Obama "is always ready to serve the interests of the rich and powerful, with no line in the sand"

[Better Believe It]

America’s Political Class Struggle
By Jeffrey D. Sachs
Jeffrey D. Sachs is Professor of Economics and Director of the Earth Institute at Columbia University. He is also Special Adviser to United Nations Secretary-General on the Millennium Development Goals.

December 27, 2010

This tax-cutting frenzy comes, incredibly, after three decades of elite fiscal rule in the US that has favored the rich and powerful. Since Ronald Reagan became President in 1981, America’s budget system has been geared to supporting the accumulation of vast wealth at the top of the income distribution. Amazingly, the richest 1% of American households now has a higher net worth than the bottom 90%. The annual income of the richest 12,000 households is greater than that of the poorest 24 million households.

The Republican Party’s real game is to try to lock that income and wealth advantage into place. They fear, rightly, that sooner or later everyone else will begin demanding that the budget deficit be closed in part by raising taxes on the rich. After all, the rich are living better than ever, while the rest of American society is suffering. It makes sense to tax them more.

For the moment, most Americans seem to be going along with Republican arguments that it is better to close the budget deficit through spending cuts rather than tax increases. Yet when the actual budget proposals are made, there will be a growing backlash. With their backs against the wall, I predict, poor and working-class Americans will begin to agitate for social justice.

The problem for the rich is that, other than military spending, there is no place to cut the budget other than in areas of core support for the poor and working class. Is America really going to cut health benefits and retirement income? Will it really balance the budget by slashing education spending at a time when US students already are being out-performed by their Asian counterparts? Will America really let its public infrastructure continue to deteriorate? The rich will try to push such an agenda, but ultimately they will fail.

Obama swept to power on the promise of change. So far there has been none. His administration is filled with Wall Street bankers. His top officials leave to join the banks, as his budget director Peter Orszag recently did. He is always ready to serve the interests of the rich and powerful, with no line in the sand, no limit to “compromise.”




Jeffrey D. Sachs

Please read the full article at:

http://www.project-syndicate.org/commentary/sachs173/English

[Name removed]

1. Deleted message

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[mix]

2. Truth hurts, k&r nt

[bjobotts]

42. Truth is very selective it seems. Repubs spent millions to block Affordable Care Act

[bjobotts]

43. There would be no Consumer protection Agency and absolutely no wall street reform

[bjobotts]

44. No Lily Ledbetter fair pay, no stem cell research, no increase in min wage

[bjobotts]

45. And need I remind you it was Bush who gave the wealthy tax breaks to begin with

[bjobotts]

47. There would be no bailout of the auto industry and millions more out of work

[bjobotts]

50. No change in college loan profiteering, no stimulus package, No START

[bjobotts]

51. Recent CEO meeting Obama called at Blair house and not ONE Banker was called to be there

[bjobotts]

53. Obama walked into the biggest mess brought about by wealthy's greed buting up America

[bjobotts]

54. They own the repub party and threaten to shut down the economy.

[bjobotts]

55. And look at all he got accomplished in spite of this plutocracy.

[bjobotts]

56. This article is complete propaganda for small minded viewers who 'refudiate' truth

[Bluebear]

69. good lord

[mmonk]

71. Small minded is my name.

Or does it have something to do with my education and observation?

[Better Believe It]

48. How has Wall Street been "reformed"?

This should help to explain what actually happened to Wall Street "reform".

How and why President Obama and Congress caved in to Wall Street protests and demands.

http://www.democraticunderground.com/discuss/duboard.php?az=view_all&address=439x88206

[whistler162]

58. True.. to bad the article is lacking in any truth!

[truedelphi]

3. So many of Obama's "Victories" have been the result of his appointees being

Where they are.

Monsanto has furthered its cause with Valseck and Mike Taylor headoing the Ag Dept and the FDA.

Geithner and the old Summers/Rubin crowd continue to assist the Top Financial Players while depleting the economic health of those on Wall Street.

And no way to stop this, until we get some other people in the Top Executive positon.

It's time to rollup our sleeves and get going so we'll see:

"Feingold/Grayson in 2012!"

[grahamhgreen]

16. +1

[truedelphi]

29. Though I meant to say that the

Obama policies are hurting Main Street, rather than what I said regarding depleting Wall Street.

But you and I have stood so long on this battlefield, you probably know what I meant.

[Enthusiast]

19. Plus one.........nt

[Dokkie]

36. 1000+

Oh how I wish those 2 will challenge, win primary and win general election in 2012 but I dont expect it. No way you get enough people to rock the boat

[DeSwiss]

40. Exactly. K&R n/t

[SkyDaddy7]

52. Keep Dreaming!

[grahamhgreen]

67. Just like MLK!

[Taverner]

4. IBTL

Agreed...

[pa28]

5. K&R

[gratuitous]

6. Well, that's just not true

After all, the wealthy almost had to . . . uh, you know, ask for additional millions for two years. And sure, they got a big frickin' break on the estate tax without even doing that much. But in return, they have to . . . well, I'm sure they'll have to do something pretty soon to justify the massive giveaway that was handed to them.

[Better Believe It]

7. "I'm sure they'll have to do something pretty soon to justify the massive giveaway handed to them"

You're right.

They will be expected to make big election campaign contributions in 2012.

[Fumesucker]

20. Oh, they'll make massive campaign contributions all right..

They'll contribute to the Democrats and even more, more, more to the Republicans.

[Name removed]

8. Deleted message

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[sulphurdunn]

25. Little Dutch Boy?

Obama is President of the United States and Commander and Chief of its armed forces. He won't even enforce discipline within his own party let alone challenge the opposition because he is the opposition, if such a thing actually exists in a one party state.

[Name removed]

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[hootinholler]

10. Good article

The ending paragraph is interesting

If this continues, a third party will emerge, committed to cleaning up American politics and restoring a measure of decency and fairness. This, too, will take time. The political system is deeply skewed against challenges to the two incumbent parties. Yet the time for change will come. The Republicans believe that they have the upper hand and can pervert the system further in favor of the rich. I believe that they will be proved wrong.

It's getting so obvious now. If I thought I could pull it off I would try to start one. Until then, here I am.

-Hoot

[tridim]

11. Michael Vick

[WinkyDink]

13. Algebra.

[NoPasaran]

22. Laura Branigan

[Ken Burch]

46. MIchael Vick studying Algebra WITH Laura Branigan.

n/t.

[mmonk]

70. .

:rofl:

[unkachuck]

12. "Obama swept to power on the promise of change."

"So far there has been none."

.....what?....we've gotten change....

....the corporations and the rich have gotten trillions of dollars, and we've gotten change....

[Foo Fighter]

14. LOL!

Boy, isn't that the truth.

[Dokkie]

37. Actually, thats not funny

I cried when during his victory speech and I almost never cry :(

[Foo Fighter]

63. Point taken.

What's happening to this country isn't funny.

You're definitely not alone with regard to crying during his victory speech. The TV coverage on election night showed many people dropping to their knees and crying tears of joy when he was declared the winner.

I often wonder how those same people feel now.

And while I was happy for those that were truly elated that he was elected, I just couldn't share in their joy because at the same time, I felt bad for them. I thought they had been duped. I didn't vote for Obama. I thought he was a sellout from the day one and that he would only serve to defend the interests of the rich and the corporations and not those of the people.

And I truly and sincerely wish he would have proven me wrong.

[Foo Fighter]

64. Delete. Dupe.

[Bluebear]

31. well done!

[bjobotts]

57. Every president is swept to power on the promise of change. Change is everywhere but not enough yet

to combat the huge mess left by Bushies

[nashville_brook]

15. sadly too true.

[somone]

17. All Fired Up And Ready to Serve The Powers That Be

[nevergiveup]

18. I love broccoli

[Fumesucker]

21. GHW Bush famously hated broccoli.. n/t

[BlueJac]

23. K&R

[placton]

24. so true so very true

I was on to him from right after he was inaugurated - there are none so blind as those who will not see

[LWolf]

26. He certainly is. nt

[sirthomas66]

27. Never seen anything like Obama. Can't believe I voted for him.

[MadMaddie]

49. Right! The previous office holder was the best president ever!

I guess that the previous president and his two needless wars and the catering to big business during that time. Oh yea, let's not forget ignoring the pre 9/11 security briefs.

Oh that's right the previous president actually had a surplus that he squandered on tax cuts for the rich. ooooh that was really great for the country.....turned out really well didn't it?

Please come out and simply say you hate Obama and everyone knows where you stand.

If you believe that 2 years is enough to fix 30 years of Republican policies.....well..

[Beacool]

59. Self delete. Wrong post.

[sirthomas66]

66. When I gained adulthood, I learned to reason. I learned to study. I

made a mistake when I voted for Obama. You are simply clinging to hollow mellifluously-delivered words while turning a blind eye to reality.

[MadMaddie]

68. Ha..ha..ha..

You don't know me.

Here's what I do know, I study, I research and I analyze. Unlike you and others I don't set unrealiztic expectations and expect miracles.

You will not acknowledge any accomplishments under this administration and that's obvious. You cry over spilled milk because your pet projects weren't completed as you wanted them to be completed.

Reality? Really...let's get something clear, I am a Black American and I know the fun games people like you play. You didn't have shit to say about Junior and all of the laws he broke while in office. You didn't say shit when New Orleans drowned because the victims were poor black and white folks.

Now that there is a black president everything wrong with this country is his fault. You conveniently ignore the Republican Reaganomics and the relationship with today's envirnment. You ignore the mass exportation of jobs by companies that are making record profits. You ignore that Republicans this year stopped legislation that would take incentives away from these companies for exporting jobs. But hey...apparantly you are the only realist on DU!

You can attack me all you want it has not impact on me. With friends supporters like you....who needs enemies.

[blindpig]

28. k&r

[whosinpower]

30. Remember that meeting with the CEO's?

You know the one - the one that occured just a day or so after the tax cut sellout?

I was reading over at the nation an article that explained Obama wants to cut corporate tax rates.

And here is another outrage - give amnesty to the couple of trillion dollars sitting in offshore bank accounts, so that money can come home without being taxed.

Yep - those CEO's gave him lots of ideas. Now Obama understands that in order to cut corporate tax rates - someone elses will have to go UP or else the deficit just gets worse. He will sell it as a way to "for America to be more competitive in the world market."

I will be interested to see what he has to say in the State of the Nation Address.

[salinen]

33. Reminds me of Cheney

meeting in secret with the oil boys laughing at all the oil they were going to get after the Iraqi war.

[whosinpower]

35. They just wanted to control the spigot

And they succeeded. Remember - the price of a barrel of oil was 26 bucks when Bush was first elected.

Now? It is hovering around 90. Oh it fell when the recession hit, like everything else. I was just reading an article that stated that the major oil companies were gearing up for major new investments in oil exploration - 500 billion. The deep sea BP boondoggle has not deterred them.

[me b zola]

32. K&R

[Beacool]

34. It's obscene.

"This may take time. The level of political corruption in America is staggering. Everything now is about money to run electoral campaigns, which have become incredibly expensive. The mid-term elections cost an estimated $4.5 billion, with most of the contributions coming from big corporations and rich contributors. These powerful forces, many of which operate anonymously under US law, are working relentlessly to defend those at the top of the income distribution.

But make no mistake: both parties are implicated. There is already talk that Obama will raise $1 billion or more for his re-election campaign. That sum will not come from the poor."

x(

[Dokkie]

38. This another thing I dont understand

why does it cost so much money to win an election. If you have a good product, all you need is the initial capital for the introduction and the rest should be a cake walk. Just imagine a politician with these policies

End the Wars
Cut defense spending
End the war of drug
Tax and end bailout for wall street
Universal healthcare system with NO mandates
Pro middle and working class

And when they accuse you of playing class warfare, you admit it. Theres more than enough people in both parties that will vote for such a politician (regardless of his/her position on such divisive issues like abortion)

[Beacool]

60. One word: advertising.

He or she who places the most ads has a huge advantage and advertising is very expensive.

:shrug:

[Riley18]

39. The only "change" I got with Obama is the change I have

to scrounge from the sofa cushions to buy a loaf of bread. We have been conned big time. Unless of course the rich really do let some of their wealth trickle down. Don't hold your breath though.

[Ken Burch]

41. Good analysis. It's deeply ironic that Sachs is the one making it, though

This was the guy who championed(and did all he could to impose)"shock therapy" economic and spending policies on the former Stalinist nations of Eastern Europe, forcing those countries into massive cuts in social welfare, huge cuts in wages, and criminal levels of unemployment in the post-1989 period.

I hope, someday, Sachs will apologize for that, since the people of Eastern Europe didn't deserve to be PUNISHED for throwing off their Stalinist oppressors. They should have been allowed Swedish-style social democracy, not subjected to Thatcherism-on-steroids.

[mvd]

61. I would have never appointed Geithner and Summers

I guess the President thought they knew the economy, but they knew it a little too well, unfortunately. That debt commission is also troubling. On the plus side, I hope the new consumer protection agency can help prevent another banking fiasco. Also good was the stimulus and increased spending on infrastructure.

The President just had a big accomplishment with the repeal of DADT, too. It shows that if some Repukes break lockstep, it's easier to make progress. Though we should have compromised less on things anyway.

Obama hasn't been what I'd hoped, but he sure beats the alternative.

[defendandprotect]

62. Remember that '08 was allegedly about "change" ... rather Pres. Obama seemed to change his mind ...!

[PufPuf23]

65. Just about all of POTUS Obama's victories have been losses

for 90% plus of Americans.

I don't want nor will I vote GOP.

POTUS Obama and the other neo-liberals such as Clinton, Duncan, and the economic crew are harming the interests of 80% to 90% of the citizens of the USA and are giving blowjobs to globalists.

[kgnu_fan]

72. It will be difficult year for all of us....sigh....

[upi402]

73. and then some

sooo unnecessary too. They had it in their hands and dropped it.


An epic fail that we'll all pay dearly for -and for decades to come.

[Angry Dragon]

74. KICK