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Small Change: Obama's Betrayal
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Candidate
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| Contributor | kal |
| Last Edited | kal Feb 05, 2009 03:28am |
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| Category | Commentary |
| News Date | Thursday, February 5, 2009 09:00:00 AM UTC0:0 |
| Description | Just two weeks after his historic inauguration ceremony, Obama’s presidency is lurching towards failure, and not because three of his administration picks have been found to be tax cheats, but because nearly all of his administration picks are corporate whores and shills.
The problem with the new Obama administration is that it is turning out to be not about change at all, as he claimed during the campaign, but rather about more of the same—and these are not times that call for more of the same. Nor is more of the same the reason Obama won the election.
The economic team President Obama has put in place is composed of the same Wall Street hacks and conservative economic theologians who helped produce the current crisis, many of them as part of the Clinton administration, and some, like Timothy Geithner, actually as appointees of the thoroughly discredited Bush administration.
Obama’s military team is essentially composed of holdovers from the Bush administration, starting at the top with Defense Secretary Robert Gates, and retreads from the Clinton administration.
Little wonder that the president’s economic team is still talking about throwing more money at banks, with the only real tweak making this boondoggle different from the Bush administration’s fall bailout that there will be some limits established on executive pay. Banks will still be able to use their taxpayer bailout cash to buy other banks. And there will still be no way to force them to lend money. Little wonder too that there is no real effort aimed at propping up the struggling public—no job sweeping job creation programs (except for expanding the military), no major income supplements for the poor, no expansion of welfare benefits, no mandatory mortgage renegotiations or mortgage payment holidays. And so far, no real effort to pass labor law reform to protect workers who try to form labor unions.
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