Lloyd Green makes an interesting point:
How concerned is Obama by the bad news and the sequester cuts that on Friday he termed “dumb,” “unnecessary,” “arbitrary,” and “inexcusable”? Not very, one would think, since his own 2012 budget forecast projected the very cuts in discretionary spending that the president now abjures, and described them in glowing terms. As Columbia’s Jeffrey Sachs recently pointed out. “the level of spending for fiscal year 2013 under the sequestration will be nearly the same as Mr. Obama called for in the draft budget presented in mid-2012.” Indeed, the White House budget forecast boasted that it would “bring domestic discretionary spending to its lowest level as a share of the economy since the Eisenhower administration.”…….
Strip away Obama’s showmanship and scolding, and the president has done just fine in protecting the interests of the top 1 percent, especially among those who were his contributors and the right kind of 1 percenters.
Green’s overall assessment of Obama’s record on economics is pretty harsh. Looking at the numbers, it is hard to deny that Obama hasn’t governed for the 1%; The bank bailouts, the continued tax cuts for the rich, the cronyism etc etc have all continued basically unabated. But then it’s hard to see what he is supposed to do given Congress is even worse and won’t let the President make even the smallest of adjustments to protect vulnerable Americans. Sure Obama isn’t great, but it’s hard to see how it would be possible to make any real changes in the current political climate.
Ben Cohen is the editor and founder of The Daily Banter. He lives in Washington DC where he does podcasts, teaches Martial Arts, and tries to be a good father. He would be extremely disturbed if you took him too seriously.