Economic Confidence Craters As Shutdown, Income Stagnation, and Poverty Roil Americans
By: DSWright, Firedog Lake
Tuesday October 8, 2013 10:32 am
We are now in day 8 of the federal shutdown and it seems Americans are rapidly losing faith that the powers that be can turn the economy around. Confidence in the economy has deteriorated more in the past week than in any week since Lehman Brothers collapsed on Sept. 15, 2008.
And why not? Is there any evidence the economy is turning around for the vast majority/99% of Americans? No.
If anything the shutdown has jarred people awake to the fact that poverty and income stagnation remain at record levels. If things remain as they are we will continue to have massive inequality and little hope of social mobility. The economy is broken for most Americans which even the New York Times is recognizing as seniors are now falling back into poverty.
To recap the state of affairs – the government is shutdown and the economy is rigged for the rich. Now tell me the Koch Brothers lost the 2012 election, seriously, I need a laugh.
As Citigroup proved long ago, an economy run for the benefit of the rich or “plutonomy” is economically sustainable. But is it politically sustainable? Are the vast majority of Americans going to accept slavery and poverty from plutocrats and their extremist attack dogs in Congress?
Kathleen Sebelius’ Incoherent Defense of Obamacare’s Design on The Daily Show
By: Jon Walker, Firedog Lake
Tuesday October 8, 2013 10:03 am
When pressed on the Daily Show why Democrats went with a Rube Goldberg health care plan instead of single-payer, HHS Secretary Kathleen Sebelius’ incoherent defense was that tje Republicans called even this “market based” plan super socialism.
Sebelius sarcastically responded to Stewart’s question about single-payer by saying, “As you know we are facing the end of Western Civilization by having a market based strategy. We are bringing Western Civilization to its knees by selling private insurance plans on a website where people pick and choose.”
I have heard this same basic argument made by several defenders of Obamacare. The point is “look at how badly Republicans flipped out over this conservative law, so imagine how bad they would have flipped out over single-payer.” The problem is this argument makes no sense because, as Sebelius points out, the Republicans already turned their freakout dial to 11. They can’t going any higher. There is nothing worse than the end of “Western Civilization.”
This is not an argument against going to single-player, this is an argument for why you should have gone for single-payer. If the Republicans are going to completely freak out regardless, there is no reason to compromise. The political response from the GOP will be the same.
This highlights why the Democrats are having such a hard time selling the law. Early on they chose to go with bad design to buy off the big industry lobbyists, but they planned to blame the bad design on needing to get Republican votes for a great compromise. When Republican refused to play along it left Democrats holding the bag. Democrats had pro-lobbyists laws, but they don’t want to publicly say they made the law needlessly complex to make lobbyists happy. So the administration is still trying to use the original excuse they planned – even though it now doesn’t make sense.