by Stephen Lendman
On September 8, Obama’s “American Jobs Act” address to Congress was a thinly veiled campaign speech. More on it below.
On September 19 came Act Two to enlist support for “Living Within Our Means and Investing in Our Future” by cutting $4 trillion over 10 years (for starters with more to come) from Medicare, Medicaid, public pensions, veterans’ benefits, unemployment insurance, the US Postal Service, and other social benefits.
It’s part of a bipartisan plan to destroy America’s middle class, good-paying jobs and benefits, the dream of homeownership for millions, and a nation once fit to live in but no longer.
Economist and regular Progressive Radio New Hour contributor Jack Rasmus commented on the minimum $4 trillion deficit reduction plan, saying:
It’s “not only the consensus deficit target but also the amount by which taxes have been cut for the rich and corporations.”
Moreover, it equals the amount banks and other large corporations “have been hoarding in cash since the bailouts,” instead of using it for economic growth and job creation.
In addition, out-of-control war spending and bailouts applied productively would make austerity cuts unnecessary.
“Who’s going to pay the next $4 trillion (and more trillions after that)….is the central issue,” according to ruling elites?
“It’s not jobs (not created), foreclosures, broke states and cities, students indentured for life, or seniors struggling to stay alive.”
At a time stimulus is needed to revive productive growth, infighting focuses on what more to cut, hitting working households, the poor, retirees and disabled hardest.
Notably, 25 million Americans wanting jobs have none. Nothing is being done to create them.
Instead, proposals focus on tax cuts for the rich, corporate handouts, and austerity to pay for them.
Welcome to America.
Obama’s America.
Land of permanent war, disproportionate wealth extremes, and spiraling debt.
With growing millions unemployed and impoverished.
With 11 million homes foreclosed and another 20 million under water.
Where 44 million seniors will soon pay double for Medicare and get no cost of living Social Security increases.
Where millions of poor children will lose Medicaid.
Where millions of students are debt entrapped for life.
Welcome to a land where most one day will be better off by leaving because no homeland opportunities exist.
Ask millions of downsized middle class Americans heading for working poor status.
Ask political Washington why members sworn to serve instead betray.
Expect no answer because you’ll get none.
Refuse to take anymore and resist, including about Obama’s shameless new wealth transfer scheme to corporate favorites and super-rich elites called “stimulus.”
On September 8, a New York Times editorial headlined, “The Jobs Speech,” saying:
Obama’s proposal was more “ambitious….robust and far-reaching than expected – that may be the first crucial step in reigniting the economy….”
“(H)e was authoritative in demanding that Congress pass his plan quickly….We hope Mr. Obama keeps his promise to take his proposals all over the country. The need to act is urgent.”
Only the last statement had merit in an editorial best rebuked for not explaining who benefits at whose expense.
On September 20, a Times editorial headlined, “A Call to Fairness,” saying:
Obama “issued an unabashed call for economic fairness in cutting the federal deficit, asking as much from those on the economy’s upper rungs as from those lower down whose programs may be slashed.”
