The president's backyard conversation on the economy (as it could be)
President Obama continues his economic tour today (Wednesday) with stops in Des Moines, Iowa, and Richmond, Va. In Des Moines he hosts a backyard discussion on the challenges currently facing the middle class with approximately 70 neighbors from the area, according to the White House. Here鈥檚 an imagined version of that discussion:
OBAMA: Thanks so much for joining me. I know many of you are hurting and angry about the economy, and I don鈥檛 blame you. It鈥檚 the worst economy since the Great Depression. When consumers can鈥檛 buy and businesses won鈥檛 expand for lack of customers, government has to be the purchaser and employer of last resort. We learned that in the Great Depression, but Republicans obviously didn鈥檛 鈥� and they鈥檝e blocked every jobs program I鈥檝e offered.
NEIGHBOR: Why don鈥檛 you have a showdown with them? Let them filibuster a jobs bill and show which side you鈥檙e on and which side they鈥檙e on?
OBAMA: That鈥檚 just Washington at its worst. More deadlock. I can鈥檛 even get Republicans to agree to extend the Bush tax cuts for 98 percent of Americans. They鈥檙e threatening to block it unless I agree to extend the tax cut for the top 2 percent. Can you believe it? The top 2 percent got the lion鈥檚 share of the Bush tax cuts in 2001 and 2003, and if we extended it just one more year for them they鈥檇 get a windfall of $36 billion they never had any right to expect. Millionaire families would get $31 billion next year. That鈥檚 money I鈥檇 rather use saving the jobs of teachers and fire fighters 鈥� people who protect our communities and who need the jobs and would spend the money rather than just putting it away.
NEIGHBOR: Why don鈥檛 you have a showdown with them? Let them try to block the middle-class tax cut for 98 percent because they want to give it to the top 2 percent, and show which side you鈥檙e on and they鈥檙e on?
OBAMA: That鈥檚 would be just more of the same old Washington, and I promised to bring change to Washington. Let me tell you, the underlying reason for the economic mess we鈥檙e in has been building for years. It鈥檚 a fundamental imbalance in which the top 1 percent now gets almost a quarter of all national income. We haven鈥檛 seen income and wealth this concentrated since the late 1920s, and we all know what happened then 鈥� the Great Depression. We鈥檒l never really get out of the gravitational pull of the Great Recession until we fix this basic problem. Health care reform was a small step forward, but the Republicans won鈥檛 let me do anything else. I鈥檇 like to help struggling homeowners who can鈥檛 pay their mortgages, I鈥檇 like to invest in our crumbling infrastructure, I鈥檇 like to reform the tax system so multimillionaires can鈥檛 pretend their earnings are capital gains and pay at the rate of 15 percent. I鈥檇 like to exempt the first $20,000 of income from the payroll tax and make it up by applying payroll taxes to incomes over $250,000. I鈥檇 like to make public higher education free, and pay for it with a small transfer tax on all financial transactions. I鈥檇 like to do much more 鈥� a new new deal for Americans. But Republicans are blocking me at every point.
NEIGHBOR: Why don鈥檛 you have a showdown with them? Make restoring the broad middle and working class of American into a national campaign. Let them try to block these reforms and show which side you鈥檙e on and which side they鈥檙e on?
OBAMA: That鈥檚 just Washington gridlock. I promised change. In any event, I鈥檓 afraid it鈥檚 too late. Congress is going home soon. All we have left is the midterm elections and then a lame duck session. Republicans may take over the House and take more seats in the Senate in November, and then I won鈥檛 be able to do much of anything.
NEIGHBOR: If they do make gains in the midterm, it will be more important than ever for you to show which side you鈥檙e on and which side they鈥檙e on. Then at least you have a fighting chance of mobilizing Americans behind you. Otherwise this aftershock of a recession will go on for years, demagogues will prey on the public鈥檚 anxiety to foment even more anger and resentment, you鈥檒l lose in 2012, and we鈥檒l have an even more hateful politics.
OBAMA (blinking, momentarily unsteady, stuttering): You 鈥� You鈥檙e 鈥� right! You鈥檙e 鈥� absolutely right! I hadn鈥檛 understood until this very moment! Thank you! Thank you! (Everyone cheers.) We鈥檙e gonna fight! We鈥檙e going to really take them on! That鈥檚 the only way to make real change! I finally get it! (More cheers.)
NEIGHBOR: Any while you鈥檙e at it, read Robert Reich鈥檚 latest book, AFTERSHOCK. It explains it all. Here鈥檚 a copy.
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