Sunday, November 15, 2009
The Second Reagan Revolution (Part 3)
The critical aspect of Obama's intention to become a deficit hawk, signalled before he entered the White House, when he emphasized the importance of entitlement reform, is, as recognized by Gaius, the generational restructuring of the federal budget further away from social services and even more weighted towards the military industrial complex, financed by a system of increasingly regressive taxation. Such a restructuring is consistent with what is transpiring in the economy, with massive job losses and small business closures. Both the government and the economy are being reorganized to the benefit of a narrow capital class of large corporate enterprises. If it requires trillions of dollars of unprecented subsidy one year, and deficit reduction the next, so be it. In other words, policies are as changeable as the wind as long as they remain consistent with the ultimate goal, the concentration of power within a small global elite.