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Grand Bargain Betrayal Coming

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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:

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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."

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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:"

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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