They Just Don't Get It

The bargain struck by Obama and the Republicans averted a financial market disaster but at a price to the nation's well-being. 

Once again the compromiser-in-chief was outmaneuvered by the right wing and came away with nothing other than a debt ceiling increase that will keep the country running through the 2012 elections.  Good for Obama and the Republicans.   Good for the wealthy and corporations. 

Not good for the working class, the middle class, seniors, the unemployed, women and children who will be asked to shoulder the burden of the deficit reduction. 

Not good for the economy as Obama will have no ability to grow jobs by public works programs.  Not good for the economy because the totally discredited supply-side economics which haven't worked in 30 years continue not to work:  manufacturing level is now at its lowest level in two years and the Dow is down 46 points as I write this.  Basically the manufacturing data trumped the debt agreement.

It didn't have to be this way.  Obama could have invoked the 14th amendment and gotten a "clean" debt ceiling increase - just has been done for the past four decades.  Or he could have taken the trickle-down theorists to task - why not raise the income taxes on the wealthy and corporations and then provide income tax credits and payroll tax holidays to those who actually create jobs in the USA?  If trickle down/ supply side economics works then surely they should have no objection.  In the meantime we could use the increased tax revenues to provide more to those in our country who really need it and stop the continuing redistribution of national income to the wealthiest.  Half of our income goes to the wealthiest 10 percent.  Believe me - they can afford the increased taxes and still not go "mansionless".