Obama Prepares For His Last Great Sellout

President Obama Prepares For His Grand Sellout

Barack Obama, like the Clintons, is a creature of Wall Street. He’s a servant of this country’s currently dominant political force — the very rich and very richest, a group that styles itself the best and brightest.

His ability to totally sell out the interests of his party, the people that party purports to represent, and the country generally, however, has been restrained since he took office by a congress at least partially controlled by Democrats.

The Democrats lost control of the senate on Tuesday, and that restraint is now removed. Mr. Obama will now be free to do what he was put into office to do — completely sell out the poor and middle class to the lasting benefit of his rich and incredibly rich principals.

The mechanism by which he will do so was summed up in just a few words that appeared in a November 2 New York Times story: “Expecting a less friendly Congress after the election, President Obama’s aides are mapping out compromises with Republicans to expand trade and overhaul taxes.” Mitch McConnell, who wii soon head a Republican Senate, himself said he believed he and the President would at least be able “to work together on trade and taxes.”

You bet they will.

These compromises, no matter how packaged, will not only favor big corporate and financial interests to an extraordinary extent at the expense of everyone else, they will be so structured as to make serious future revisions extremely difficult.

Vast income inequality, an economic alpha-beta society, skewed maker and taker-based policy making, will be institutionalized. And because of Clinton-Obama domination of the Democratic Party apparatus, no real progressive populism will ever be allowed to take control of this once great vehicle of positive political and economic change.

It’s probably too late to stop the soon to appear Great Obama Sellout and its inevitable consequences. So then…

Let the slow, painful, challenged-at-every-turn creation of a new third party in this country begin in earnest.

mike@wallstreetpoet.com

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