There were some serious whiners at the President’s CNBC Town Hall Forum. Middle class people were whining about how they were worried about the economy and how they did not know whether they would ever be economically secure.
The President’s response was not completely bad. He pointed out that he had expanded student loans and passed major credit regulation that would benefit the middle class, and that his goal is to stabilize the middle class and create opportunities for all poor citizens to join the ranks of Middle Americans.
Not strong enough, I think. The President has been in office for less than two years, has built a phenomenal record of legislation (even if I sometimes think he could have done more). He has stabilized the economy and prevented it from sliding into the abyss that characterized the four years of depression under Herbert Hoover. But he was handed the worst economy in history, bar none. Had Busch not bailed out the banks and Obama not saved the car industry and gotten the stimulus package approved, our economy today would make the USA in 1932 and Weimar Germany look like prosperous times. Quick action by the US government saved the world economy and stopped the slide into economic chaos.
No depression is ever resolved after only two years. It takes time for an economy to rebuild and the experts say this one will be slower to rebuild than many. From a political perspective, the rebuilding part is being held back by Conservative Democrats and the GOOP. Obama has often been powerless to accomplish the things that need to be done.
The President’s answer to those whiners should have said all that, and added one more note. If the GOOP succeeds in taking over the House and Senate in November, it will get a lot worse. The GOOP plan is clear: make the rich richer and create a vast pool of under-employed who will work for peanuts and fight the wars that make the ruling class richer. Recreate the 19th Century British Empire. Do away with inconvenient government regulation, rape the earth and take all the value for the rich.
Economic depression is a convenient tool for concentrating wealth in the hands of the top two percent. That’s where the GOOP wants to go. Middle Class Americans who whine about uncertainty and sit on their hands this November do so at their own peril.