Poverty and the American two-party system
Obama’s first term was devoted to protecting and expanding the wealth of the financial-corporate oligarchy at the expense of the vast majority of the population. His second term will be focused on carrying through a historic retrogression, in which all of the gains won by the working class over a century of struggle are to be reversed.
The multitrillion-dollar bailout of the banks on the one side, and the attack on wages, pensions, health care and working conditions on the other—inaugurated by Obama’s wage-cutting restructuring of the auto industry—are to be intensified and combined with an assault on what remains of social welfare programs.
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