The Obama administration is announcing Thursday a new initiative for joint action by the Democratic Party and the Republican Party against American working people, when the leaders of a new bipartisan commission to slash the federal deficit are introduced at the White House.
This has been rumored for several weeks. Obama’s going the neoliberal/Reagan route on the economy. Surprise, surprise! FDR tried a version of this during his firs term in office, and the results were an even deeper depression. Maybe it’ll work this time.
Obama has selected Democrat Erskine Bowles, a banker and former White House chief of staff in the Clinton administration, and Republican Alan Simpson, a retired senator from Wyoming, to head the new commission. It will have a mandate to propose major cuts in entitlement programs like Medicare, Medicaid and Social Security, as well as regressive taxes such as a national sales tax or value-added tax, targeting working class consumers rather than the wealthy.
Let’s see…another bankster fraud to help run the economy. This only makes sense if Obama’s of the mind that the bankster frauds already own the economy. I don’t think that it speaks well of the President to continue to place faith in the people who were a main cause of the current economic crisis. And yet, that’s exactly what he’s done.
Under plans outlined by White House officials, Obama will select six commission members, four Democrats and two Republicans, while congressional Democratic and Republican leaders will select six members apiece. Given that the Democrats control both houses of Congress by large majorities, a narrow 10-8 Democratic majority on the 18-member commission is already a major concession to the ultra-right, and insures that tax increases on the wealthy will be excluded from consideration.
I’ll let you read the rest of the article. Stew for a few moments, if you feel like it. Obama’s put his faith in politics as usual. I guess that he thinks his bipartisanship is the ‘change’ you can believe in. What I see a a continuation of the failed economics of Reagan, the Bushes, Nixon, Ford, Carter and Clinton. I see nothing to point toward any new direction in the economy, which means that the fat cats will continue to win while the great seething masses will continue to get the shaft.