlen Specter) and spokespeople (such as Rush Limbaugh and Dick Cheney) who seem too extreme to win over the necessary swing voters.
But the president’s party almost always loses congressional seats in non-presidential-year elections. And if next year’s elections reduce the Democrats’ margin, it would be even more difficult to make progress on important reform legislation, such as healthcare. At the end of the day, the ability to deliver reforms that actually improve the lives of the majority of Americans will most likely determine their long-term success as a political party.
The 2010 elections will very likely be about who gets blamed for the current economic disaster. Even if the economy is recovering in the latter half of next year – and that is a big “if” – it will not feel much like an economic recovery for most Americans. The labour market will still be very weak, with unemployment projected to pass 10% and rising in the second half of next year.
via Assigning Blame for the Economic Crisis | CommonDreams.org.
Filed Under: Economy - Labor
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The oligarchs openly talking about a coup d'état in America?
Multi-millionaire lobbyist Grover Norquist is calling for the impeachment of President Obama. In an interview with the right-wing National Journal - Norquist warned that if President Obama wins re-election and decides to let the Bush tax cuts for the top 2% expire at the end of the year - then Republicans will "have enough votes in the Senate in 2014 to impeach [him]."What does that mean? It means that the super rich in America - and their political operatives like Norquist in Washington, DC - have now compared a tiny tax increase on the wealthy to high crimes and treason - the only Constitutional basis Congress can use to impeach a President. It sounds like the oligarchs are now openly talking about a coup d'état in America.-Thom(Do you think will try it? Tell us here.) -
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