Monday, September 14, 2009

FRANK Rich says that President Obama wasted the summer by staying out of the fray while the inmates took over the asylum. A quotation:

...when we gain some perspective on the summer of 2009, the health care debate, like the crazed town-hall sideshows surrounding it, may seem very small in the history of this presidency — ... .

The reason is that health care reform, while an overdue imperative, still is overshadowed in existential urgency by the legacies of the two devastating cataclysms of the Bush years, 9/11 and 9/15, both of whose anniversaries we now mark. The crucial matters left unresolved in the wake of New York’s two demolished capitalist icons, the World Trade Center and Lehman Brothers, are most likely to determine both this president’s and our country’s fate in the next few years. Both have been left to smolder in the silly summer of ’09.

As we approach the eighth anniversary of the war that 9/11 bequeathed us in Afghanistan, the endgame is still unknown and more troops are on their way. Though the rate of American casualties reached an all-time high last month, the war ranks at or near the bottom of polls tracking the issues important to the American public. Most of those who do have an opinion about the war oppose it (57 percent in the latest CNN poll released on Sept. 1) and oppose sending more combat troops (56 percent in the McClatchy-Ipsos survey, also released on Sept. 1). But the essential national debate about whether we really want to double down in Afghanistan — and make the heavy sacrifices that would be required — or look for a Plan B was punted by the White House this summer even as the situation drastically deteriorated.

No less unsettling is the first-anniversary snapshot of 9/15: a rebound for Wall Street but not for the 26-million-plus Americans who are unemployed, no longer looking for jobs, or forced to settle for part-time work. Some 40 million Americans are living in poverty. While these economic body counts keep rising, tough regulatory reform for reckless financial institutions, too-big-to-fail and otherwise, seems more remote by the day. Last Sunday, Jenny Anderson of The Times exposed an example of Wall Street’s unashamed recidivism that takes gallows humor to a new high — or would were it in The Onion, not The Times. Some of the same banks that gambled their (and our) way to ruin by concocting exotic mortgage-backed securities now hope to bundle individual Americans’ life insurance policies into a new high-risk financial product built on this sure-fire algorithm: “The earlier the policyholder dies, the bigger the return.”

MEANWHILE, the ignorant seem to be getting dumber by the minute. Yes, we are the "empire of illusion," as Chris Hedges termed it.