One current covert important strain in bourgeoise action and covert thought is legalized looting no less in the US than in Russia. The current Reagonomic variant was tax cuts, deficit spending and selling bonds to the rich to finance the government. This is the right-wing analog of
progessive politics.
What better way to increase the political power of the rich than to deficit spend and finance the government by deficit spending. What better investment than a negotiated rate of profit collected directly from the governments tax collection. After all taxation is neutral or regressive on the whole and collected from the whole population. The government can be run in fear of the credit markets. Of course the value of the debt needs to be maintained hence monetary austerity. Furthermore, its important this debt furnish minimally useful economic activity, military spending more than fits the
Bill, otherwise there is further potential for industrial competition of business from this socialized activity.
Following this strain of thought Clinton only has the austerity correct.
Where is the deficit spending and the military buildup. A Phil Gramm or a Newt Gingrich or a Jack Kemp would be a far better choice to increase the wealth redistribution upwards. I think this is an explicit version of what Max may have had in mind when he said it could be far worse.
--mike -- Michael Cohen mike at cns.bu.edu Work: 677 Beacon, Street, Rm313 Boston, Mass 02115 Home: 25 Stearns Rd, #3 Brookline, Mass 02146 Tel-Work: 617-353-9484 Tel-Home:617-734-8828 Tel-FAX:617-353-7755