It is laughable to see ads on my TV with Bill Clinton advocating for the re-election of Barack Obama. His assertion that President Obama's plan for reviving the middle-class is superior to Mitt Romney's is just absurd. The middle-class has suffered more since the inauguration of Obama than ever before. The rich may not "as rich" as they once were, but they'll be fine. The poor have been helped by this President in so far as more "safety net" money has been spent than in any time in the history of the world. The ranks of the poor have swelled precisely because the middle-class is dwindling.
It has been estimated that the middle class has lost 39% of it's wealth since 2008. Median household income has declined by a whopping 7.3% since Obama became President. We have become poorer as a nation faster than any time in memory. The poverty rate is likely to soar from the current 15.1% to as high as 15.7%. Poverty is spreading at record levels across the nation, from underemployed workers and once self sufficient suburban families to the poorest of the poor.
For Bill Clinton to sit there and tell us that Obama has a better plan is ludicrous - where is it!!!
There is no plan to revive the middle-class. If there were why would the administration not have started working on that instead of starting the re-election campaign in Nov 2010 just days after the mid-terms. He has been auditioning for a job he already has instead of doing the damn job.
The structural troubles this country is in will not be solved by kicking the remaining stilts out from under it. The weak dollar policy pursued by Bush and Obama in some mistaken notion that it will (ultimately) help exports is offset by a decline in purchasing power and inflation. The bullshit that inflation is low is just that, bullshit. Tell that to every family who uses a supermarket or fills the tank with gas. You can argue "but an IPad is hundreds of dollars cheaper this year than last" until you're blue in the face, that doesn't fill bellies or gas tanks. Prices for the very basics have skyrocketed at a time when wages and jobs themselves are in decline.
Add super low interest rates held down to help government preserve a modicum of solvency by keeping debt payments lower and you end up ushering just the type of real estate bubble we just lived through. The policies responsible for this mess stretch across party lines and administrations - but Obama's answer has been to triple down. There's nothing new or reformative in his policies.
The 2009 stimulus has been proved to be a exercise in pure cronyism and the result speaks for itself.
Bill Clinton is absurd and he has to know it. Why would he shill for this guy? Is there something going on that we can't comprehend? Even Clinton knows that Romney is anything but radical. Does Clinton want to see the complete destruction of the once powerful middle-class in this country. He must.