598 online
 
Most Popular Choices
Share on Facebook 54 Printer Friendly Page More Sharing Summarizing
OpEdNews Op Eds    H2'ed 6/4/11

Making the US Economy "Scream"

By       (Page 3 of 4 pages) Become a premium member to see this article and all articles as one long page.   1 comment

Robert Parry
Message Robert Parry
Become a Fan
  (84 fans)

Soon, billionaires like oil man David Koch and media mogul Murdoch, were promoting a "grassroots" rebellion against Obama called the Tea Party. Activists were showing up at presidential speeches with guns and brandishing weapons at rallies near Washington.

The high-decibel disruptions and the "screaming" economy created the impression of political chaos. Largely ignoring the role of the Republicans, the press faulted Obama for failing to live up to his campaign promise to bring greater bipartisanship to Washington.

Hearing the discord framed that way, many average Americans also blamed Obama; many of the President's supporters grew demoralized; and, as happened with Allende in Chile, some on the Left turned against Obama for not doing more, faster.

By November 2010, the stage was set for a big Republican comeback. The party swept to victory in the House and fell just short in the Senate. But Congress was not the Republicans' true goal. What they really want is the White House with all its executive powers.

However, following Obama's success in killing Osama bin Laden on May 2 and with what is widely regarded as a weak Republican presidential field, the Right's best hope for regaining complete control of the U.S. government in 2012 is to sink the U.S. economy.

Already, the Republican success in limiting the scope of the stimulus package and then labeling it a failure -- combined with deep cuts in local, state and federal government spending -- have helped push the economy back to the brink where a double-dip recession is now a serious concern.

Despite these worries -- and a warning from Moody's about a possible downgrade on U.S. debt if Congress delays action on raising the debt limit -- the Republicans are vowing more brinksmanship over the debt-limit vote. Before acting, they are demanding major reductions in government spending (while refusing to raise taxes on the rich).

A Conundrum

So, Obama and the Democrats face another conundrum. If they slash spending too much, they will further stall the recovery. However, if they refuse to submit to this latest round of Republican blackmail, they risk a debt crisis that could have devastating consequences for the U.S. economy for years -- even decades -- to come.

Either way, the right-wing media and much of the mainstream press will put the blame on Obama and the Democrats. They will be held accountable for failing to govern.

The Republican propaganda machine will tell the American people that they must throw Obama and the Democrats out of office for stability to return. There will be assurances about how the "magic of the market" will bring back the bright days of prosperity.

Of course, the reality of a new Republican administration, especially with a GOP Congress, would be the return of the old right-wing nostrums: more tax cuts for the rich, less regulation of corporations, more military spending, and more privatization of social programs.

Any budget balancing will come at the expense of labor rights for union employees and shifting the costs for health care onto the backs of the elderly. Yet, all this will be surrounded by intense propaganda explaining the public pain as a hangover from misguided government "social engineering."

There is, of course, the possibility that the American people will see through today's Republican CIA-style strategy of "making the economy scream." Americans might come to recognize the role of the pseudo-populist propagandists on Fox News and talk radio.

Or Republicans might have second thoughts about playing chicken on the debt limit and running the risk of a global depression. Such a gamble could redound against them. And, it's hard to believe that even their most ardent billionaire-backers would find destruction of their stock portfolios that appealing.

But there can be a momentum to madness. We have seen throughout history that events can get out of hand, that thoroughly propagandized true believers can truly believe. Sometimes, they don't understand they are simply being manipulated for a lesser goal. Once the chaos starts, it is hard to restore order.

Next Page  1  |  2  |  3  |  4

(Note: You can view every article as one long page if you sign up as an Advocate Member, or higher).

Must Read 3   Well Said 2   News 1  
Rate It | View Ratings

Robert Parry Social Media Pages: Facebook page url on login Profile not filled in       Twitter page url on login Profile not filled in       Linkedin page url on login Profile not filled in       Instagram page url on login Profile not filled in

Robert Parry broke many of the Iran-Contra stories in the 1980s for the Associated Press and Newsweek. His latest book, Secrecy & Privilege: Rise of the Bush Dynasty from Watergate to Iraq, can be ordered at secrecyandprivilege.com. It's also available at
(more...)
 

Go To Commenting
The views expressed herein are the sole responsibility of the author and do not necessarily reflect those of this website or its editors.
Writers Guidelines

 
Contact AuthorContact Author Contact EditorContact Editor Author PageView Authors' Articles
Support OpEdNews

OpEdNews depends upon can't survive without your help.

If you value this article and the work of OpEdNews, please either Donate or Purchase a premium membership.

STAY IN THE KNOW
If you've enjoyed this, sign up for our daily or weekly newsletter to get lots of great progressive content.
Daily Weekly     OpEd News Newsletter

Name
Email
   (Opens new browser window)
 

Most Popular Articles by this Author:     (View All Most Popular Articles by this Author)

The CIA/Likud Sinking of Jimmy Carter

What Did US Spy Satellites See in Ukraine?

Ron Paul's Appalling World View

Ronald Reagan: Worst President Ever?

The Disappearance of Keith Olbermann

A Perjurer on the US Supreme Court

To View Comments or Join the Conversation:

Tell A Friend