The austerity measures implemented at all levels of the government have already had a disastrous impact on the economy. Federal, state and local governments have slashed two thirds of a million personnel over the past year.
In the midst of the greatest jobs crisis since the Great Depression, there is no section of the political establishment or either of the major political parties that supports public works projects or any other measures to put people to work. Nor are there any proposals to provide relief for those being driven into poverty or those losing their homes to foreclosure.
In the name of deficit reduction, the entire political establishment is demanding that the full cost of the failure of American and world capitalism be borne by the working class.
There is no opposition to this policy of social counterrevolution from the trade unions or their allies among the liberals and the middle-class ex-left organizations. These forces, which represent well-off layers of the upper middle class, remain adamant supporters of Obama and are preparing to back his reelection campaign. They are indifferent and indeed hostile to the interests of the working class. For them, unemployment is a non-issue.
The prospect of permanent mass unemployment stands as an unanswerable indictment of the capitalist system. This is not simply an American issue. In country after country, governments, under the whip of the banks, are cutting jobs, slashing wages and eliminating social programs. Each cut only paves the way for the next round of even more brutal measures.
via www.wsws.org
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