Corporate power’s ascendancy over politics and society—by now mostly financial—has reached the point that both political organizations, which at this stage barely resemble traditional parties, are far to the right of the population on the major issues under debate.
For the public, the primary domestic concern is unemployment. Under current circumstances, that crisis can be overcome only by a significant government stimulus, well beyond the recent one, which barely matched decline in state and local spending—though even that limited initiative probably saved millions of jobs.
For financial institutions the primary concern is the deficit. Therefore, only the deficit is under discussion. A large majority of the population favor addressing the deficit by taxing the very rich 72 percent, 27 percent opposed, reports a Washington Post-ABC News poll. Cutting health programs is opposed by overwhelming majorities 69 percent Medicaid, 78 percent Medicare. The likely outcome is therefore the opposite.
Read more here: America In Decline — In These Times.