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What if Obama Prioritizes Bondholders Over Workers? » New Deal 2.0

by on December 4, 2010

Obama’s federal pay freeze may not be a blunder but a deliberate move to align himself with the banks.

In case you haven’t seen it, Brian Buetler has a roundup of reactions to President Obama’s two-year federal pay freeze. Ezra Klein has three ways of looking at the freeze, which are not mutually exclusive: 1) This is more unwise, unilateral bipartisanship, 2) This is a smart way to protect the federal workforce, 3) This is bad economics and bad policy.

I think we should discuss a fourth option: President Obama thinks this is a really good idea and wants to spend political capital and energy to carry it out.  Rather than a piece of strategy to force concessions from the other side, this is instead something he wants his administration associated with and wants to take the lead in making a reality.  He’s asking for the middle class to suffer first, before bankers and before the richest, without asking for anything in return.

First drive down middle class incomes, then claim fed workers are being paid too much, and keep driving at getting cash out of the middle any way you can.

The key finding in my mind is that Obama is smart enough to lead a vigorous investment/ green climate oriented agenda, but since he is not, we need to question his motives.What kind o country needs banks more than skilled workers? One that is using money outside the country, not in.

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