Rupert Cornwell: "the presidency of Barack Obama shriveled before one's eyes"

[Better Believe It]

Rupert Cornwell: A bitter, losing fight against the power of money
Out of America: Tax cuts for billionaires, and bankers with more clout than ever – nothing has changed
Decembeer 5, 2010

The US is a land of extremes: climatic, economic and ideological. But amid the turbulent craziness of American politics, there is one constant: money rules. And never more so than in the closing weeks of this sour and eminently forgettable year of 2010 - when the recession never really went away, the Tea Party marched into Washington, and the presidency of Barack Obama shriveled before one's eyes.

Right now, the country has a budget deficit equal to almost 10 per cent of GDP. The official unemployment rate, announced on Friday, rose to 9.8 per cent. Add in the people who would like to work but have given up even looking for a job, and you have an "under-employment" rate of about 17 per cent. And yet politicians can't even get round to extending unemployment benefits for the two million people whose meager help from the state ran out last week, at the start of the holiday season.

Instead, forget the deficit. Forget the poor souls who had to try to make ends meet on a dole of $320 (£200) per week for a family of four, before that support expired. Congress - or rather the resurgent Republican part of it - is adamant that nothing be done until tax cuts, which also are about to expire, are extended for the very richest in America.

So here we are, three weeks before Christmas, with the atmosphere in Washington more poisonous than ever, and Republicans confident they can roll Obama on everything. Recent developments, alas, suggest that confidence is not misplaced. No matter that tax cuts for the rich would add $700bn to the deficit over the next 10 years. Republicans have served notice they will block all business in the Senate until the largesse for millionaires is extended. Only then might they look more favorably on extending unemployment benefits as well. Right now it looks as if Obama will fold, in a spirit of compromise his opponents show little sign of reciprocating.

Read the full article at:

http://www.independent.co.uk/opinion/commentators/rupert-cornwell/rupert-cornwell-a-bitter-losing-fight-against-the-power-of-money-2151550.html#

[villager]

1. Unrecc'd by the "things are just great!" crowd...

n/t

[Better Believe It]

4. Move along now, everything is fine, nothing to see here .....

[SidDithers]

9. Unrecc'd because the first reply in the thread was a complaint about unrec..nt

Sid

[villager]

13. Aw, you're making excuses -- you complain about everything that doesn't fit your constricted...

...world view anyway!

And are doubtless quick on the draw with the "unrec" button...

;-)

[SidDithers]

30. Not as quick as you were to whine about unrec, tho...

and look, the thread's at +85 now.

Don't you feel silly about complaining now?

Sid

[HERVEPA]

48. BTW, if you check the ask the admins forum, you'll find Skinner

is pretty disgusted with people complaining about the un-recs, as it's pretty much just a waste of electrons.

[Ruby the Liberal]

61. Complaining about the system and noting the occurrence are two different things.

[HERVEPA]

63. Actually, I believe he's disgusted with the noting of the occurrences

[Ruby the Liberal]

64. Then he should make it a rule.

When a NEUTRAL/INFORMATIVE news article is unrec'd before the pixels have set, its worth noting. Not this piece (which is opinion), but it happens all too often.

[HERVEPA]

68. Point taken

[Iggo]

21. +1

[Ruby the Liberal]

22. Happy to add rec #64

[NoPasaran]

55. The Hate Obama Brigade orgasms in delight

And recommends more tired old boilerplate

[somone]

2. More tax cuts for billionaires, and bankers have more clout than ever

Very accurate summary

[MrTriumph]

3. And O wants us to believe S Korea trade will net the US jobs.

x

[yurbud]

35. maybe it will when our wages drop to South Korean levels

[Jackpine Radical]

5. Ebenezer Grinch has won.

Tiny Tim's goose is cooked, but not for him.

[peace frog]

25. Ebenezer Scrooge lives: "Bah! Humbug!"

"If they will die, then they had better do it, and decrease the suprplus population."

[Grinchie]

41. I resent the references to the Grinch

I have a thousand fold more empathy for my fellow man and the Earth itself than any of these devils living in the Political System we call the US GOvernment.

The Grinch eventually displayed his heart and soul, but this administration has sold their soul to the devil, and he's not going to give it back.

Dubya turned me into a Grinch, and I thought for a moment that Obama's election would enable me to regain confidence in my Government. Boy was I wrong.

No Christmas for Obama unless it's at his DLC hideout rocking with Goldman Sachs, Michael Taylor, and Remeniscing with Hillary about fomenting revolution in South America.

[truedelphi]

58. Well said, Grinchie.

And a big "Happy Holidays" or "Bah Humbug!" (whichever would rock your world) to you.

[Grinchie]

65. It's most certainly a Happy Holidays, regardless of the increasing tensions in the world

Once an Analyst, always an analyst, otherwise I would have truly dropped off the grid entirely years ago.

What's frightening is that it is very clear that a lot of people are not fully awake, don't care, or are victims of the rah rah club to the point of self immolation.

There are only a handful of people on this board that actually stand for something without vasilating every time they hear something they don't like.

Happiest of Holidays to you and all of your relations. Keep up the great work, which is speaking out against all the injustices we are being saddled with. I promise to do the same in between getting crops in the ground, which absoolutely takes priority over this place.

[emilyg]

6. k/r

[ProSense]

7. Oh brother. He's the most powerful man on

earth, weak and responsible for everything that's wrong with this country, including the Republican asshole's failings.

<...>

It is the very rich who have done best out of those cuts pushed through by George Bush in 2001. Indeed, real take-home pay has stagnated for most people over that period, while the poor have, if anything, got poorer. But to preserve a veneer of fiscal responsibility, a "sunset" date of 31 December 2010 was included, meaning that Bush would be safely out of office when the moment of decision arrived on whether to renew them. That time bomb is now exploding.

Obama and the Democrats want to extend the cuts for households earning less than $250,000 a year, covering 98 per cent of the population. Republicans, however, are adamant; the cuts (which lowered the top rate of income tax from 39 per cent to 35 per cent) must be extended for the rich and super-rich too. Do otherwise, they challenge Democrats, and you will be forever branded the party that raises taxes. In US politics, there is no deadlier accusation.

The mood on Capitol Hill has gone from bad to appalling, despite the polite words in talks at the White House between Obama and congressional leaders of both parties designed to plot a path forward after the massive Republican gains in November's mid-term elections. The row over the Bush tax cuts now colours everything. But the partisanship and the childish name-calling, where every liberal is a Communist and every conservative a robber baron, obscure the deeper truth. Money rules.

<...>

A deal will be struck. One has to be, otherwise taxes will rise for everyone, even as the economy continues to struggle. And – who knows? – maybe the recommendations last week of Obama's bipartisan deficit reduction commission, slashing $4trn from the deficit over the next decade, will one day provide a basis for an even more important deal on Capitol Hill. But it won't alter the fundamental law of American politics: money rules.

What's the point of the article: Republicans can roll Obama, but a deal has to be struck or people will suffer?

Cormwell needs to make up his mind wether the deal is prudent or not.

[Winterblues]

20. Yes people might suffer as they did under the Clinton Administration

D'Oh.....So many more are now suffering because of Republican fiscal policies but you want to continue them using their sound bites...

[LawnKorn]

8. The childish little brat Republicans won't allow anything to get done until they get their way

The are prepared to go to the mat on every bill brought before the Senate until the filthy rich get to keep their undeserved tax breaks.

Could it be any more obvious who owns the Republican party?

[Better Believe It]

11. If you don't fight the Republicans effectively that's what happens.

Playing peace, love and bi-partisanship while they play partisan hardball won't do it.

[me b zola]

10. K&R

[donco6]

12. K&R n/t

[Smashcut]

14. Our country is so utterly, ludicrously dysfunctional.

The article encapsulates what a joke America must look like to the rest of the Western world at present.

[Skittles]

15. Obama is making the Democratic party look like FOOLS

it is fucking EMBARRASSING

[Better Believe It]

16. Just a little.

[creon]

18. No

The Democratic Party is making a fool of itself.

Obama has to work with those weaklings.
And you blame him
ha

[Confusious]

62. How about that deficit commision?

The ones who say cut social security, give the rich a tax break.

Didn't obama put them there?

the party is the weak one....... riiiiigggghhhhttt.

[creon]

66. yes

Yes it is

It is as weak as Obama

[peace frog]

26. Monumentally shameful

and I'm shamefaced at the thought of it. In other words, most of the time.

[Grinchie]

43. At this point, it looks like a part of a scheme to back out of our obligations

They know tha Ponzi scheme is coming to it terminus, and instead of actually taking action against the perpetrators, they continue to embrace them with open arm, at the same time poking at the ever growing Hornets Nest of public dissatisfaction in an attempt to start something terrible that will necessitate some sort of heavy handed response, which will most likely lead into some sort of conflagration.

Why do I say this? It's because they have no intent on revealing the scam they have been playing on us and the rest of the world. Like the fraudulent Mortgage Foreclosure schemes, they don't hold the note. They would much rather conveniently "Lose" all the paperwork that they have maintained somewhere that actually codifies all the funny money they have printed over the years. The US Government is up against the wall, and the only way out is for the Visigoths to come in, ransack the joint, and conveniently destroy all the evidence to the delight of the criminals that have taken over the Government.

I am happy that we haven't seen violence such as we saw in Greece and France and countless other cities across the world when the people actually rise up and take a stand, and I attribute it to many Americans realizing what a crappy boat ride we are on and are smart enough not to throw fuel on the fire and give the Government any excuse to exercise the incredibly lopsided advantage they have on controlling unruly mobs, and we choose the path of Gandhi, which is peaceful resistance.

They can only crack so many heads before the victims have to be dealt with. They cannot force us to spend money on crap that we don't need. The only thing they can do is close down our Schools and Libraries, which they have been extremely effective at over the last decade.

Books are like seeds. They can lie dormant for centuries, yet they can sprout in the most unfavorable soil.

There is a reason Government like to burn books.

[BlueIris]

60. We are way past embarrassed.

Waaaaay past it. Going to be hard to justify this presidency. Ever.

[creon]

17. There is blood in the water

And the sharks are circling.

[disillusioned73]

19. When will he learn, or as some have speculated.. Kabuki

Theatre at its best...

"Right now it looks as if Obama will fold, in a spirit of compromise his opponents show little sign of reciprocating."

[4dsc]

23. Ed Schultz is correct when he said

"The Republicans are walking the President like a dog. And it pains me to say that."

Why doesn't the White House get it yet?

[lyonn]

40. It appears that way

Obama needs to tell the repubs, like McConnell, that he "may not win the next election but he damn sure intends to defend the people of this country as best he can while in office". In other words, screw 'em, let the Bush tax breaks end!!

[BlueJac]

24. Unbelievable.........

I thought Obama had the mandate, what a tiny, tiny man he has become.


Wiki should release all files now so we can have a VERY Merry Christmas.


9 Fucking Trillion in loans at under 1% interest to banks, even foreign banks, and McDonald's. So we can all eat Happy Meals!!

[ctwayne]

27. The Tax Cuts Benefit Obama Personally

As an upper income person, Obama will enjoy a substantial benefit from the tax cuts for the rich. And after he leaves office, (probably in two years) he stands to make a boatload of money. Then the tax cuts will benefit him even more.

[DeSwiss]

28. The Incredible Shrinking Presidency, indeed. - K&R n/t

[WillyT]

29. Money Rules.

:kick: & R !!!

[Scurrilous]

31. K & R

It's like he just got out of the pool!

[ElsewheresDaughter]

32. K & Rec!

[ElsewheresDaughter]

33. Kiss SS GOODBYE!!!

[MissDeeds]

34. K&R!

[democrank]

36. A historic opportunity...

squandered like it meant nothing. I`m sick at heart.

[Poboy]

37. recommend

[xchrom]

38. Recommend

[Marr]

39. Here's what will happen:

Obama will agree to a two year extension to the Bush tax cuts with the stated excuse that it's in exchange for their support on unemployment benefits. After the tax cuts are extended, the GOP will refuse to cooperate on unemployment extensions because 'Obama's reckless tax policies have so increased our deficit' that we cannot afford it. They will demand some other concession (Social Security?) in exchange for their support, which he will excitedly do, explaining that he has no choice.

Then in two years, they'll spank his ass at the polls for causing all our economic problems, because he only made the tax cuts for billionaires temporary rather than permanent, leaving those billionaires feeling "uncomfortable" about investing. Obama will retire to a life of well-paid speaking engagements and occasional lunches with some Bush family fucktard.

The End.

[lyonn]

42. How I hate to admit that your analogy is no doubt right

It seemed so apparent this weekend, news, etc., that he is caving. Excuses that we don't have 60 votes in the Senate doesn't sell anymore. Obama needs to quit apologizing. Our country is caving, can't Biden talk some sense into him? Or a bunch of other stellar Dems in congress? We truly do have smart Dems in congress that apparently are being ignored, for what, a vote??!!!

[ctwayne]

44. Excellent Points

What will happen is Obama will give in to Republicans demands to slash Social Security. Then the Republicans will run in 2012 as defenders of Social Security and win the votes of the senior citizens.

[tomg]

59. Yup. Pretty much sums it up. nt

[avaistheone1]

45. The Brits are catching on.

Obama is weak because he choose to be weak.

[Mimosa]

46. "No matter that tax cuts for the rich would add $700bn to the deficit over the next 10 years. "

Dems have to FIGHT. Go to the people. Tell them LOUD what's going on!

[katty]

47. K&R-wasn't the American Revolution fought for Independence

FROM Kings, Lords, those with ALL the $ power? time to refresh!

[HERVEPA]

49. Appeasement worked so well for Neville Chamberlain

[jannyk]

50. k&r!

[BrklynLiberal]

51. Whew..that stung!!

[bvar22]

52. A reminder:

The "Democrats" CONTROL this Congress.

*They OWN the White House

*They OWN The Senate

*They OWN the House

*They OWN a Popular Mandate for "Change".

Whatever comes OUT of THIS session is 100% "Democratic Party".


"If we don't fight hard enough for the things we stand for,
at some point we have to recognize that we don't really stand for them."
--- Paul Wellstone



"By their WORKS, you will know them."

[ChairmanAgnostic]

54. and yet elements within all 3 seem owned.

or at least for rent.

The only reason that DINOs were so strong was because the White House refused to push them. Ever.

[ooglymoogly]

53. KR The fix was in the moment 0 was elected.

And I predicted the same when he did not close the boondoggle for the rich when he could have; ridding on a wave of almost unlimited political capital. Even when the pugs were signaling the tax cut was a bridge too far he started mouthing the words of capitulation. Open to compromise egging pugs on to ask for whatever they wanted and the louder they asked the more he would capitulated as long as he could keep the mask of a democrat.

I will work my ass off for a primary challenger to this phony baloney flim flam artist. When the folks of this country finally realize they have been so brutally mugged and robbed they just might get behind the right candidate.

[Scurrilous]

56. The bad man hornswoggled us!

Primary his stupid phony baloney flim flamming butt!!1!

[WiffenPoof]

57. Squandered Opportunities

I think the thing that is the most disturbing to me is the squandered opportunity that our party had. It wasn't that long ago (2008), many were saying that the Republican Party was on life-support...they were marginalized and it would take years for them to recover. It didn't take years. They were revived and appear to be stronger than ever. How could this happen under a Democratic Administration.

Look...
There is little doubt that our President has accomplished a great deal. Unfortunately, it has not been communicated very well to the average voter. Having agreed that there have been many accomplishments, it appears to me that there have been just as many failures when it comes to adhering to Democratic principles.

There is a part of me that wants so badly to support President Obama...I want to believe that he has the best interest of our country at heart. I'm still hopeful that he will recognize that he must fight the Republicans and stop giving in to them. There are just some things that we cannot afford (as a party) to give in on.

-PLA

[Orsino]

67. Well, certainly in the eyes of those who thought he was still in the Senate.

What the fuck sort of compromise did Cornwell think could possibly result? Would the president agree to be labeled forever as the mastermind of the largest tax hike in history? Or would the Republicans suddenly decide to give up what they didn't have to concede?

Whatever Obama's best intentions or his corruption, he was irrelevant. All we've left him is the dubious privilege of announcing the deal into which he had very little input.

[blindpig]

69. A cold shower comes to mind....

but really, that ain't it at all. Ain't nothing flaccid about what the working class is getting.