As Dems Dither on Economic Crisis, Right Appeals to Racism

[Omaha Steve]

http://www.inthesetimes.com/working/entry/5137/right_appeals_to_racism_as_dems_dither_on_economic_crisis/

Friday November 6 11:36 am

By Roger Bybee

The recovery must be here. After all, what more proof is needed than the fact that Goldman Sachs is setting aside $16 billion for bonuses for 2009?

Of course, conditions are not quite so swell at the bottom of the economic pyramid, as unemployment moves past the dreaded 10% level and wage cuts spread throughout the workforce. "Pay cuts, sometimes the result of downgrades in rank or shortened workweeks, are occurring more frequently than at any time since the Great Depression," reports Louis Uchitelle, author of The Disposable American.

Moreover, this trend follows directly after an extended period in which American workers' real wages stood at 18 percent less in 2007 than they were in 1973. And foreclosures are at 10 times their daily rate during the Depression, according to Nomi Prins, author of It Takes a Pillage: Bailouts, Bonuses and Backroom Deals.

Democrats are not offering solid solutions to these huge, systemic problems, even as Wednesday's defeat of Democratic gubernatorial candidates in New Jersey and Virginia indicate that Democrats need to get moving on jobs.

"They need to pay attention to it," said Democratic strategist Steve Elmendorf. "Voters spoke, and I think the message they sent was they care about the economy and they care about jobs. I don't think there's any reason to panic here. We have to get healthcare done, and then we have to turn our attention to the economy and jobs."

Some Dems in Congress realize the need for another stimulus, public works programs, and some bold job-creation strategies, but there is a mounting danger that any progressive innovations for job creation will be frustrated by Obama's coterie of Wall Street economic advisors and deficit-fixated Blue Dogs—many of whom come from districts wracked by high unemployment. (This of course suggests the importance of grassroots pressure at the local level by labor and the unemployed against Blue Dog policies.)

FULL story at link.

[Rosa Luxemburg]

1. The million dollar bonuses should be stopped ASAP

[kenny blankenship]

2. The most dangerous path ahead of us is if the right wing goes "economic populist" and paints Dems as

the party of the banks, catering to "shadowy elites" in Wall St. (Jooos) and foreign financiers. They look to be headed that way already. Probably the extremists in the Puke Party are hanging back a bit for 2010 and for a situation in which the unemployment figures belie the Obama Administration's predictions and depiction of an economy in recovery to launch a full takeover of the GOP. They need greater misery to take over with momentum (today Berlin, tomorrow the World) and if we aren't careful they'll get what they're looking for. Democrats, don't let the Republicans out-populist you from the right, or you'll make the whole world sorry.