Tag Archives: bill clinton

The New Populism Needs to Get This Straight

By Joe Firestone

Let’s look again at the new populism through the lens provided by Robert Borosage in his recent attempt to tell us what it is about. He says:

The apostles of the new inequality have unrelenting sought to starve the public sector. President Reagan opened the offensive against domestic investments. Perhaps the hinge moment was in the final years of the Clinton administration when the budget went into surplus, and Clinton, the finest public educator of his time, pushed for paying down the national debt rather than making the case for public investment. He left the field open for George W. Bush to give the projected surpluses away in tax cuts skewed to the top end.

The hinge moment wasn’t then. It was when he decided, either early in his first term, or even before he took office, to rely on deficit reduction coupled with low interest rates from Alan Greenspan, on the advice of Robert Rubin and Larry Summers, rather than on deficit spending on human capital investments as advocated by Robert Eisner and Robert Reich. Rubin’s victory in the internal debates within the Administration was well-known at the time (1993), and set the deficit reduction course that played along with the Fed’s bubbles to create the private sector debt-fueled “goldilocks” prosperity, and surpluses of his second term. By the time Clinton faced the choice Borosage refers to, the die had already been cast. It was very unlikely that Clinton would turn away from further Government austerity policy, and turn instead toward investments in infrastructure, public facilities and “human capital.”

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Populist Revolution? How a Bold New Voter Coalition Can Reshape the Nation

By Marshall Auerback
Cross-Posted from AlterNet.org

Minorities, independent women, gays, working-class white voters, and younger people overcame through high turnout a fierce social conservative block.

Photo Credit: Shutterstock.com

Tuesday’s election will be regarded as a pivotal one in US history. For 30 years the top 1 percent has manipulated the masses to vote against their own interests. It was able to do that because the feelings of the white middle and lower classes about social issues overwhelmed their economic considerations.

But something interesting happened this year: high levels of minority and young voter turnout, together with an increased Obama-tilt among all voters earning less than $50,000 a year, routed the GOP. In one sense, the election represents the triumph of the Reverend Jesse Jackson and his “Rainbow Coalition.” The Reverend Jackson was the first serious challenge of a black man for the presidency, and with his Rainbow Coalition, he ran for the Democratic nomination in 1984 and in 1988, with a platform that represented an anthology of progressive ideas from the 1960s. He attracted a large number of supporters, many of them from the white working-class. Each time his movement looked like it was gaining electoral traction, the Democratic Party establishment would invariably mobilize against him and elect feeble white liberals – Mondale and Dukakis – who plummeted to defeat by Reagan and George Bush Sr. Continue reading