Romney, Obama, No Sense of Solidarity With Working Class

ROMENY & OBAMA, Two Sides of The Same Coin

By Barry Grey

 

A farcical war of words has erupted in the US elections, with the Republican camp of Mitt Romney and the Democratic Obama camp trading charges of being “out of touch” with the American people.
The controversy began last Friday when Obama, at a press conference on the economy, boasted of “record profits in the corporate sector.” Declaring that the “private sector is doing fine,” he hailed corporate America for “doing a good job creating jobs.”
These remarks came a week after the Labor Department reported a gain of only 69,000 jobs in May, less than half the number needed to keep pace with population growth, along with a rise in the official jobless rate to 8.2 percent. The May report marked the third straight month of plummeting job growth. It shattered the administration’s claims of economic recovery and heralded a further increase in unemployment.
Nevertheless, Obama spoke at his press conference of “a strong, robust recovery.” The cynicism of these words was underscored Monday, when the Federal Reserve reported that the net worth of the median American family fell by 39 percent between 2007 and 2010, wiping out all of the gains since the early 1990s. The report also showed a 7.7 percent decline in earnings over the three years.
Obama let slip his indifference to the suffering of millions of Americans and the real class interests he, his administration and the Democratic Party serve. He is well aware that the record profits of the banks and corporations of which he bragged have been achieved at the direct expense of the jobs, wages and living conditions of the working class.
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