Job One for America
As America faces its worst run of job losses since the Great Depression with no end in sight, one thing should be clear. Our federal government is being run by a coalition of the financial sector, lobbyists for entrenched interests and a disciplined Republican opposition of dubious loyalty. Barack Obama is not only very close to being a failed president, he could be on track to be a one-termer if the GOP snags an opponent such as Gen. David Petraeus or even a rehabbed Mitt Romney. (The Nobel will only hurt Obama without substantive achievements for average Americans).
Perhaps the problem is centered on Obama and the cowardly Democrats in Congress (Memo to Blue Dogs: You'll lose anyway, so do the right thing and maybe you can pull a Harry Truman; oh, wait, Truman wasn't getting millions from the moneyed interests and hoping to get a job with them after politics). Could Hillary have done better? Or is this just the latest evidence of a quiet coup and no individual can change America's trajectory to self-immolation. Read Jeff Sharlet's The Family and David Wessel's In Fed We Trust (and throw in Maggie Mahar's Money Driven Medicine) and you begin to see the financialized theocracy we have become. One facing unsustainability on every front, including in a military whose quiet evangelization by the Christian right should raise alarms never before heard in America (were it covered by the media).
As for unemployment, the best Washington can do is become aroused over a tax credit for job creation. This won't work — it's not tied to real demand. And it will lower tax revenues, adding to the deficit. It's a stunning sign of America's enervation and institutional corruption that President Obama is not rolling out a crash program to modernize our rail system. It could be done now. It would create huge numbers of jobs, not only for construction but also for operating and maintenance. Real jobs that would last. And an infrastructure whose benefits would repay the Treasury many times over.
2