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The Sordid Obama legacy and the plight of the corporate Democrats

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Clinton, Bush and Obama
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When the meat wagon drives up to the Whitehouse next year and the political corpse of the Obama legacy is lifted and hauled off to the morgue, a post-mortem autopsy will reveal that Obama and his corporate Democratic party died of collusion with right wing reactionaries, capitulation to Wall St., conniving with the military and of course, mendacity and perfidy directed at the American people.

In fact, now that the corporate democrats have lost the 2014 elections for Senate the prospects of an entire takeover of all functions of government by the republic party now has real currency.

The corporate Democratic Party, under Obama has served the interests of the ruling elite in America, the plutocrats and the military, very nicely. Obama and his cronies are the wheel men for the grand American heist.

Obama's sordid legacy -- more money from Wall Street than any other president in 20 years


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Obama had the full support of the establishment at every step of the way as reporter Paul Street, a reporter for Z-Magazine perfectly sums up:

"The predominantly white U.S. business and political establishment still makes sure that nobody who questions dominant domestic and imperial hierarchies and doctrines can make a serious ("viable") run for higher office -- the presidency, above all. Barack Obama is no exception to the rule. Anyone who thinks he could have risen to power without prior and ongoing ruling class approval is living in a dream world.
-- Paul Street, "Barack Obama as a Ruling Class Candidate", http://www.zmag.org/znet/viewArticle/19343

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Despite his rhetorical attacks on Wall Street, a study by the Sunlight Foundation's Influence Project clearly shows that President Barack Obama has received more money from Wall Street than any other politician over the past 20 years, including former President George W. Bush (http://dailycaller.com/2011/10/10/obama-attacks-banks-while-raking-in-wall-street-dough/).

Let's take a look at what the sordid legacy of Obama will cobble together for his soon to be built multi-million dollar legacy.

CEO pay -- and the Obama legacy


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Trends in CEO compensation last year (2013) show that the average CEO compensation was $15.2 million in 2013, using a comprehensive measure of CEO pay that covers CEOs of the top 350 U.S. firms and includes the value of stock options exercised in a given year, up 2.8 percent since 2012 and 21.7 percent since 2010 ((http://www.epi.org/publication/ceo-pay-continues-to-rise/).).

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And a report released in 2013 by the Economic Policy Institute confirms what many already knew: CEOs are getting raises far fatter and faster than the people they employ--on average, they now make nearly 273 times as much as working people (http://www.epi.org/publication/ceo-pay-2012-extraordinarily-high/).

Obama has been a disaster for working Americans and a boon for the military and CEO's who have seen their wealth soar. The US has added 1.1 million new millionaires since Barack Obama was elected president in 2008, according to a new survey of high-net-worth individuals (http://www.theguardian.com/business/2012/nov/01/us-new-millionaires-obama). Worldwide, Forbes magazine noted that in March 2009, there were 793 billionaires. In March 2014 there were 1645 billionaires.

The military industrial complex -- and the Obama legacy


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The military needed a corporate democrat in the form of Obama to assure that the war in Afghanistan continued, that Gitmo stayed open and that contractors were handsomely rewarded and drones were implemented under the rubric of the 'war on terror'. In Obama's own words:

"Over the next 10 years, the growth in the defense budget will slow, but the fact of the matter is this: It will still grow, because we have global responsibilities that demand our leadership. In fact, the defense budget will still be larger than it was toward the end of the Bush administration."

-- President Obama, speaking at the Pentagon , Jan. 5, 2012

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I am an author and investigative journalist who has written more than four hundred articles for Truthout, Counterpunch, Dissident Voice, Daily Censored, Project Censored and more. I received two awards from Project Censored, one in 2010 and one (more...)
 

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