Depressing economic news this week has Republicans salivating with glee. As we move toward the election in less than one year and a half, the worse the economy is, the the better their prospects to improve their position in 2012 becomes. Consequently Republicans are pulling out all the stops to destabilize the economy in any way possible, as long as it allows their super rich to clean up. The tactic Democrats must take to counter this is a simple one.
Any notion that President Obama’s reelection campaign was gaining momentum was shaken this week by a string of worrisome economic reports showing weakness in the job market and new lows for housing prices.
The bad news for Obama stood in contrast to a run of positive developments that had given many Democrats reason for confidence. The economy had been adding jobs at a steady clip. A president once accused of being weak on national security ordered the raid that led to the killing of Osama bin Laden. And several potentially strong Republican presidential candidates took a pass on the race.
But on Friday, a surprisingly grim employment report was a warning that Obama could face a more challenging economy than had been expected. The government said the economy had added far fewer jobs than analysts had projected.
The disappointing news posed a predicament for Obama, who had scheduled a visit to a Chrysler plant Friday to herald the rebirth of the U.S. auto industry. As he gave a celebratory speech to cheering autoworkers, his advisers in Washington scrambled to explain the jobs report.
During Friday’s visit to the plant in Toledo, Obama did not mention the grim jobs number that was released Friday. Rather, he talked of saving a “proud industry” and “more than a million jobs.”
Still, he acknowledged continuing challenges. “[W]e still face some tough times,” Obama said. “There are still some head winds that are coming at us.”
Some political analysts said Obama would have to confront just how fierce those winds are.
“The prospect of economic growth getting up to a point and unemployment getting down to a point that is comfortable for an incumbent are declining by the month, and are now not very high at all,” said William Galston, a policy adviser in the Clinton White House and a veteran of Democratic presidential campaigns… [emphasis added]
Inserted from <Washington Post>
Obama and the Democrats have followed policies that could alleviate the situation. When they proposed revaluing under water mortgages, Republicans blocked it. When they proposed several different measures to give employers incentive to hire, Republicans have blocked them.
What Obama and the Democrats need to do is fight, not just give up. The need to put forward such measures again and again, vociferously complaining each time Republicans stand in the way. In that way, voters will see that one party is trying to help, and one, to hinder.
10 Responses to “The Economy May Favor Republicans”
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Within the confines of the current kleptocracy there are two prongs to the attack on freedom. The first is the manipulation of the markets, which are at the present time absolutely not controlled by the regulatory agencies which have been gutted of budgets so they have no man power to employ in enforcing regulations on the books that would stop the driving of the next bubble (commodities) by the the hedge and investment funds. which is why the right has cosied up to and PROMISED that they would for the sake of those banks and corporations do everything they can to block the regulators. A bad market means bad numbers, But understand at 13,000 the DJ Industrial AVG. looks good but that is just the bubble being blown again. Before the next election the banks, the TBTF banks are going to burst the bubble because I think they are short on commodities and when they stop increasing the price of them remove their monetary artificial props the prices will collapse and more pension fund and 401(k) money will shift upward which will piss people off.
Now the smaller businesses that are not involved in hedging but are publically traded will also lose capital and there will be another round of downward employment commonly called a double dip recession. These companies see what is happening which is why they are holding capital instead of hiring and expanding with it. With that capital they can again buy back their stock at newly depressed prices.
All of that is the first consciously thought out plan of the collusion between C street K street Wall Street and their gophers in the congress who if they get complete control can do what they want, which is save white middle class male America and regulate or control women’s right to choose what form of care they receive for health. This is their reward for sucking Koch (et al)
The second prong of this plan is being evidenced in the states as more and more of them pass newly minted Jim Crow voting laws which disenfranchise a substantial portion of the Lefts newly minted base by making it more difficult to both register and to vote. The less people who tend to vote centrist or progressive the easier it becomes for the minority to become the majority and the new ruling class.
So that is the plan…allow business’ which rule the markets to do so unfettered with regulations that are on the books already and disenfranchise as many voters as possible.
So then what do we wind up with A Theocracy in suits ruled not by Christian or moral principles first put forth in the Magna Carta but a theocracy based on Mosaic law of old testament Judaism. and this is not a slam against Jews or their laws but rather a slam against Republicans who are manipulating this into reality.
this is what I see as the two horns on the bull that if we are to be gored this is how it will be done. So what does one do?
Prepare now. Get rid of all debt anyway you can. Owe no one anything, that way when your wages are cut to nothing you will be able to support your selves. Liquidate as much of your stock as you can while the market is high and keep your own capital liquid which even if the value of the dollar falls you will have more of them than if you let the market take it from you on the way down just like it did when real estate collapsed.
Most importantly better start to know your neighbors, which ones are trustworthy and you can work with to grow food and protect your homes and which f them who wil steal you blind before they spend one hungry day.
Until the extremists right controls all aspects of your life they will keep obstructing and working for business not the people. they control 1/2 of government now in holding the house and they have absolute control of the Supreme court. Just so you know i suggest you back check me until you see it too then begin as soon as you can educate as many as you can before 2012.
Mark, I would hope that America will succeed in reigning the feinds behind this two pronged attack, but in case I’m wrong, your warning warrants heed.
The Repugs have power , and control within their grasp , as long as rank and file voters continue to allow themselves to be conned by the lies , the more certain disaster seems; I agree with TWM , I also agree that our only hope to stop this rapid downhill slide is to dig the heels in and fight back-
And fighting back is what I’m doing here. 🙂
The attention span of the people, is very short.
How can the economy be Obama’s Waterloo, if it was the Republicans who created the mess?And it was.
Tom, Republicans have made a political career of making messes and blaming Democrats for them, due to public ignorance.
The Repugs– like all sociopaths , take responsibility for nothing- but loudly blame everybody else–then Everybody else– faced with the barrage of noise and lies , backs up , and wonders what they should have , could, have, would have done to change the situation—-
Every body else– The Dems– then fail to fight back—Tom- you said it– attention spans are very short indeed-
Amen. 🙂
Oh, the public has such a short memory and is so quick to believe Republican lies! Let’s face it: Hoover and Dubya ruined our economy, and FDR and Obama and STIMULUS spending built it back up. The present GOP is perfectly willing to do what their equally wrong ancestors did in 1937: force a disastrous cutback on spending. Their attempt back then led to immediate recession, and we’re about to have them cause the same exact thing now.
The reason pur recovery has been so slow is that we DIDN’T SPEND ENOUGH ON IT, not that we spent too much. Government can and DOES create jobs, and at a much more plentiful rate than private Wall Street bankers or Texas oilmen just sitting on their money!
Jack I agree. Republicans used obstruction to guarantee that too much of was funneled into tax cuts for the rich.