[Marxism] 1937 redux?

Shane Mage shmage at pipeline.com
Sat Jul 30 08:06:39 MDT 2011


On Jul 30, 2011, at 9:07 AM, Louis Proyect wrote:
>
> http://www.salon.com/news/us_economy/index.html?story=/tech/htww/2011/07/29/debt_ceiling_gdp_and_the_economy
>
> How to make a bad economy even worse
> New GDP numbers should be a warning bell for Obama and Congress. But  
> they're not listening
> By Andrew Leonard
> ...With those numbers ringing in our ears, President Obama addressed  
> the nation and warned us that "on a day when we have been reminded  
> about how fragile the economy is" both parties need to get together  
> and cut a deal. And thus he demonstrated once again the amazing  
> disconnect between the current obsessions dominating our political  
> system and the economic plight of the nation.
>
> Yes, we need a deal that avoids default...

Except for Greenwald and Sirota, Salon is packed with apologists for  
Obama (Walsh, Kornacki, Leonard foremost among them). The above is a  
perfect example.  Leonard declares, totally falsely, that "we need a  
deal that avoids default."  Of course, no deal is needed at all to  
avoid default or the threat of default.  The President has all the  
legal authority necessary to avoid default, and he knows it.  At any  
point this year Obama could have simply told the people, the congress,  
and the "markets": "The USA will not default.  I have all the  
constitutional and statutory authority necessary to maintain the full  
faith and credit of the United States and I will use that authority.   
There will be no default no matter what the obstructionists in the  
House majority do or don't do.  All the governments bills will be  
paid. There will be no default."

So why didn't he say that?  Isn't it obvious?  His enforcer once said  
"a crisis is a terrible thing to waste,"  and if Obama had no crisis  
big enough to lay the ground for the Wall-Street austerity program he  
(together with his GOP frenemies) wants to impose then he and they had  
to invent one.  Which is where we're at.


Shane Mage

"scientific discovery is basically recognition of obvious realities
that self-interest or ideology have kept everybody from paying  
attention to"




More information about the Marxism mailing list