Much is being said about Bain Capital of Mitt Romney since 1999. This was the year before the temporal bridge to the 21st century would inevitably be crossed as a Hobson’s Choice but without the much anticipated cross-over to hope for all humanity at the end of the Clinton Administration in 2001.
Nearly 60 years after the Brown v. Board of Education decision in 1954, as the integrated demographics of the country change in the run up to 2050, squarely putting the white majority – in the 13 first states in 1776 to the full 50 states of the union now – in minority beginning in the nation’s capital District of Columbia, and in California, Texas and Florida, America is once again experiencing white flight because of unprecedented failure of leadership of its political class, despite Barack Hussein Obama’s election in 2008 after 9/11 and Iraq.
White shelter and education is once again in solid recovery after the 2007 housing slump, and/but – in an oxymoron of conjunction and disjunction – the colored homes and schools are lagging behind.
Washington, Adams, Jefferson and Lincoln would be concerned because America is in social regress.
Teddy Roosevelt had bequeathed to the progressives of America the political dream of universal health care about 100 years ago. Obama, in a generational shift from Martin Luther King, Jr., thinks he delivered that dream to the country and wants to keep it that way.
The opportunity cost of “somebody [a.k.a government] pays for healthcare” of Clinton and Obama is the Keynesian social instability of the new minority white flight from the colored new majority welfare state of Johnson: the colored, socially liberal, rest of America is Europe, and United States of America – Tea Partiers, Republicans and Conservatives – is white and so are access to financial capital, divide in incomes, priority in employability and employment and in the dispensation of “equal” justice under law.
Mitt Romney, who, after all, had received foreign monies as nearly all businesses on Wall Street did in the 1990s, was at the forefront of the Clinton economic decline, from 1999 to now, which had “elected” George W Bush in 2000 under the roof of “Equal Justice Under Law” behind the halls of the United States Congress on Capitol Hill.
To keep the historically validated promise of America to itself and the rest of the world, under law after 1964, the Mormon ought not to be as compliant in answering questions as he has been about his legitimate business past to a Nobel Peace Laureate president who stubbornly refuses to lead from above the fray of politics as usual which he had condemned so eloquently in 2004 and 2008.
Adams v. Jefferson, Douglas v. Lincoln, Wilson v. Teddy Roosevelt, FDR v. Hoover, (Johnson during Vietnam after JFK) v. Nixon, Carter v. Reagan, Bush v. Clinton were all about America’s promise, notwithstanding the bitterness of political contests and the politics of personal destruction. Romney v. Obama, in the post-Cold War habit since 1993, has become all about leveeing the self-inflicted, masochistic bree(a)ches in a world where United States sees no purpose.
Nothing much has changed in New Orleans after Hurricane Katrina. Nor has it for America after 1993.
The two constitutional lawyers and educators of the new American left – the white man from Hope, Clinton, and the black and white man of hope, Obama, are busy raising money to supposedly “legitimately” attack a wealthy Mormon, not because he may have done anything wrong, worthy of being called a financial felon before he is proven to be one with basis in fact and not fabrication, but because the political legacy of the Clinton economic miracle is on the chopping block from Massachusetts to Washington.
Mitt Romney’s Mormon predecessor from the State of Utah, Marriner Eccles, has a Federal Reserve building on Constitution Avenue in Washington, D.C named after him with (a) room for Ben Bernanke to run the nation’s economy. FDR and Keynes had deliberately changed the Fed then – Fed contracted money supply and the government expanded war-time debt to structurally transform the US economy until Eisenhower could reduce the debt to manageable levels from 1953-1961.
Now it is time to rectify FDR’s mistake by doing the converse, not repeat it. Democrat JFK had deplored Republican Eisenhower’s stagnating economy in 1960 to scrape a victory over Eisenhower’s Vice President Nixon, and George W Bush bemoaned the 1999 Clinton downturn in 2000 to ultimately win a Supreme Court battle versus Gore for his place in the White House. Both Kennedy in and after 1961 and Bush in and after 2001, however, had presided over a cut in the federal funds rate and taxes to recover the US economy in their terms in office. Carter and later Reagan had reformed taxes and the regulatory structure following the Volcker raise of the federal funds rate to squeeze inflation, which is not a concern at the moment, out of the economy.
Hands-off approaches to induce structural change in the United States, however, no longer work in the global financial markets and economy after 1999. Dodd-Frank must be reformed again to fully reflect the new financial markets’ structure after 1999.
If Romney cannot counter the president on Bain effectively and impersonally, abstracting away from the political drama of Obama’s Bain allegations to the crux of the politics of the issues at hand, even if elected in a backlash against Obama in November, Romney’s presidency may not be viable to further reform the Obama reforms or the government-at-large for that matter to work within its means (or the budget constraint). The Democrats, with or without Obama and Clinton, will still lay claim to health care and financial regulatory reform laws expected to be fully implemented by 2016 as they stand.
Scathed protagonists must be replaced in the dramatis personae with fresh blood if the job is to get done: Barack with his wife Michelle and Romney with former speaker Newt Gingrich, 3 months before the election of November 06, 2012, to return a sense of purpose into the highly compensated jobs (annual wage higher than the social security cut-off by definition) of elected officials at either end of the people’s corridor between Capitol Hill and Pennsylvania Avenue if the drought of 2012 and the cold of January 2013 is to break into blossom around the waters of the Jefferson Memorial next March. Spring is yet to come to America.