Tuesday, July 26, 2011

Hostage Situation

Obama is in a difficult position. He wants to protect the essential programs many millions of middle class and working class households rely on, and wants to do so by removing the tax breaks enjoyed by the very rich, who pay much lower tax than everybody else. The Republicans are willing to crash the economy to protect the rich and are happy to gouge everybody else if they can. I am reminded of the National Lampoon cover from 1973: "If You Don't Buy This Magazine We'll Kill This Dog." The dog is us. The Republican goal is to nail down an economy like the one we are living through right now, one that doesn't work for anyone but the upper class.

It's a hostage situation. President Obama is trying to free 300 million hostages (the American people) from a set of ruthless well-armed and cold-blooded extortionists, which requires very careful negotiating. Problem is half of the hostages don't seem aware which side is holding them hostage and which side is trying to get them released unharmed.

Here's a pretty good analysis from my friend at Forbes.

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