Bill Black: Wall Street's Plan to Push Obama to Betray Those Who Elected Him
Benzinga / By William K. Black
Wall Street's Plan to Push Obama to Betray Those Who Elected Him
Through its lobbying group Third Way and media mouthpieces, Wall Street is determined to destroy the social safety net.
November 8, 2012 |
The safety net is the glory of America and the unending nightmare of Wall Street. That why Wall Streets leading false flag group, the Third Way (which calls itself a "leading moderate think tank" , has responded to the warnings that Robert Kuttner, AFL-CIO President Trumka, and I have made that if President Obama is re-elected our immediate task will be to prevent the Great Betrayal the adoption of self-destructive austerity programs and the opening wedge of the effort to unravel the safety net (including Social Security, Medicare, and Medicaid).
Here's what you need to know about this plan to rob Americans of their future.
1. Both Democrats and Republican Oppose Cuts to the Safety Nets
Huge majorities of Americans oppose cuts in the safety nets: A majority of Republicans oppose such cuts and Democrats overwhelmingly oppose the cuts. The American people love the safety net because they know it is essential to a humane America. They know that it has transformed the nation. Before Social Security, older Americans were frequently reduced to poverty and dangerously inadequate health care that made the remainder of their lives dangerous and miserable.
The safety net does not cover only the elderly and the sick. My father, for example, died when I (the eldest of three children) was 19 and a sophomore at the University of Michigan. Even though in-state tuition was inexpensive in those days, I would have had to drop out of school. Survivors benefits allowed me to obtain a superb education and pay back the nation with service and decades of greater taxes because education increased y income. Food stamps and unemployment insurance frequently provide the temporary support that prevent tragedy and allow Americans to obtain useful education and jobs. The safety net has made America a nation we are proud of and a nation that makes it possible for Americans to recover from hard times and tragedy and to lead lives that are vastly more productive and enjoyable.
2. Only a Democrat Can Make It Politcally Safe for GOP Pols to Unravel the Net
One of the most important reasons that more Americans support the Democratic Party than the Republican Party is that the Democratic Party is viewed as the Party that created and guards the safety net. The elements of the safety net are the crown jewels of Democratic Party policy successes. .......................(more)
The complete piece is at: http://www.alternet.org/news-amp-politics/wall-streets-plan-push-obama-betray-those-who-elected-him
Chiquitita
(752 posts)I can't believe this kind of stuff is back. It feeds into people's paranoia.
marmar
(77,084 posts)It insinuates that Wall Street can get the Pres. to betray us. The comments on the article are from people who to me seem as out of touch on our side as the wing nuts are on theirs. Sorry, just my view.
Larkspur
(12,804 posts)sure sounded to me like he wanted to cut Soc. Sec. benefits by raising the retirement age. Ditto for Medicare.
If Obama tries to push his Grand Bargain austerity measures on us, many who voted for him will revolt, but if he gives up on that nonsense and rallies the American people to push back against Wall Street austerity marketeers and obstructionist Rethugs, then he will have a lot of support.
Chiquitita
(752 posts)But this article contains a big repetition of the obvious (ie what WS wants) witb some self importance on the part of the author. What's new here?
cprise
(8,445 posts)...and got Obama to completely shut out advocates of the public option, talking only with health insurance companies (which you can read as "Wall St." and cutting a deal with them. He went against his word as a candidate to serve the interest of finance.
Hotler
(11,428 posts)let's see, When president Obama was running for the office of president he had some tough talk against the PTB, then after he got the nomination it was "Now is not the time to point fingers." which was code for "Nothing to see here, just move along". Than a year or so ago he was on Sixty Minutes and said something like, "what Wall St. did might have been immoral but, they didn't break the law." (which I call bullshit). he didn't even act tough towards the bankers. And don't forget he put up little to no fight for single payer health care. I voted for the man in both elections and I think he is a good person and gives one hell of a speech but, he is bought and paid for just like the ones in the past and the ones to come in the future until we can get a solid third party in the mix. I'm looking for a president that is not afraid to slam doors, throw chairs and tell repugs to go fuck themselves and throw crooks no matter how much money they have in jail.
peacebird
(14,195 posts)Keeping up pressure in support of social safety net and against cuts to it, keeping up pressure in support of increasing taxes on the wealthy, and not on the middle class.
Letters to our reps in congress, to the White House, to the editor....
jsr
(7,712 posts)appacom
(296 posts)Trust, remember? That's why Obama was re elected.
cprise
(8,445 posts)He's a kinder, gentler corporate shill.
Sam1
(498 posts)kitt6
(516 posts)from republicans on the safety nets. First of all there are not many companies left. And if there are; 401K's are bulls*it compared to the old retirement systems. Americans simply will not go for it! President Obama needs to just raise taxes on the rich and be done with it!
underthematrix
(5,811 posts)makes money when the 99% buy things