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Grand Bargain Betrayal Coming

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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.

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I was born in 1934, am a retired, progressive small businessman concerned about all the major national and world issues, committed to speak out and write about them.

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Third world status indeed! This has been careful... by Paul Repstock on Sunday, Nov 11, 2012 at 8:15:50 AM
Obama doesn't OWE the 'money powers' as much as he... by MadAngel on Sunday, Nov 11, 2012 at 11:06:29 AM
Then KumbayaBama will cave in to everything the fi... by 911TRUTH on Sunday, Nov 11, 2012 at 11:32:56 AM
 Mr. Lendman,  What is the story on Arge... by Ad Du on Sunday, Nov 11, 2012 at 4:43:52 PM
Get stuffed!... by Hunter McClain on Sunday, Nov 11, 2012 at 7:13:48 PM