In a decidedly rousing speech at the Democratic National Convention Wednesday night, Bill Clinton defended President Barack Obama’s economic plan without denying the dire situation the U.S. currently faces:
No president, no president — not me or any of my predecessors, no one, could have repaired all the damage he found in just four years. But he has laid the foundation for a new, modern, successful economy, of shared prosperity, and if you renew the President’s contract you will feel it. You will feel it.
While waiting for President Obama to take the stage himself on Thursday, we paged back to a piece from the Review of Radical Political Economics that, though published a year ago, offers a timely and thought-provoking perspective on the real purpose of the economy, the “problem” with Obama, and why everyone needs to get political right now. American political economist, historian and activist Doug Dowd published “What Is Coming Around the Corner?“ along with a related podcast in the December 2011 issue of RRPE:
If, in 2014, Obama keeps the presidency, but the Congress—as is highly likely—continues on its conservative paths (kept there by both the conservatives of the GOP and the Democrats) that would be ominous enough; however, it is at least as likely that Obama’s record as president will continue on its bumpy road and that he will be replaced by someone much worse. Obama has been all too friendly with Wall Street and big business. For him that may—or may not—have been a bit of a strain; if the GOP takes over, Wall Street and big business will furnish them with cheerleaders.