Progressive Magazine Questions Obama’s Love of the So-Called “Free Market”
By Deb Cupples on June 17, 2008 at 4:08 PM in Barack Obama, Current Affairs, Economy
I get nervous when politicians lead cheers for the so-called "Free Market," because the phrase is nothing more than a euphemistic slogan that actually means "government should let big corporate players do whatever they want."
That said, Naomi Klein at The Nation wrote this last week:
"Barack Obama waited just three days after Hillary Clinton pulled out of the race to declare, on CNBC, "Look. I am a pro-growth, free-market guy. I love the market."
Oh, dear. President Bush and Vice President Cheney love the "free market," too: so much so that after Enron’s Ken Lay (may he rest in peace) begged the Bush Administration to let "free market" forces resolve California’s energy crisis, the Administration refused to intervene at a crucial time. This inaction left Californians paying triple what they had been paying for electricity, while companies like Enron and Dynegy cashed in.
Given some of Sen. Obama’s campaign statements — and some of the advisers he has chosen to give his ears to — I’m not surprised that he loves the so-called "Free Market."
Neither is economist Paul Krugman, who commented:
"Look, Obama didn’t pose as a Nation-type progressive, then turn on his allies after the race was won. Throughout the campaign he was slightly less progressive than Hillary Clinton on domestic issues — and more than slightly on health care. If people like Ms. Klein are shocked, shocked that he isn’t the candidate of their fantasies, they have nobody but themselves to blame."
Super-blogger Anglachel concurred but put it differently:
"Hundreds of bloggers typed their fingers to the bone explaining that you [progressive Obama supporters] were projecting your fantasies onto this cypher, pointing out his economic team is not very progressive, that his major donors are all Wall Street financial people, and that he never met an economic measure favorable to the middle class that he didn’t want to compromise on. You got snookered by your own irrational fantasies."
Back in December, democrats marveled over how lucky they were to have two great candidates (Hillary and Barack), either of whom they could vote for while sporting a big smile.
Now, Sen. Obama is unequivocally praising the so-called "Free market"?
I can hear the defense already: "Obama is just playing to Independents and Republicans, so he can get elected — he doesn’t really mean it. And McCain praised Bush’s corporate tax cuts a few months ago."
Anyone using that logic should be able to similarly apply it to McCain. It would go something like this:
"McCain was just playing to the Republican base during the primaries: he didn’t really mean it. He did, after all, raise hell and vote against Bush’s corporate tax cuts when it mattered — knowing he would take political heat."
The upshot: both candidates have, at some point, either flip-flopped or misrepresented themselves regarding the "Free Market" love fest.
Frankly, I don’t support McCain, but I’m also having trouble supporting Obama. That’s Obama’s fault.
I wouldn’t have trouble supporting Obama if he had consistently (and sincerely) taken stands against those Republican ideas (like so-called "Free Market" theories) that have wreaked such havoc on our nation. He didn’t take such stands.
Given the strikes against him from a progressive point of view (like his fighting to cut Florida’s primary vote in half and his back-door taking of cash from lobbyists and corporations), Obama needs to do better if he wants to maintain progressive support.
I shouldn’t have to hold my nose when I vote in November. I need both hands free to bubble in the circles on my ballot.






















