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Friday, February 23, 2024

The corporate elite stands to win big in Obama’stimulus package

By Barry Grey

In what was described in the mainstream media as a grand kickoff of his campaign to win bipartisan support for hi stimulus package, president-elect Barack Obama delivered a major speech on Thursday—a speech filled with somber projections, dire economic forecast, vague promises to poorest Americans and tacit assurances to the corporate elite. While acknowledging for good reasons the root causes of our economic meltdown—“the infallibility of the market, the virtues of financial ‘risk-taking,’ the wizardry of Wall Street”— Barack Obama offers nothing but the same recipe of the republican trickle-down economic, betting on the hope that by investing billions of dollars in big projects aimed at rebuilding the infrastructure under the direct management of the corporate CEOs, millions of jobs would be created. However genuine and honest the president-elect wanted to be, to the exception of some denunciations of “irresponsibility” and “greed” designed to appease public outrage, Barack Obama either purposely or unknowingly failed to outline in specific terms the true genesis of the financial crisis or the social interests that are responsible for the unfolding disaster. As Barry Grey points it out in this article, “there was a glaring contrast between the historic dimensions of the crisis, as portrayed by Obama himself, and the banal explanation he provided of its roots.”

(The full article is listed below) 

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