New French President: My Real Enemy is the World of Finance


Nation Of Change headlines the comment New French President: My Real Enemy is the World of Finance.


However the real meat of the interview by Democracy Now with William Black is Black’s answer:

And Obama needs to go back to what he originally proposed, which was brilliant. It was a Republican idea: revenue sharing. We all knew that the states and localities, unlike the federal government, cannot run significant deficits, and that there was going to be a financial holocaust that was going to reduce vital services and throw hundreds of thousands of public workers out of work when they were most needed and exacerbate the great recession and dramatically slow the recovery. So, the recovery bill that—the stimulus bill that President Obama proposed had that provision. The Blue Dog Democrats, the conservative Democrats, and the Republicans got together to kill that. And unfortunately, the Obama administration didn’t fight for it.

Here’s what we know. The Wall Street Journal just ran an op-ed saying, don’t allow the federal government to help the states. That tells you that’s what they’re scared of. It would be economically brilliant, it would be politically brilliant, to bring back the revenue sharing provisions, which are, after all, a Republican idea, and make the Republicans make the call that they want a financial holocaust throughout America, and they want us to slip back into a recession.


                                                                                

Leave a comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.