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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If we don't change our ways soon...
A new report by the Royal Society, chaired by Nobel prize-winning biologist Sir John Sulston warns that world population must be stabilized and consumption in wealthy nations must be reduced or the entire planet is in big trouble. As the report reads: "The number of people living on the planet has never been higher, their levels of consumption are unprecedented and vast changes are taking place in the environment. We can choose to rebalance the use of resources to a more egalitarian pattern of consumption... or we can choose to do nothing and to drift into a downward spiral of economic and environmental ills leading to a more unequal and inhospitable future."This is the same warning that President Jimmy Carter gave Americans back in the 1970's - but it was ignored when Ronald Reagan came to power with a "more positive" message basically telling Americans we can do whatever we want. And then after 9/11 - Bush told us all we should go shopping and consume ever more.And now with corporations calling the shots in Washington - long-term sustainability of the planet takes a back seat to short-term profits. If we don't change our ways soon - and embrace clean, alternative energy and educate women around the plant - then we all could be headed for a rough century.-Thom(Is there any chance we will learn in time? Tell us here.) -
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