Tuesday, August 09, 2011

Jamie Galbraith on the lessons of the Bad Deal

Jamie Galbraith writes for Deutsche Welle about The Bad Deal 04.08.2011. And he is bluntly unsympathetic to President Obama:

The debt deal will make things clear. The President is not a progressive – he is not what Americans still call a "liberal." He is a willful [willing?] player in an epic drama of faux-politics, an operative for the money power, whose job is to neutralize the left with fear and distraction and then to pivot rightward and deliver a conservative result.

What Barack Obama got from the debt deal was exactly what his sponsors have wanted: a long-term lock-in of domestic spending cuts, and a path toward severe cuts in the core New Deal and Great Society insurance programs – Social Security, Medicare and Medicaid. And, of course, no tax increases at all. [my emphasis]
It's nice to see Galbraith using the Jacksonian phrase, the Money Power.

He expects the next move for the bipartisan austerity caucus to look something like this:

The deficit lobbies are shifting: their next step will be to raise doubts about the plan's credibility and about Congress's will to enforce it. They will then make the self-protective assertion that still stronger steps are needed. European observers of Greek/Irish/ Portuguese/ British/Spanish and Italian politics – not to mention Latvia or Hungary – will find all of this familiar.
Tags: , ,

| +Save/Share | |

Links to this post:

Create a Link




FEATURED QUOTE

"It is the logic of our times
No subject for immortal verse
That we who lived by honest dreams
Defend the bad against the worse."


-- Cecil Day-Lewis from Where Are The War Poets?


ABOUT US

  • What is the Blue Voice?
  • Bruce Miller
  • Fdtate
  • Marcia Ellen (on hiatus)
  • Marigolds2
  • Neil
  • Tankwoman
  • Wonky Muse

  • RECENT POSTS

  • Social Security and "chained CPI"
  • Communism ain't what it used to be - but Chinese g...
  • Jerry Brown on the budget impasses in Washington a...
  • Jerry Brown on the budget impasses in Washington a...
  • S&P and the US credit downgrade
  • The Obama Administration, Valerie Jarrett and the ...
  • An inside-outside approach for progressives toward...
  • Why the Clinton analogy for the Obama Presidency i...
  • David Bromwich needs to remember how to love his m...
  • From the reliably staid PBS Newshour: "After Long ...

  • ARCHIVES




    RECENT COMMENTS

    [Tip: Point cursor to any comment to see title of post being discussed.]
    SEARCH THIS SITE
    Google
    www TBV

    BLUE'S NEWS





    ACT BLUE











    BLUE LINKS

    Environmental Links
    Gay/Lesbian Links
    News & Media Links
    Organization Links
    Political Links
    Religious Links
    Watchdog Links

    BLUE ROLL


    MISCELLANEOUS

    Atom/XML Feed
    Blogarama - Blog Directory
    Blogwise - blog directory

    Blogstreet
    Haloscan


    Blogger

    hits since 06-13-2005

    site design: wonky muse
    image: fpsoftlab.com