That’s the trickle down economy he’s talking about. And when he said, “spectacularly well,” that understated the great fortune of the very few. Oxfam, the international federation working to end poverty, reported just before the speech that if nothing changes over the next two years, the top 1 percent will hoard more wealth than that held by the entire remaining 99 percent of humans on earth.
President Obama made it clear he has no intention of accepting such economic damnation for the vast majority of Americans. He proposed an alternative to Ronnie’s scheme. President Obama called it middle class economics. Though its intent is to create opportunity, prosperity and security for the working poor and middle class, it’ll be a hard sell. That’s because Americans have been force fed that voodoo, greed-is-good, grovel-before-the-rich financial philosophy for so very long.
Writer, Host, "The Breakdown;" Senior Fellow, Campaign for America's Future
Today’s American right is burdened with a highly specialized and hyper-amplified sense of outrage. That outrage was triggered during this week’s State of the Union speech, especially by the president’s off-the-cuff response to a group of Republicans who sarcastically applauded the line, “I have no more campaigns to run.”
“I know,” the President replied, “because I won both of them.”
Cue the indignation. A conservative named Ben Shapiro, whose tweet was reproduced in Heritage’s Daily Signal, offered a typically huffy reaction. “What a classy guy,” snipped Shapiro (who presumably feels that interrupting the President of the United States with sarcastic applause is “classy”).
The Sierra Club, the Natural Resources Defense Council, the League of Conservation Voters and 41 other environmental groups sent a letter to Congress this week, asking them to oppose “fast track” trade promotion authority for upcoming trade agreements like the Trans-Pacific Partnership (TPP). They asked Congress to instead set up an open, transparent trade negotiating system that gives stakeholders, other than just corporate representatives, input in the process.
The letter begins, “As leading U.S. environmental and science organizations, we write to express our strong opposition to ‘fast track’ trade promotion authority, and to urge you to oppose any legislation that would limit the ability of Congress to ensure that trade pacts deliver benefits for communities, workers, public health, and the environment.”
Background On Fast Track, TPP
Currently, trade negotiations are conducted in secret. Corporate representatives are part of the process, and the negotiators come from or expect to go into the corporate world. Stakeholders like environmental, consumer, labor, democracy, human rights, and other groups are excluded from the process.
Legislators in the new Congress haven’t even cut the curtains for their offices, but it is already clear that the right has no clue and the “center” offers no hope.
Republican Mitch McConnell, newly installed as Senate majority leader, announced that his goal is not to be “scary.” House Speaker John Boehner declared his troops had to prove Republicans can “govern.” But Republicans are already tripping over those low bars. They stuffed the legislative docket with “message” bills to repeal Obamacare, rollback immigration reforms, and cripple agencies that protect the environment (Environmental Protection Agency), consumers (Consumer Financial Protection Bureau), workers (the Labor Department) and taxpayers (cutting the IRS ability to police tax dodgers). They’ve already proved adept at backroom maneuvers to tuck Wall Street favors in “must-pass” legislation.
On January 24, 1950 the minimum wage in the United States was raised to 75 cents an hour. This move nearly doubled the minimum wage, from the previous level of 40 cents. 22 million people were eligible for this wage increase. In his statement on the change President Harry Truman declared, “It is a measure dictated by social justice. It adds to our economic strength. It is founded on the belief that full human dignity requires at least a minimum level of economic sufficiency and security.”