Gentry liberalism, so hot just a year ago, is now in full retreat, a victim of its hypocrisy and fundamental contradictions. Its collapse threatens the coherence of President Barack Obama's message as he prepares for his State of the Union speech on Wednesday. read more »
America's population growth makes it a notable outlier among the advanced industrialized countries. The country boasts a fertility rate 50% higher than that of Russia, Germany or Japan and well above that of China, Italy, Singapore, North Korea and virtually all of eastern Europe. Add to that the even greater impact of continued large-scale immigration to America from around the world. By the year 2050, the U.S. population will swell by roughly 100 million, and the country's demographic vitality will drive its economic resilience in the coming decades. read more »
By all historical logic and tradition, Wall Street’s outrageous bonuses—almost $20 billion to Goldman Sachs alone—should be setting a populist wildfire across the precincts of the Democratic Party. Yet right now, the Democrats in both the White House and Congress seem content to confront such outrageous fortune with little more than hearings and mild legislative remedies—like a proposed new bank tax, which, over the next decade, seeks to collect $90 to $100 billion. This amounts, on an annual basis, to about half of this year’s bonus for Goldman’s gold diggers alone. read more »
Looking back at President Obama’s first year in office, this much is clear: Obama first enraged the right wing by seeming to veer far left, then turned off the left by seeming to abandon them. Even as Fox News fundamentalists rail against “socialism,” self-styled progressives like Naomi Klein scream about a “blown” opportunity to lead the nation from the swamp of darkest capitalism.
Both right- and left-wing critics fail to consider the fundamental nature of the Obama regime. This presidency represents not a traditional ideology but a new politics that mirrors the rise of a new, and potentially hegemonic class, one for which Obama is a near-perfect representative. read more »
The financial crisis of 2008 paved the way for the employment crisis of 2009, which has now paved the way for the upcoming public finance crisis of 2010. Most federal, state and municipal budgets are strained to the breaking point while the economy still has not found its footing. Meanwhile our national politics is obsessed with expensive overhauls of environmental policy and healthcare reform. Our latest policy strategy is an attempt to borrow and spend our way to prosperity, ala Japan of the past twenty years. read more »
If the U.S. were a stock, it would be trading at historic lows. The budget deficit is out of control, the economy is anemic and the political system is controlled by academic ideologues and Chicago hacks. Opposing them is a force largely comprised of know-nothings--to call them Neanderthals would be too complimentary.
Not surprisingly, many Americans have become pessimistic. Two in three adults now fear their children will be worse off than they are. Nearly 40% think China will become the world's dominant power in the next 20 years, as indicated by a recent survey. read more »
A Reuters article that was widely picked up around the globe recently raised the question, Are Doctors What Ails US Healthcare? Comparing the New York suburb of White Plains to Bakersfield, California, the article uses the evergreen two-Americas paradigm to discuss disparities in health care. read more »
Does the United States finally have its first European President in Barack Obama? Does he truly want to Europeanise the American health system and impose European-style socialism on the US? RealClearPolitics.com assures us that ‘his policies on government spending, taxation, health care and carbon emissions would all tend to bring America in line with European norms.’
It is a powerful message – or it would be were the US not already in line with European norms in nearly every way that matters. In terms of social welfare expenditure, working hours, socialized health and even military spending, the US slips snugly in place among its European counterparts. read more »
This month’s off year elections sent one message to Washington that has been heard loud and clear. Voters expect Congress to focus on the economy, especially employment, and take decisive and affirmative steps to deal with both the causes and ravages of the greatest economic downturn in the U.S. since the Great Depression. As the Obama administration considers a variety of new proposals to help bring down the unemployment rate, one key constituency is raising its voice and asking for a return on the investment it made in his presidency.
Members of the Millennial generation, born between 1982-2003, who were eligible to vote in 2008 went for Barack Obama over John McCain by a 2:1 margin and made up over 80% of the President’s winning margin. read more »
A good friend of mine, a Democratic mayor here in California, describes the Obama administration as "Moveon.org run by the Chicago machine." This combination may have been good enough to beat John McCain in 2008, but it is proving a damned poor way to run a country or build a strong, effective political majority. And while the president's charismatic talent – and the lack of such among his opposition – may keep him in office, it will be largely as a kind of permanent lame duck unable to make any of the transformative changes he promised as a candidate. read more »