imc indymedia

Los Angeles Indymedia : Activist News

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


KILLRADIO

VozMob

CopWatch LA

ABCF LA

A-Infos Radio

Indymedia On Air

Dope-X-Resistance-LA List

LAAMN List





IMC Network: 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
printable version - js reader version - email this article - view hidden posts - tags and related articles

Grand Bargain Betrayal Coming

by Stephen Lendman Sunday, Nov. 11, 2012 at 11:50 PM
lendmanstephen@sbcglobal.net

class war

Grand Bargain Betrayal Coming

by Stephen Lendman

Obama's economic record includes nearly 25 million unemployed, around 23% of working age Americans without jobs, poverty, homelessness, and hunger at record levels or close to it, and the greatest wealth disparity in US history.

Privileged elites benefitted enormously on his watch. They'll get plenty more ahead. Others are enduring protracted hard times. Bipartisan complicity calls for making things worse, not better. Huge budget cuts loom. Social programs will be hit hardest. More on that below.

America's compromised progressive left hailed Obama's victory. Condemnation should have been headlined instead. Nation magazine lost its soul long ago.

Throughout its history, it pretended to have one. It scorns truth. It turns reality on its head. It ducks responsible reporting on issues mattering most.

On November 7, it headlined "A Progressive Surge," saying:

"While President Obama’s re-election inspires varying degrees of hope among progressives, it has evoked one common sentiment: relief. Democracy may not be reborn, but a living symbol of plutocracy was defeated by the voters on November 6."

It's hard believing so-called progressive editors would publish outrageous rubbish this offensive. Obama matches Romney's anti-populist agenda blow for blow.

They agree on most everything benefitting corporate favorites and rich elites at the expense of all others. They scorn social America. They don't give a damn about people needs. Pretending otherwise is unprincipled, reprehensible, and stupid.

Nonetheless, Nation editors celebrated "exhilarating wins" for Obama and likeminded Democrats. Hail to the party of the rich. It replicates the other rich man's party. America's duopoly calls progressivism a four-letter word.

"We are glad the 1 percent (was) rebuffed at the polls," said Nation editors…."We are glad that progressive politics….made the difference."

Perhaps they meant Venezuela's election instead. In October, people power defeated privilege. Letting Obama lead America's Money Party for another four years assures worse for ordinary people than in term one. It's baked in the cake.

Too bad Nation readers weren't told the truth. Nor regular New York Times adherents. On November 7, its editorial headlined "An Invigorated Second Term," saying:

"Without question, (Obama) intends to build on and improve the significant accomplishments of the last four years….to keep the economy growing."

His first term record might make some despots blush. His economic policies are weapons of mass destruction affecting ordinary people. He's got further mass immiseration in mind for term two. He also plans more war on humanity globally.

Times editors want his mandate used to "broaden his agenda." How much more scorched earth hell can people stand? They'll shortly find out straightaway.

Top domestic policy is massive social benefit cuts. Newspeak terminology substituted "grand bargain" for "austerity."

"Fiscal cliff" language refers to expiring yearend tax breaks and unemployment benefits, as well as looming $1.2 trillion in largely discretionary sequestered cuts to address them.

The 2011 Budget Control Act mandates them. Automatic reductions will affect vital social programs. Medicare, Medicaid, public pensions, food stamps, and other important ones will be hit hard.

The sequestered $1.2 trillion is for starters. Around $4 trillion over the next decade was agreed on. At issue isn't deficit cutting. Key is protecting corporate handouts and Bush era tax cuts, as well as expanding them for business and upper-bracket earners.

Bush era tax cuts cost America at least $3.5 trillion in vital revenue. Important domestic needs were sacrificed. If maintained or increased for 10 more years, another $3.5 trillion or more will be lost.

At the same, deficits will rise. Conservative projections show it. More realistic ones reveal ominous numbers.

America's duopoly already agreed on cuts and increases in principle. When publicly announced, newspeak duplicity will conceal the severity of what's coming. Initial cuts are expected on January 1 or shortly thereafter.

Neither party worries about deficits or debt. Saying so is duplicitous deception. Obama, most Democrats, and Republicans want corporate friends and super-rich elites protected.

Working Americans and seniors will bear the burden. Increased corporate and upper-bracket earner benefits are planned. Cuts affecting ordinary people were agreed on months ago. Timing remains to be decided.

It's not about amounts, who pays, and who benefits. Key also is assuring Bush era cuts are preserved and sweetened.

From now through yearend, four major issues must be resolved:

(1) extending the 2% payroll tax deduction another year. In fact, it's a stealth drain of hundreds of billions of dollars from Social Security's Trust Fund reserves.

Revenue already lost irreparably weakened its ability to pay future benefits. Lose more and the entire program may be lost. Privatization assures it.

Obama fully concurs on driving a stake through the heart of Medicare, Medicaid, Social Security and public pensions. He's no progressive. He's a corporatist hardliner. He never would have become president otherwise. Populists needn't apply.

(2) extending expiring unemployment benefits for millions of laid off workers.

(3) another one-year Alternative Minimum Tax (AMT) fix.

(4) delaying the 29% cut in doctors fees for serving Medicare patients.

Expect Republicans to drive a hard bargain like they always do. Democrats pretend they care. In fact, they've already sold out. Obama's reelection hinged on it.

He talks tough, then caves at the 11th hour. He did repeatedly throughout his first term. Both parties are in lockstep on defending privilege.

People needs don't matter. It's part of a longstanding plan to third worldize America. Safety net protection is someone else's problem.

On November 6, Bill Black discussed what's coming. His article headlined "Wall Street Urges Obama to Commit the Great Betrayal," saying:

Top domestic policy is eroding safety net protections en route to eliminating them altogether.

"Only a Democrat can make it politically safe for Republicans who hate the safety net to unravel it (a process that would occur over a number of years) by legitimizing the claim that (it) must be cut."

Obama was hand-picked to do it. "Wall Street's unholy grail (is) privatizing Social Security."

Doing so will let financial predators "charge tens of billions of dollars in fees annually and the banks that administered the privatized program would be systemically dangerous institutions (SDIs) because the consequences of allowing bank failures to cause tens of millions of Americans to lose their retirement savings would require either that all such deposits be federally insured or that the failing banks be bailed out by the federal government."

"Privatization, therefore, is a convenient fiction. The banks’ profits will be privatized. Any catastrophic losses will be borne by the public."

The Big Lie claims no acceptable alternative exists. Safety net cuts must be imposed. Obama's sharpened knife is a dagger at the heart of what matters most to ordinary people. Their welfare, security and futures are up for grabs. They're being destroyed in plain sight.

Force-fed austerity assures the worst of hard times. It's responsible for what Black calls "the four horsemen of the economic apocalypse:"

• economic decline;

• job cuts and greater unemployment;

• increased deficits and debt; and

• destruction of safety net protections.

Combined assures third world status. Black said Obama prioritizes it. We're forewarned but does it matter? Few Americans understand what's coming.

Grand bargain betrayal is planned. It's come in stages like boiling a frog. It doesn't know it's dinner until too late.

Social America is on the chopping block for elimination. It's been happening incrementally for decades. Democrats are in league with Republicans. Their agenda assures intolerable pain and suffering for ordinary people.

Standard & Poor's and other rating agencies endorse it. They're corporate tools. They mostly represent Wall Street and other financial interests. S&P's marching orders called for downgrading US credit to AA+. It did so in August 2011, saying:

"The markets have spoken and anyone who continues to insist that entitlements or taxes are off the table is condemning the US to second rate economic status and a permanent downgrade."

"America’s credit rating is at a crossroads. We can choose to heed this message by finishing the deficit reduction job with a balanced plan that is composed mainly of entitlement cuts, closing tax loopholes and defense cuts, or we can squabble while our global standing continues to sink."

"The markets have spoken and anyone who continues to insist that entitlements or taxes are off the table is condemning the US to second rate economic status and a permanent downgrade."

S&P targeted safety net protections. Including defense and tax loopholes reflected pro forma deception. Whatever benefits America's imperium, Wall Street, other corporate favorites, and super-rich elites is sacrosanct and untouchable.

Expect fast and loose deception to conceal it. Obama's an old hand at it. He's a con man. He's Wall Street's man. They chose him and expect four more years of subservience. He won't disappoint.

Forewarned is forearmed. "(W)e do not need to unravel the safety net and doing so would harm our nation," said Black. Ideologues are wrong about what's best for America.

Throughout his political career, Obama's been a stealth Republican. His voting record proves it. Reelecting him serves elitist interests well. They know what they want and got it.

Stephen Lendman lives in Chicago and can be reached at lendmanstephen@sbcglobal.net.

His new book is titled "How Wall Street Fleeces America: Privatized Banking, Government Collusion and Class War"

http://www.claritypress.com/Lendman.html

Visit his blog site at sjlendman.blogspot.com and listen to cutting-edge discussions with distinguished guests on the Progressive Radio News Hour on the Progressive Radio Network Thursdays at 10AM US Central time and Saturdays and Sundays at noon. All programs are archived for easy listening.

http://www.progressiveradionetwork.com/the-progressive-news-hour
Report this post as:
Share on: Twitter, Facebook, Google+

add your comments


Local News

Segregation in the City of Angels: A 1939 Map of Housing Inequality in L.A. A15 7:44PM

Justice Dept. seeking info, IDs on 1.3M visitors to protest website DisruptJ20.org A15 1:04PM

San Francisco Rally Protests Hate Crimes in Charlottesville A14 5:38PM

New Google algorithm restricts access to left-wing, progressive web sites A02 1:52PM

Tracking Twenty Years of Stockton Killings by Law Enforcement A02 1:27PM

Garcetti Cronyism - Why and How to Ignore Your LA Dog License A01 5:05PM

Nation's Worst Meltdown Was In LA J31 4:54PM

As RV towing resumes in LA, officials say program won't 'target homeless' J31 1:15PM

Class War on the Waterfront: Longshore Workers Under Attack J21 10:18AM

Limits to Growth Published Forty Years Ago J18 5:15AM

KPFK's Indy Media on Air Now on Wednesdays J25 9:13AM

Lessons From Portland’s Clashes With Fascists J13 7:36PM

Dr. Maryse Narcisse of Haiti Visits Southern California M20 5:55PM

May Day March in Riverside M02 10:35PM

Nuclear Shutdown News: April 2017 M02 4:38PM

Jewish “Defense” League: Nazis in Skull-caps A07 11:13AM

Nuke Shutdown News 3/17 A01 4:13PM

RELATIONS STILL STRAINED BETWEEN SOUTH LOS ANGELES RESIDENTS AND THE POLICE M22 3:22PM

Elect a Green to Congress in Los Angeles M15 2:18AM

Prop. H Activists March on Hollywood to House and Help the Homeless M01 1:46PM

Prop. H Activists March on Hollywood to House and Help the Homeless M01 1:09PM

Prop. H Activists March on Hollywood to House and Help the Homeless M01 12:19PM

More Local News...

Other/Breaking News

Sonja Trauss is No Anarchist A17 6:08PM

Happy Accidents Offers The Secrets To Success From A Fresh New Perspective A17 5:31PM

Elephants giving rides at this year’s Minnesota Renaissance Festival were abused, says Ani A17 5:16PM

The Shortwave Report 08/18/17 Listen Globally! A17 4:55PM

Vésanie normative A16 10:11PM

Trump's Neo-Nazis and the Rise of Illiberal Democracy A16 7:50PM

#HeatherHeyer A16 7:12PM

Central Kentucky Mobilization for Hemp Passed near Lexington I-75 A15 5:25PM

environment harmed by mandatory jury duty. A15 10:58AM

Fbi Agents Rampantly Engage In Criminal Activity A15 8:53AM

Boeing Built the B-52 and the 747 A14 9:21AM

The Struggle to Influence GI,s during the VietnamWar A14 8:27AM

Tératologie paraphysique A13 11:09PM

Controlled media covers up fbi high crimes A13 1:09PM

Fuel Bandits Stealing Fuels wiyj Stolen Credit Card Numbers Reselling on Black Market A13 7:06AM

Russia-gate’s Mythical ‘Heroes’: James Comey and Robert Mueller pliable operatives A12 10:38PM

The true history of the fbi A12 7:37PM

Fbi frustration with my success A12 8:21AM

Plantations Were Prisons: Mobilizing for the Aug. 19 Prisoners Human Rights March A11 11:23AM

Le syndicalisme du capital A10 10:48PM

The Shortwave Report 08/11/17 Listen Globally! A10 4:22PM

Paraphysique de la nociception A09 11:32PM

End The USA's Police State A09 4:53PM

July 2017 Honduras coup update A09 5:24AM

Paraphysique de scotomisation A07 11:04PM

Fbi Rots The Soul Of Our Nation A07 6:21PM

Requiem for Rose Lynn Mangan A07 5:02PM

Fbi is a threat to national security & Congress cares Not A06 2:43PM

More Breaking News...
© 2000-2003 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