Barack Obama will be re-elected not as a vindication of his policies but because the Republicans are incapable of providing a reasonable challenge to his flawed performance. On the central issue of our time--reining in the greed of the multinational corporations, led by the financial sector and the defense industry--a Republican presidential victor, with the possible exception of the now-sidelined Ron Paul, would do far less to challenge the kleptocracy of corporate-dominated governance.
As compared to front-runner Mitt Romney, who wants to derail even Obama's tepid efforts at regulating Wall Street, and who seeks ever more wasteful increases in military spending, the incumbent president appears relatively enlightened, but that is cold comfort.
Not only has Obama been a savior of the banking conglomerates that so generously financed his campaign, but he also has proved to be equally as solicitous of the needs of the military-industrial complex. He entered his re-election year by signing a $662 billion defense authorization bill that strips away some of our most fundamental liberties and keeps military spending at Cold War levels, and by approving a $60 billion arms deal with Saudi Arabia.
Those two actions represent an obvious contradiction, since the attack on American soil that kept defense spending so high in the post-9/11 decade was carried out by 15 Saudis and four other men directed by Osama bin Laden, a wealthy Saudi primarily using funding from his native land. Now Saudi Arabia is to be protected as a holdout against the democratic impulse of the Arab Spring because it is our ally against Iran, a nation that had nothing to do with 9/11. Saudi Arabia, it should be recalled, was one of only three nations, along with the United Arab Emirates and Pakistan, to recognize the Taliban government that harbored bin Laden before 9/11.
This is the same Saudi monarchy that rushed its forces into Bahrain last March to crush a popular uprising. But that doesn't trouble the Obama administration; for two years it has been aggressively pushing the Saudi arms deal, which includes $30 billion in fighter jets built by Boeing. Forget human rights or the other good stuff Democrats love to prattle on about. As White House spokesman Josh Earnest put it: "This agreement reinforces the strong and enduring relationship between the United States and Saudi Arabia and demonstrates the U.S. commitment to a strong Saudi defense capability as a key component to regional security."