Sunday, July 29, 2012

Non-choice in next US presidential elections

First Matt Stoller has an amazing piece up at nakedcapitalism. He is highlighting how there is no debate on essentials in this election. His quote "the two candidates are speaking not to the voters, but to the big money". This is exactly what I wrote about in my book Subverting Capitalism and Democracy.  

Big money in politics
If you want to know how much big money is influencing the process, here is another discussion about money in politics by Hacking Society where the numbers given are as below (about 1.50minutes to 3 minutes):

  1. 0.26% of Americans give more than $200 in election finance for congressional election.
  2. 0.05% give maximum amount to any congressional candidate.
  3. 0.01% give more than $10,000
  4. 0.000063% or 196 people finance 80% of the superpack money in Presidential election.
These figures are astounding! Just imagine what are these 196 people getting for all this money. In their normal day job they examine microscopically ever dollar they spend and yet they are spending all this money for superpacks? 

What will be the policies of new President?
To understanding politicians and their actions, it is important to know who they put to work for them. If you have read or seen Harry Potter, you must have learnt how important house-elves are (Dobby and Kreacher). Many commentators cribbed how there was no change between the economic and financial advisors in Bush era and Obama era. Matt Stollers points out that "Obama appointed Erskine Bowles. - Clinton put Erskine Bowles, a conservative Democrat, in charge of the effort o work with Newt Gingrich to cut Social Security for recipients and pour some of the Social Security trust fund into the booming stock market".

So essentially, Americans are faced with nothing new in policy initiatives and at worst drastic cutbacks in social security and other benefits.