- The criminal class in Washington is bipartisan, united
against working household interests. In fact, lawmakers yield on virtually
everything big money wants, notably when banks and other corporate favorites
- Last December, Obama capitulated to Republicans, rigging
a deal for up to $1 trillion dollars in handouts, mostly to corporate giants
and America's wealthy with working households almost entirely left out.
- They still are, enduring a protracted Main Street depression,
stiff-armed by Obama-led bipartisan crooks. In fact, he's more crime boss
than president - stealing from the many for the few. More on his dirty
- As a result, America and other "(e)conomies are
being turned into rentier ('tollbooths') to pay debts that ('real' ones)
can't sustain," according to Michael Hudson. "It's a losing game,"
but goes on, criminally defrauding millions of people to assure creditors
are paid, sucking massive amounts of wealth to their coffers, unreported
by major media scoundrels, suppressing what people most need to know.
- In fact, new audit figures show that Bernanke's Fed gave
Wall Street and European banksters at least $16.1 trillion (called emergency
loans) from December 1, 2007 - July 21, 2010, besides unknown amounts earlier
and in the past year.
- Moreover, it's well known that trillions of dollars are
stolen, handed to corporate interests and never returned, as well as gotten
in other illegal ways. As a result, taxpayers get stuck with the bill,
the nation with unsustainable mounting debt, heading it eventually for
- About $13 trillion in Fed bailouts went to US financial
institutions, the rest to their counterparts in Britain, Germany, France,
Switzerland, and Belgium, according to a Government Accountability Office
- In addition, asset swaps (good ones for toxic corporate
junk) were arranged with banks in Britain, Switzerland, Canada, South Korea,
Norway, Mexico, and Singapore.
- Moreover, the Wall Street controlled Fed mostly outsourced
its lending operations to the same institutions responsible for engineering
the financial crisis, letting them profit hugely at the public's expense.
- Though unsustainable, the dirty game goes on, a take
the money and run scam, leaving hollowed out economies and impoverished
millions on their own sink or swim.
- In dirty back room deals, Obama's out in front arranging
it, doing what no Republican leader would dare. No wonder Hudson accused
him of governing to the right of George Bush, Sarah Palin and Michele Bachmann
- America's right-wing lunatic fringe.
- Notably, only Republican Nixon could go to China when
America had no diplomatic relations. Only Democrat Obama dares ending America's
decades-long social contract, especially Social Security, Medicare, Medicaid,
and publicly funded pensions.
- Hudson agrees, saying "(o)nly a Democrat posing
as a left-winger could really pull off what (he's) proposing," pretending
it's to sustain programs otherwise heading for insolvency.
- In fact, pay-as-you-go payroll tax deductions sustain
Social Security and Medicare, and will keep doing it if properly administered,
needing only occasional modest adjustments.
- Most workers, in part, fund public pensions, and Medicaid
provides mandated safety net care for poor beneficiaries, jointly funded
by the states and Washington, managed at the state level.
- Moreover, Social Security and Medicare are insurance
programs - contractual federal obligations to eligible recipients who qualify.
In fact, they're no different from other legal arrangements between willing
- However, unilaterally abrogating them will strip all
Americans of fundamental safety net protections without which millions
will become impoverished and desperate.
- America's aristocracy chose Obama to do it, and who better
than the first Black president, masquerading as a populist, still fooling
half the country to think he represents them.
- In fact, his disdain for ordinary people is palpable
in plain sight and scandalous, once his disingenuous rhetoric is exposed
as duplicitous. His policies in the past two and half years show it.
- Previous yearend articles (each in two parts) explained
how much harm he caused in years one and two in office, accessed through
the following links:
- Given his overall agenda, his legacy already exposes
him as America's worst president. It's no easy achievement given some formidable
competition, notably from his predecessor, a corporate stooge/war criminal
Obama shamelessly managed to outdo, besides perhaps setting back race relations
a century or more.
- A July 15 article discussed the current debt ceiling
debate charade, accessed through the following link:
- It suggested the fix is in, the deal done to slash vital
entitlements and other social spending, while leaving in place outsized
military budgets and generous handouts to corporate America, including
new tax cuts and loopholes letting them save billions of dollars.
- On July 21, New York Times writers Carl Hulse and Jackie
Calmes headlined, "Boehner and Obama Nearing Deal on Cuts and Taxes,"
- A "sweeping deficit-reduction agreement" is
nearly completed, "calling for as much as $3 trillion in savings from
substantial (social) spending cuts and" alleged tax code changes,
benefitting business and wealthy Americans at the public's expense.
- So far details are being withheld, and White House press
secretary Jay Carney denied any deal is close. He lied. It was agreed weeks
ago, leaving only final details to be worked out.
- Negotiated by "Gang of Six" kleptocrats (three
Democrat and three Republican senators), a "grand deal" minimally
cuts $4 trillion (mostly entitlements), adding tax cuts and other corporate
sweeteners in return for raising the debt ceiling.
- Public posturing is all theater, no substance, to conceal
a deal with the devil plan to wreck social America and devastate the economy,
assuring a deepening Main Street depression, including permanent impoverishment
for millions of former middle class earners.
- Part of the subterfuge involves deceptive House/Senate
theatrics. On July 19, the House passed the Cut, Cap, and Balance Act of
2011, calling for up to $6 trillion in cuts and a constitutional balanced
budget amendment in return for raising the debt ceiling by $2.4 trillion.
- It's barely enough to sustain annual spending at current
levels, meaning more cuts would be demanded to raise it further, and so
on to keep slashing additional trillions from vital social programs until
all of them are extinguished and ended. That's planned anyway whatever
deal is announced.
- On July 22, the Senate rejected the House proposal, paving
the way for the secretly agreed on Obama/Speaker Boehner scheme to be adopted.
- Besides criminally waging multiple imperial wars, that's
Obama's legacy. Progressive historians and analysts one day will wonder
how he and other irresponsible officials defrauded the public and got away
with it. It's happening now in plain sight.
- In his new article, Paul Craig Roberts headlined, "An
Economy Destroyed: The Enemy Is Washington," saying:
- "Washington's priorities and those of its presstitutes
could not be clearer. President Obama, like George W. Bush before him,
both parties in Congress, the print and TV media, and National Public Radio
(dubbed National Pentagon or Petroleum Radio) have made it clear that (imperial)
war(s are) far more important priorit(ies) than health care and old age
pensions for Americans."
- In fact, power-hungry, greed-driven Obama-led government
and corporate scoundrels want working Americans' wealth, homes, jobs, health,
welfare, and futures stolen to benefit themselves at their expense.
- It means $4 trillion is only for starters. Expect trillions
more ahead until virtually all personal and public wealth is in elitist
- Moreover, whatever amount of deficit reduction is agreed
on (allegedly over the next decade), America's national debt will keep
growing. As a result, years from now it'll be greater than ever. It's one
of many dirty secrets politicians and media liars won't explain or even
touch. Instead they pretend social America is being destroyed to save it
by preventing insolvency.
- It's one of many Big Lies, showing government abrogated
the Constitution's "general welfare" clause - Article I, Section
- "The Congress shall have power to....provide for
(the) general welfare of the United States," meaning all its citizens.
Moreover, the Preamble's opening words are "We the People."
- They never, in fact, meant everyone, just America's special
few, notably since the 1980s, now more than ever in modern times under
Obama. Unless public anger derails them, Washington's criminal cabal will
transform America into a wasteland, its working class into serfs.
- Is it worth just watching from the sidelines, or will
reality stir popular outrage to act. It's the only way constructive change
ever comes. It's never from the top down, given corrupt politicians put
in office to serve their elitist masters - America's aristocracy wanting
it all for themselves. So far, in fact, they're well on the way to getting
- Stephen Lendman lives in Chicago and can be reached at
- Also visit his blog site at sjlendman.blogspot.com and
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