Obama and Democrats completely tone-deaf on the economy

Writes Dave Lindorff:

The Democratic Party’s embarrassing electoral disaster in Massachusetts, losing a seat held for 46 years by the late Sen. Ted Kennedy, provided a clear warning that the party, and President Obama’s presidency, are headed for an epic trouncing this November, when all members of the House and a third of the Senate face re-election.But all the frantic strategizing within the sclerotic Democratic Party leadership ignores the bigger crisis yet to come for this party that once brought the nation Social Security, unemployment compensation, public jobs programs and Medicare. That crisis is the economy, which is now showing signs of falling off a second cliff instead of beginning to recover.

Thanks to the abject failure of President Obama to boldly order up a massive jobs program and a full-blown economic stimulus program of public investment at the beginning of his term last spring, and to his failure to attack the entrenched banking interests by smashing apart the meg-investment banks that had turned banking into a casino game, the economy has been left to stagnate for a year.

Continue reading The 2010 double whammy and the incredible shrinking Obama


Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s