Poorer workers, Latinos, Afro-Americans, young urban
professionals and women put their trust in Barack Obama. And this morning they
are celebrating. But despite their vote of defiance against the rich,
right-wing, racist Republicans the euphoria will melt away.
The re-election of Obama for a second term is certain to
disappoint the voters as, in the words of historian Simon Schama, the triumph
of reality returns to the surface.
The changing demographics of the United States have brought millions
into the working, or as they call it “middle” class from across the border.
They were attracted by the promise of a better life, drawn in by the expanding
economy but now left hung out to dry by the global slump.
The pressing demands of the so-called fiscal cliff of tax
and budget cuts towers over the renewed administration. Republicans who control
the House of Representatives have pledged to block Obama at every step.
In any case, the power behind the billions of corporate
dollars – estimates say $6 billion were spent in support of the candidates –
will secure Washington ’s
allegiance to the future of global capitalist interests.
This came through in almost the first words of his victory
speech, with Obama promising to talk to the defeated Romney to see "where
we can work together to move this country forward".
And he will have to. Agreements will have to be forged to
get federal spending limits raised yet again and budgets passed.
Obama may have demonstrated good intentions and won many
votes with his largely frustrated attempts to improve access to health care for
the tens of millions who’ve lost jobs and hence health insurance along with
their homes, and no doubt he’ll be seen to be trying even harder.
But the pursuit of growth to secure more jobs will see an
accelerating spiral of decline in real incomes as the global competition to
attract production back from China
and elsewhere intensifies. Inequality will grow even deeper than it is at
present.
The president’s watchword is “hope” but the savage programme
of cuts that must follow in the attempt to stave off the world’s biggest
economy declaring itself bankrupt will vastly overshadow the European austerity
programmes which have brought millions to the brink of revolution in Greece and Spain . Romney would have handed the
responsibility to the states – many of which are already bankrupt – to do the
job. Obama will do it at federal level.
The election pushed fears of a new storm into the
background, temporarily. But another was threatening the East Coast even before
the effects of Hurricane Sandy which still left more than a million without
power had begun to sink in. Staten Island is still in darkness, and the looters are
at work.
These record-breaking, life-shattering storms draw their
enormous power from the energy poured into the atmosphere by the corporations
that bought the presidency. Neither Obama nor Romney had anything to say about
climate change during the campaign. No doubt their corporate backers ruled it
out.
With or without Romney, Obama may well authorise spending on
improved storm defences, but will continue to break records in oil drilling,
tar sand extraction and fracking, and he will approve the northern half of the
Keystone XL pipeline. All in pursuit of energy independence and profits for Big
Oil.
Obama may seem like a nice enough family man, but, whatever
he wants to achieve, he and his administration will intensify the economical,
technological and psychological warfare against any and every government or
movement that stands in the way of corporate advantage. The threat of a military strike against Iran mounts,
day by day.
Millions voted for Obama in the often desperate hope his
election would ward off the ravages threatened by the Republicans. Their
support was reluctantly given. Their frustration, their aspirations for a
better future will have to find another route if they are to be fulfilled in
practice.
Gerry Gold
Economics editor
