imc indymedia

Los Angeles Indymedia : Activist News

white themeblack themered themetheme help
About Us Contact Us Calendar Publish RSS
Features
latest news
best of news
syndication
commentary


KILLRADIO

VozMob

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List




IMC Network:

Original Cities

www.indymedia.org africa: ambazonia canarias estrecho / madiaq kenya nigeria south africa canada: hamilton london, ontario maritimes montreal ontario ottawa quebec thunder bay vancouver victoria windsor winnipeg east asia: burma jakarta japan korea manila qc europe: abruzzo alacant andorra antwerpen armenia athens austria barcelona belarus belgium belgrade bristol brussels bulgaria calabria croatia cyprus emilia-romagna estrecho / madiaq euskal herria galiza germany grenoble hungary ireland istanbul italy la plana liege liguria lille linksunten lombardia london madrid malta marseille nantes napoli netherlands nice northern england norway oost-vlaanderen paris/Île-de-france patras piemonte poland portugal roma romania russia saint-petersburg scotland sverige switzerland thessaloniki torun toscana toulouse ukraine united kingdom valencia latin america: argentina bolivia chiapas chile chile sur cmi brasil colombia ecuador mexico peru puerto rico qollasuyu rosario santiago tijuana uruguay valparaiso venezuela venezuela oceania: adelaide aotearoa brisbane burma darwin jakarta manila melbourne perth qc sydney south asia: india mumbai united states: arizona arkansas asheville atlanta austin baltimore big muddy binghamton boston buffalo charlottesville chicago cleveland colorado columbus dc hawaii houston hudson mohawk kansas city la madison maine miami michigan milwaukee minneapolis/st. paul new hampshire new jersey new mexico new orleans north carolina north texas nyc oklahoma philadelphia pittsburgh portland richmond rochester rogue valley saint louis san diego san francisco san francisco bay area santa barbara santa cruz, ca sarasota seattle tampa bay tennessee urbana-champaign vermont western mass worcester west asia: armenia beirut israel palestine process: fbi/legal updates mailing lists process & imc docs tech volunteer projects: print radio satellite tv video regions: oceania united states topics: biotech

Surviving Cities

www.indymedia.org africa: canada: quebec east asia: japan europe: athens barcelona belgium bristol brussels cyprus germany grenoble ireland istanbul lille linksunten nantes netherlands norway portugal united kingdom latin america: argentina cmi brasil rosario oceania: aotearoa united states: austin big muddy binghamton boston chicago columbus la michigan nyc portland rochester saint louis san diego san francisco bay area santa cruz, ca tennessee urbana-champaign worcester west asia: palestine process: fbi/legal updates process & imc docs projects: radio satellite tv
printable version - js reader version - view hidden posts - tags and related articles

Obama and the Crisis of Expectation

by Workers Action Monday, Nov. 17, 2008 at 8:09 AM

With Obama elected President but not yet inaugurated, the question on everyone’s mind is, “what’s going to happen next?” Millions of people around the world are hoping that a Obama presidency will radically change the course of US politics, and with it, world politics. This is especially true for the huge numbers of mostly young volunteers working for Obama’s campaign, most of whom had never been involved in politics before. And while it is impossible to predict the future precisely, one can make an educated guess as to Obama’s future actions, based on answering two fundamental questions: which social class is Obama and the Democratic Party going to represent while in office, and what are the current interests of that class. For example, if Obama were to act in the interests of the working class, a number of measures would be immediately taken, such as increasing wages, improving healthcare, funding schools, ending war, etc. If, on the other hand, Obama is going to represent the ruling class, we can expect policies similar to the Bush Presidency, who long ago proved himself to be a puppet for the banks and corporations.



At this point, there is more than ample proof that Obama will be representing the interests of corporate-elite. How do we know this?

1. Obama’s electoral campaign raised hundreds of millions more than John McCain’s, most of it coming from the rich.

2. Obama’s “dream team” of economic advisers are all top CEO’s and Wall Street insiders (including the richest man in America, Warren Buffet); his Chief of Staff, Rahm Emanuel is a hardened member of the Washington political establishment.

3. Since winning the democratic nomination, Obama has been furiously backpedaling his progressive rhetoric, while preaching a continuous sermon from the book of big business.

4. He joined hands with the Republicans to ensure that the Wall Street bailout was passed!

5. He advocates a “surge” of troops into Afghanistan, while committing nothing concrete in permanently removing troops from Iraq.

Many other examples could be cited.

There are those that already recognize Obama as a representative of the ruling class, but imagine his policies may resemble that of FDR and the New Deal. This perspective seems unlikely, based on the second above-named question: what are the current interests of the ruling class? The ruling class of today is far different than it was in FDR’s day, and not by accident.

The New Deal was a product of a rising American capitalism, complete with huge cash surpluses and stockpiles of gold. The US had recently bypassed England as the world’s economic superpower, and could rely on its dominance in the market to further its status. Internationally, the US had complete control of the western hemisphere, and used Latin America as it wished for cheap labor and raw materials.

Even with its excellent position, it took a mass labor movement and threat of approaching revolution to scare the ruling class into making the concessions now known as the New Deal; the myth of which is far more impressive than its achievements. But enough progress was made — social security, the right to unionize, and social works projects — to make a section of the ruling class seriously contemplate a military coup.

The US ruling class of today is far different: they are a falling star instead of a rising one. The laws of capitalist competition have steadily eroded its power. The US is now the largest debtor nation instead of the largest creditor, to the tune of 10 trillion dollars. Its currency is crumbling. With its manufacturing base off-shored, the US economy is largely run on consumer spending and Wall Street speculating, causing an enormous annual trade deficit.

When it comes to the rate of economic growth, the US lags behind “emerging economies,” such as China and India. These countries out-compete the US because of the slave wages of their workforce, which the US business class looks at with envy.

The US former “backyard,” Latin America, is slipping out of its control, while tremendous wealth is being drained in two losing wars. Weakness indeed invites aggression, with rising economies like China, India, and Russia brushing off US military and economic threats, making serious inroads into the US market dominance.

In a desperate attempt to maintain its global position, the ruling class has reached a consensus: to rely on its gigantic military machine to compensate for its falling economic influence. Let us not forget that both political parties continue to financially support the wars in Afghanistan and Iraq, while at the same time preaching against them. Under capitalism, market and resource dominance are far more important considerations for the employer class than the desires of its workers.

A stark example of this is Obama’s proposed surge into Afghanistan; something that has been highly applauded by those that control the economy the funding of which will not be used to help the working class. Obama has said nothing about reducing the gargantuan US military budget, and has hinted that he would increase it!

Recently, Obama has made several speeches where he emphasizes the need for us to “sacrifice” and “tighten belts.” He is not talking to the corporate elite here. Obama also talks incessantly about “cutting programs” and “trimming spending.” We can safely assume the programs he intends to cut are those that benefit working people.

A ten trillion dollar debt and a sinking US economy vastly limit Obama’s options, that is, if he chooses to act in the favor of the ruling class, which has very narrow interests at this point: saving Wall Street, maintaining the military budget, and “balancing” the rest of the budget, i.e., cutting social programs. This is because the bi-partisan policy of printing money to deal with wars and economic crisis has put the dollar under immense pressure; the ruling class is scared that inflation could wreak havoc on an already-poor economy. Therefore, spending has to be reduced, but not in the sphere of bank bail-outs and armaments. The financial elite believe that there is zero money available—unless it is spent on them.

Although it is possible that Obama will enact some reforms, such as closing down Guantanamo Bay, slightly increasing taxes to the wealthy, and giving a minor economic stimulus to the working class, the fundamentals of his policies will be shaped by the above considerations of the ruling class.

It is this fact that will act as a hammer blow to the built up expectations around Obama. These immense hopes, combined with the realities of Obama’s future policy, make for an especially explosive situation.

As the economic crisis deepens, Obama’s first priority will be to save the financial institutions and major corporations by providing them with further bailouts, with working people continuing to foot the bill. But opposition has already broken out in response to this perversion of justice: the New York City Central Labor Council was one of many groups that organized demonstrations denouncing the bailouts. Meanwhile, the faculty union at the California State University system has been reaching out to other faculty unions across the nation to demand more federal money for public higher education. Antiwar actions are being planned for March. These struggles are not disconnected.

Confronted by this all out attack on our standard of living, working people will find it increasingly necessary to organize its ranks and begin to forge a broad-based coalition to defend all those falling victim to an economic system that values profits above all else. Such a coalition, encompassing unionized workers, unorganized workers, the unemployed, immigrants, women, Blacks, Latinos, etc., should be aimed at opposing the Wall Street bailout, while demanding a bailout for the unemployed, for those who are losing their houses, for those whose wages have been reduced, for those that cannot afford an education, and for the protection and extension of government programs that serve working people, since these programs are currently being viciously cut and slashed. All of these demands could easily be financed by taxing the rich, a very obvious solution that Obama dare never say.

Stop the Bailout of Wall Street!

Tax the Rich to Bail Out Working People!
Report this post as:

LATEST COMMENTS ABOUT THIS ARTICLE
Listed below are the 10 latest comments of 2 posted about this article.
These comments are anonymously submitted by the website visitors.
TITLE AUTHOR DATE
Potential of Obama's Base obama-ade Monday, Nov. 17, 2008 at 9:46 AM
'great expectations' and reality Bob Bullshit Monday, Nov. 17, 2008 at 11:35 AM

Local News

Change Links 2018 July posted J09 1:27PM

More Pix: "Families Belong Together," Pasadena J02 12:16PM

"Families Belong Together" March, Pasadena J02 12:08PM

Short Report on the Families Belong Together Protest in Los Angeles J30 4:26PM

Summer 2018 National Immigrant Solidarity Network News Alert! J10 11:58PM

Watch the Debate: Excluded Candidates for Governor of California M30 10:20PM

Change Links June 2018 posted M28 12:41AM

The Montrose Peace Vigil at 12 Years M22 1:01PM

Unity Archive Project M21 2:42AM

Dianne Feinstein's Promotion of War, Secret Animal Abuse, Military Profiteering, Censorshi M17 3:22PM

CA Senate Bill 1303 would require an independent coroner rather than being part of police M10 2:08PM

Three years after OC snitch scandal, no charges filed against sheriffs deputies M10 1:57PM

California police agencies violate Brown Act (open meetings) M02 1:31PM

Insane Company Wants To Send Nuke Plant Waste To New Mexico A29 4:47PM

Change Links May 2018 A27 1:40AM

Worker-Owned Car Wash on Vermont Closed A26 10:37PM

GUIDE TO REBEL CITY LOS ANGELES AVAILABLE A12 5:39PM

lausd whistle blower A10 11:58PM

Website Upgrade A10 3:02AM

Help KCET and UCLA identify 60s-70s Chicano images A04 1:02PM

UCLA Luskin: Casting Youth Justice in a Different Light A02 11:58AM

Change Links April 2018 A01 11:27AM

Nuclear Shutdown News March 2018 M31 6:57PM

Join The Protest Rally in Glendale on April 10, 2018! M29 7:00PM

Spring 2018 National Immigrant Solidarity Network News Alert! M19 2:02PM

Anti-Eviction Mapping Project Shows Shocking Eviction Trends in L.A. M16 5:40PM

Steve Mnuchin video at UCLA released M15 12:34AM

Actress and Philanthropist Tanna Frederick Hosts Project Save Our Surf Beach Clean Ups M06 12:10PM

More Local News...

Other/Breaking News

Disabled Folks among the extreme poorest in US counts J22 7:03PM

Banks Enriched By Trump Deficit Increase Of 4 to 5 Trillion $ J22 5:48PM

Illegal Russians Receiving Land and Homes in West Bank 2018 J22 11:24AM

Un monde de pauvreté J22 12:54AM

14 Disturbing Facts About Scott Gottlieb, Trump's FDA Head J20 10:47PM

Behind the scenes at fbi National Academy J20 2:47PM

Treasury Takes Aim at Shell Companies J20 11:18AM

Paraphysique de l'intelligence J20 9:08AM

Oklahoma GOP Senator Jim Inhofe's Bloody Record J20 4:01AM

Globalization: hope on the horizon despite Fake Liberals. J20 3:41AM

Sorry President Trump,Ted Cruz Texas Judicial System,is Worse Than Many Shithole Countries J19 4:49PM

The Shortwave Report 07/20/18 Listen Globally! J19 4:33PM

The System Question as a Survival Question J18 8:54PM

Nation's Largest Voting Machine Co., ESS, Admits Lying Re Having Installed Remote Control J18 11:55AM

Du pain et des jeux J18 9:53AM

Paraphysique de martyrologie J17 8:00AM

Children Incorporated Earns 4-Star Rating on Charity Navigator J16 11:24AM

Democratic Socialists of America J14 4:57PM

Leonard Peltier Non Violent Native American Political Prisoner since 1970's J14 4:18PM

Paraphysique miscellanées de l'aggiornamento J14 12:54AM

FBI Investigated LA County Sheriff Baca,Why Not Hank Skinner's Persecution? J13 3:52PM

Updated Partial List Of Famous Vegetarians, Vegans, & Fruitarians J13 2:59PM

The Shortwave Report 07136/18 Listen Globally! J12 4:36PM

Social Policy as Social Infrastructure J12 3:38AM

Vol I: 84 Varieties Of GOP Election Fraud J12 1:50AM

Texas Can Call it An Execution,But It is A State Sponsored Murder of Hank Skinner.. J11 6:48PM

June 2018 Honduras coup update J11 3:35PM

Maria Estrada doubles down on racist support J11 1:40PM

More Breaking News...
© 2000-2018 Los Angeles Independent Media Center. Unless otherwise stated by the author, all content is free for non-commercial reuse, reprint, and rebroadcast, on the net and elsewhere. Opinions are those of the contributors and are not necessarily endorsed by the Los Angeles Independent Media Center. Running sf-active v0.9.4 Disclaimer | Privacy