Obama is back giving Centrism a bad name. His budget proposal has drawn criticism because it incorporates a mechanism for reducing Social Security Cost-of-Living benefits called the “chained CPI”, which ties those adjustments to the inflation rate. Obama’s inclusion of the chained CPI has drawn harsh criticism from Progressives as well as the Liberal base of the Democratic Party. Although the President and his sycophants characterize this proposal as an example of “Centrist” politics, it is actually an example of the economic neoliberalism which the Disappointer-in-Chief has advanced since taking office in 2009.
Despite its liberal slant, the FiredogLake blog has been critical of Obama since the beginning of his first term. A recent article by Jon Walker at FDL presents an unvarnished look at Obama’s motives for including the chained CPI in his budget:
Obama didn’t put chained-CPI in for Republicans, regardless what he may claim. While Republicans like to talk a big game on entitlements they have shown no real interest in cutting benefits for current retirees, who are the most important part of their base.
The comments to Walker’s piece give us a look at how a good number of liberals are finally seeing through the man who was advertised as an agent of Hope and Change. I was particularly impressed by the following comment from a reader identified as “coloradoblue”:
Crimes against humanity
Crimes against the American people
Crimes against the constitution he swore to uphold
Failure to investigate, prosecute and punish the war criminals of the last administration
Failure to investigate, prosecute and punish the crimes of wall street
Destroyer of the legacy of FDR and LBJ and the dem party
Hell of legacy you’ve got there Barry. Hell of a legacy.
Lest I repeat the entire batch of comments, I’ll include just one more. Reading through them provides one with the opportunity to understand the extent of disappointment in Obama, as expressed by those who voted for him. This comment was from an individual using the name, “BearCountry”:
o was never really the “capitulator in chief.” He has worked to destroy the safety net since he became pres. When I voted for him in ’08 I knew he was not going to be a savior for the nation, but I didn’t realize how bad he would be. He is worse than w because he knows full well what he is doing. Those that defend him or blame the repugs are simply deluding themselves.
Progressive Democrats chose Obama over Hillary Clinton because they wanted to avoid electing a President who would advance the same neoliberalism we saw from Bill Clinton, the man who signed the Commodity Futures Modernization Act of 2000 into law. Bill Clinton’s enactment of that legislation completely deregulated derivatives trading, eventually giving rise to such “financial weapons of mass destruction” as naked credit default swaps, which brought us the 2008 financial crisis.
When Hillary begins her run for the 2016 Democratic Nomination, it will be interesting to see whether any of her opponents exploit the photo of Bubba and Blankfein in Boca. On February 19 of 2012, The Business Insider published this photo of Bill Clinton having lunch with Goldman Sachs CEO, Lloyd Blankfein at the Boca Raton Resort and Country Club. Obama’s function as a tool of the Wall Street megabanks will provide an ongoing reminder to anyone entertaining the thought of supporting Hillary, as to what they could expect from another Clinton administration.
Meanwhile Barry O. Tool is gonna’ have some ’splianin’ to do about his chained CPI proposal. His angry former supporters will want some answers.