Mark Schmitt argues that the center-right "Taking Back Our Fiscal Future" document discussed yesterday is the Stuart Butler's Leninist Strategy (PDF) for destroying Social Security in a new Popular Front phase.
Certainly the "centrist" elements of this team seem to be making a good run at being useful idiots. Why, if you're interested in balanced budgets, would you team up with folks like Butler who supported Bush's budget-busting tax cuts. The "balanced budgets are the most important thing in the world when Democrats are in power, but don't matter at all when there's a Republican President worldview" has a certain logic to it, but it's not one anyone who claims to be any sort of progressive ought to embrace.
Photo by Flickr user wordcat used under a Creative Commons license



"balanced budgets are the most important thing in the world when Democrats are in power, but don't matter at all when there's a Republican President worldview"
There is a certain logic to this worldview. It only really makes sense if you're a really rich investor, but in that context it really does make sense. I have a friend who is a professional investor and fabulously wealthy. His attitude is this: "I make money when the market goes up and when it goes down, it's when markets aren't moving that I can't make money." He doesn't really care at all about the health of our economy because someone's economy is always doing well and he can invest there. He recognizes the importance of fiscal responsibility for our economy, but he's a global trader, so it doesn't matter to him. But when the Republicans are in power, they lower his taxes, so he gets more money. And so what if it destroys our economy? That's not where his money is, anyway. In fact, it helps him because his liabilities are measured in US dollars while his assets are measured in more valuable currencies. He does have a heart, however, and votes Democrat. He does so because he can make even more money under Democratic rule, but he has to pay more taxes. So it's pretty much a wash for him. Except that he recognizes that it's actually in his Karmic interest to not hurt people. So he's a Democrat. But he'll make money whoever is elected. He always has.
Posted by fostert | July 10, 2008 7:01 PM