"The
initial spark for the Tea Party movement was provided by an angry outburst from
a TV stock market correspondent who complained during a live broadcast about
the aid program for homeowners. In the correspondent's opinion, the assistance
program just rewarded 'losers' for their bad decisions. … Republicans must now
decide to what extent they will listen to such simplistic considerations."
There are two hot button
issues at work in any U.S. election campaign. One is the demand for more jobs -
a demand encapsulated by former President Clinton with the slogan “It’s the
economy, stupid!” The other is the warning against “big government” - a bloated
state apparatus that virtually throws money out the window.
This time, both issues worked
particularly well for Republicans. After all, President Barack Obama and his
Democrats put in place economic stimulus packages worth billions of dollars to
stimulate the faltering economy. They even went so far as to nationalize former
flagship companies like General Motors. And yet, almost one in ten Americans is
unemployed. Thanks to the anger generated by this mess, Republicans have won
back the House of Representatives. The future speaker of the House, John
Boehner, has already informed Obama that more jobs and less public spending are
the top priorities of his constituents. However, meeting both demands at once
will be impossible.
Posted
by WORLDMEETS.US
The U.S. suffers from a
persistent weakness in domestic consumption. This was exacerbated by the fact
that government assistance to the unemployed and homeowners threatened with
foreclosure hasn't been further extended.
This corresponds precisely
with the beliefs of the conservative Tea Party, which has established itself
with this election as a new wing of the Republican Party. The initial spark for
the protest movement was provided by an angry outburst on the part of a TV
stock market correspondent who complained vociferously during a live broadcast
about the aid program for homeowners. In the correspondent’s opinion, the
assistance program just rewarded “losers” for their bad decisions.
The Republicans must now
decide to what extent they will listen to such simplistic considerations. If
they opt for a total blockade, they may soon be in the hot seat themselves … as
the cause of the next downturn.
But there might be another
way, since after this defeat Obama can no longer avoid compromise. One might be
to stimulate the U.S. economy with more infrastructure spending. Such expenditures
would directly benefit businesses, and for Republicans, this would be less
ideologically suspect than social spending.
Posted
by WORLDMEETS.US
During the election, it
became apparent how full of mines this terrain really is. Since Chinese industries
also benefit from renewable energy subsidies, many Democrats were actually
criticized in televised campaign ads by Republicans for representing Chinese
interests. Meanwhile, Democrats attempted to denigrate Republicans by
criticizing them for accepting campaign funds from foreign companies - which is
a perfectly normal practice in the U.S. system.
It is to be hoped, not only
for the United States but for its trading partners that the protectionist tone
as well as extreme opposition to government intervention will diminish after
the election. The fact that the most radical of the Tea Party candidates lost
might encourage Republicans and Democrats to move in this direction.
