Wednesday, November 03, 2010

Obama's Midterm Report Card

Update:  Because of the size of the Repugnant victory in the US House of Representatives, US Person must downgrade Forty-four to a D.*  It is the largest margin since the sweep of 1938.  The margin of victory (60 seats) exceeds that achieved by Newt "the Grinch" Gingrich during the Clinton administration (52 seats).  But that so-called "Contract with America" brought us the shut down of the federal government and the prolonged agony of the Clinton impeachment on a hypocritical morals charge.  It remains to be seen what foolishness awaits us with extremist tea party politicians in positions of power within the GOP. GOP leaders are already promising to repeal the health care reform enacted this year.  Forty-four will only compound his mistakes if he looses sight of the indisputable fact that his jubilant opponents have nothing to gain and everything to loose in 2012 by allowing him to be perceived as a successful President by voters.

{2.11.10}If Obama & Folks get an F after this midterm election--an F being loosing both the House and the Senate, a C for only loosing the House--credit another case of disappointing raised expectations. Obama's electrifying campaign rhetoric proved hollow after his first two years of holding the Office of President, despite a Democratic majority Congress passing several significant pieces of legislation. He promised change in Washington, and what we got was more of the same: neo-liberal incrementalism. All of his legislative accomplishments are tainted by the loathsome process of political deal making, and smack of too much compromise with principal for his liberal base. The war in Afghanistan is now the longest in our history with more troops committed by this President to an unachievable goal. The Guantanamo gulag, symbol of this nation's departure from fundamental principals of civil liberty and international law, is still in existence.  Obama's health care reform for which he expended so much political capital, is the insurance industry's preferred alternative without needed competition from a non-profit policy option. Yet Americans will be required to further enrich the already bloated health insurance industry or face fines. The financial reform does not restore the fundamental Glass-Steagall Act prohibition against investment banks also becoming depository banks, nor does it do anything to brake up the Wall Street oligopoly that completely dominates the nation's financial system. The Federal Reserve Bank is just another captured regulator that fails to protect the public, akin to the regulatory failure that helped create the environmental disaster in the Gulf of Mexico. Even though the TARP rescue is turning a profit thanks to record low interest rates and a manipulated stock market, the bailout has not relieved the pain of the Second Great Depression on Main Street. There is no widespread mortgage loan relief or lower consumer credit rates on the President's agenda to aid the unemployed. This last mentioned disappointment is perhaps the bitterest pill for the electorate to swallow. Yet another Wall Street rescue demonstrates to ordinary Americans that the rules are different for those with money to influence professional politicians. "Yes, we can....but" was the how Obama rephrased his campaign refrain on national TV just prior to this election. That "but" is a condition of approval by the plutocrats who control the political playing field and the players in America. Are you ready for some gridlock?

*In modern times Presidents from both major parties have lost seats in the House during their term in office. Such an outcome is graded a C. Lost of control of the lower house rates a C-. Loss of control by an historic margin must therefore be graded a D.   Lost of control of both Houses of Congress is nothing short of failure.