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The Consequences of Republican 'Bizarro World' Validation
"Its the economy stupid."--Carville's famous line seems to be the basis for the collective shrug from Democratic leadership on their election drubbing, despite the fact that Republicans are just as unpopular to the electorate. Indeed, it may also have been the underlying rationale for leadership utterly failing to put together a national message on the massive accomplishments of the past congress, in addition to leadership's failure to demonstrate the successful efforts of turning the economy back into growth territory. With joblessness paramount, Democrats seemed resigned to take it on the chin. For Republicans the mid-term election has not only validated their obstruction, but also all the self contradictory BS they spouted during the campaign.
And with that validation they're gonna double down on the crazy. Witness this new media narrative which belie the facts.
Bloomberg News had this report this morning, but I feel like I've been seeing the similar reports for quite a while.
Investors around the world say President Barack Obama is bad for the bottom line, even though U.S. corporations are on track for the biggest earnings growth in 22 years and the stock market is headed for its best back-to-back annual gains since 2004.
That's certainly one of the classic sentences of the year. The Obama White House is bad for profits, according to those making lots of money in the Obama era.
Indeed, we learned just two weeks ago that corporate profits since Obama's inauguration that have risen faster "than during any other 18-month period since the 1920s." All told, profits have surged 62% from the start of 2009 to mid-2010, according to the Commerce Department. "That is faster than any other year and a half in the Fabulous '50s, the Go-Go '60s or the booms under Presidents Ronald Reagan and Bill Clinton."
This talking point is not surprising considering the forces that bought this election. Look for Republicans to parrot the point to get tax cuts for the rich. Because despite being back in record profit territory, the obscenely wealthy are going to continue to refuse to create jobs without them tax cuts. They're holding the economy hostage till they get 'em. Now that's some class warfare.
Its difficult to divine the mandate when the campaign message is totally at odds with facts. Locally, Idaho's Republican delegation immediately jettisoned all their campaign rhetoric of fiscal responsibility and lapsed into the same spending mode that gave us a deficit Democrats actually were able to lower. Risch and Crapo submitted earmarks for almost a billion dollars including some for Crapo's lobbyist daughter, not to mention the stimulus projects for which he took credit despite voting against it. Up is down and not an outraged teabagger anywhere.