Speaking at the NASDAQ Marketsite, Senator Barack Obama demonstrates that his grasp of economics is every bit as tenuous as his hold on foreign policy. Deepti Hajela has the story for the Associated Press:
"If we are honest, I think we must admit that those who have benefited from the new global marketplace -- and that includes almost everyone in this room -- have not always concerned themselves with the losers in this new economy," the Illinois senator said."The danger with this mentality isn't just that it offends our morals, it's that it endangers our markets," Obama said.
Huh? What "losers?" Oh, he must mean the Democratic constituencies who prefer government help to adapting to a changing world, eh? There's more . . .
But he also accused the Bush administration of approving mergers with little scrutiny and maintaining more than $1 trillion worth of corporate tax loopholes."This administration has accelerated these trends through its tax policies and spending priorities to the point where there is greater income inequality now than at any time since the Gilded Age," Obama said. He also compared the situation to the Great Depression, when Roosevelt challenged the cynicism by calling for faith in the United States and its institutions.
"We certainly do not face a test of the magnitude that Roosevelt's generation did, but we are tested still," Obama said.
"I am asking you to join me in ushering in a new era of mutual responsibility in America," he said. He said he believes Wall Street leaders want to be part of building a more just nation, but they haven't been asked before.
Read the whole story at the link above. Now, if we have "$1 trillion worth of corporate tax loopholes," is he saying he will close them? In other words, a $1 trillion tax increase on corporations? If not, why cast them as bad things?
What is the meaning of "mutual responsibility" in this context, anyway? Is it just another "god term" from Rhetoric class, or a socialist's way of saying, "We're gonna sock it to you, baby, and we hope you won't squawk too loudly"?
Well, at least he will appease the collectivists . . .



Comments (5)
in the real international e... (Below threshold)1. Posted by stephen fox | September 17, 2007 10:20 PM | Score: -2 (2 votes cast)
in the real international economic and politcal realm, there is a much larger scale confrontation with Bush from the candidates regarding the Iraq War and the problems it is continuing to cause, after six years of Halliburton and Brown and Root and Blackwater corporate kleptocracy. Only one candidate, it seems to me, is really slamming the truth and providing the logistics and rationale for ending this disastrous war: Bill Richardson. This article was printed in the Washington Post about 9 days ago, and please take the time to read it:
_______________________
Why We Should Exit Iraq Now
By Bill Richardson
Saturday, September 8, 2007; A15
Hillary Clinton, Barack Obama and John Edwards have suggested that there islittle difference among us on Iraq. This is not true: I am the only leading Democratic candidate committed to getting all our troops out and doing so quickly.
In the most recent debate, I asked the other candidates how many troops theywould leave in Iraq and for what purposes. I got no answers. The American people need answers. If we elect a president who thinks that troops should stay in Iraq for years, they will stay for years -- a tragic mistake.
Clinton, Obama and Edwards reflect the inside-the-Beltway thinking that acomplete withdrawal of all American forces somehow would be "irresponsible." On the contrary, the facts suggest that a rapid, complete withdrawal -- not a drawn-out, Vietnam-like process --would be the most responsible and effective course of action.
Those who think we need to keep troops in Iraq misunderstand the MiddleEast. I have met and negotiated successfully with many regional leaders,including Saddam Hussein. I am convinced that only a complete withdrawal can sufficiently shift the politics of Iraq and its neighbors to break the deadlock that has been killing so many people for so long.
Our troops have done everything they were asked to do with courage and professionalism, but they cannot win someone else's civil war. So long as American troops are in Iraq, reconciliation among Iraqi factions is postponed. Leaving forces there enables the Iraqis to delay taking the steps to end the violence. And it prevents us from using diplomacy to bring in other nations to help stabilize and rebuild the country.
The presence of American forces in Iraq weakens us in the war against al-Qaeda. It endows the anti-American propaganda of those who portray us as occupiers plundering Iraq's oil and repressing Muslims. The day we leave, this myth collapses, and the Iraqis will drive foreign jihadists out of their country. Our departure would also enable us to focus on defeating the terrorists who attacked us on Sept. 11, those headquartered along the Pakistan-Afghanistan border -- not in Iraq.
Logistically, it would be possible to withdraw in six to eight months. We moved as many as 240,000 troops into and out of Iraq through Kuwait in as little as a three-month period during major troop rotations. After the Persian Gulf War, we redeployed nearly a half-million troops in a few months. We could redeploy even faster if we negotiated with the Turks to open a route out through Turkey.
As our withdrawal begins, we will gain diplomatic leverage. Iraqis will start seeing us as brokers, not occupiers. Iraq's neighbors will face the reality that if they don't help with stabilization, they will face the consequences of Iraq's collapse -- including even greater refugee flows over their borders and possible war.
The United States can facilitate Iraqi reconciliation and regional cooperation by holding a conference similar to that which brought peace to Bosnia. We will need regional security negotiations among all of Iraq's neighbors and discussions of donations from wealthy nations -- including oil-rich Muslim countries -- to help rebuild Iraq. None of this can happen until we remove the biggest obstacle to diplomacy: the presence of U.S. forces in Iraq.
My plan is realistic because:
It is less risky. Leaving forces behind leaves them vulnerable. Would we need another surge to protect them?
It gets our troops out of the quagmire and strengthens us for our real challenges. It is foolish to think that 20,000 to 75,000 troops could bring peace to Iraq when 160,000 have not. We need to get our troops out of the crossfire in Iraq so that we can defeat the terrorists who attacked us on Sept. 11.
By hastening the peace process, the likelihood of prolonged bloodshed is reduced. President Richard Nixon withdrew U.S. forces slowly from Vietnam --with disastrous consequences. Over the seven years it took to get our troops out, 21,000 more Americans and perhaps a million Vietnamese, most of them civilians, died. All this death and destruction accomplished nothing -- the communists took over as soon as we left.
My position has been clear since I entered this race: Remove all the troopsand launch energetic diplomatic efforts in Iraq and internationally to bring stability. If Congress fails to end this war, I will remove all troops without delay, and without hesitation, beginning on my first day in office.
Let's stop pretending that all Democratic plans are similar. The American people deserve precise answers from anyone who would be commander in chief. How many troops would you leave in Iraq? For how long? To do what, exactly? And the media should be asking these questions of the candidates, rather than allowing them to continue saying, "We are against the war . . . but please don't read the small print."
The writer is governor of New Mexico and a candidate for the Democratic presidential nomination.
1. Posted by stephen fox | September 17, 2007 10:20 PM |
Score: -2 (2 votes cast)
Posted on September 17, 2007 22:20
2. Posted by Jim Addison | September 18, 2007 3:24 AM | Score: 0 (0 votes cast)
Normally I would delete the text and leave the link, but since this is an "op-ed" from a current Presidential candidate, it will be difficult for any publication to assert copyright privilege and claim reproducing the whole thing isn't a "fair use," so I'm letting this go.
Note that this is ONLY because it is written by an active candidate. Normally, a link and a snippet is all we permit.
2. Posted by Jim Addison | September 18, 2007 3:24 AM |
Score: 0 (0 votes cast)
Posted on September 18, 2007 03:24
3. Posted by kim | September 19, 2007 9:12 AM | Score: 0 (0 votes cast)
Totten on Anbar.
Hey mantis, when is Richardson going to get his head out of his ass?
======================
3. Posted by kim | September 19, 2007 9:12 AM |
Score: 0 (0 votes cast)
Posted on September 19, 2007 09:12
4. Posted by goodtimesVAN | September 22, 2007 2:02 AM | Score: 0 (0 votes cast)
Who are the losers in our NEW economy? Everyone who does not have major investments or millions in real estate. Honestly, to say that the only people left behind are part of the welfare state is why Republicans are losing ground. After enough years of falling wages, increasing tuition/health care/housing costs and not "getting ahead" with old fashioned hard work, people are realizing that a policy consisting only of tax cuts and deregulation (more profits for fewer people) is not worth punching a ballot for.
I bet most readers of this blog are doing well, but that doesn't mean the other 300 million plus Americans are.
4. Posted by goodtimesVAN | September 22, 2007 2:02 AM |
Score: 0 (0 votes cast)
Posted on September 22, 2007 02:02
5. Posted by Jim Addison | September 22, 2007 2:07 AM | Score: 0 (0 votes cast)
goodtimesVAN ~ What fantasy world are you living in?
Hmmm . . . personal income, median family income, real wages, after-tax income, disposable income, manufacturing output, GDP - all at all-time highs.
Yep, it's the New Depression all right - in the minds of the feckless and unproductive.
5. Posted by Jim Addison | September 22, 2007 2:07 AM |
Score: 0 (0 votes cast)
Posted on September 22, 2007 02:07