Courtesy of the Black Agenda Report:
As election year 2008 began, Obama took the most pro-banker, laissez faire capitalist position on home foreclosures of the three major Democratic presidential candidates. John Edwards backed a mandatory moratorium on foreclosures and a freeze on interest rates, while Hillary Clinton supported a “voluntary” halt and $30 billion in federal aid to homeowners. But Obama opposed any moratorium, mandatory or voluntary, and balked at cash for homeowners and stricken communities
You don’t always get what you vote for, but the surprises aren’t usually on the upside. Obama was given the opportunity to be the new FDR. The financial crisis was a huge opportunity to break the power of the financial industry and the rich for a generation, and in so doing make it possible to have an economy which worked for everyone, to fix America’s energy problems, and to have universal healthcare.
Instead what happened is that Obama bailed out the rich and the financial industry, who were bankrupt, then refused to prosecute them for systemic fraud. He did so in a way which left, by and large, the exact same class of people in charge of the financial industry, made the remaining banks bigger and more powerful, restored the wealth of the rich to pre-crisis levels and restored their profits. Meanwhile employment has still not recovered (ignore the unemployment rate, it is a lie), wages are flat or declining, real inflation is through the roof, the price of oil is skyrocketing and the current discussion in DC is how much the poor and middle class should get screwed out of their Social Security, Medicare and Medicaid, in order to keep the rich filthy rich. Oh, and how much tax cuts the rich should get.
America is in terminal decline. There may be a lot of ruin in a nation, as Adam Smith wrote, but that amount is not infinite. The next chance you get to turn this around you will be starting from a much worse position. A lot more pain will be unavoidable.
Obama is not turning things around, what he is doing is negotiating with Republicans how fast the decline will be, and how much and how fast it is necessary to fuck ordinary Americans in order to keep the rich rich. If Obama wins another term, he will continue to negotiate the decline, then, odds are very high, a Republican will get in, and slam his foot on the accelerator of collapse.
This is why Obama must lose in 2012. I would prefer that he lose to a Democrat in a primary, then that Democrat wins, but he must lose regardless. If he loses to a Republican, then 2016 you get a chance to put someone in charge who might do the right things (or even just some of them.)
No, those odds aren’t good. They suck. Every part of them sucks. And even if you get a Dem in 2016, you’ll probably choose the right most candidate, just like you did last time, and he’ll go back to negotiating with Republicans over what parts of the corpse of America’s middle class they should dine on next. “No, no, eat one kidney first, they only need one to survive, so that’s not too cruel.”
But it is still your best chance. Otherwise you’re looking at full, Russian-style collapse. What comes out the other end, I don’t know, but you really won’t enjoy getting there.
And yes, if a Republican gets in in 2012, that’ll be awful. Just awful. But it’s not like a Republican is never going to be president ever again. That’s not on the agenda, that’s not possible. It will happen, and he will substantially cater to the Teabaggers. He will trash your country. That’s baked into the cake now, all you can choose is how soon it happens, and work to replace him with someone who might do the right thing.
Remember, the question is not “if” this will happen, it is when. The sooner you get it over with, the sooner you have another chance to get it right, and the less decline the US will have suffered. If President Teabag gets in after 4 years of Obama, the US will be in better shape at the start of his wrecking than it will be if he gets in after 8 years of Obama. Obama is a disaster, who is making things worse, not better. He’s just making it worse more slowly than a Republican.