The YOYO Handcuffs

Here's a test: name one economic policy, other than tax cuts, associated with outgoing Treasury Secretary John Snow.

Give up?

Now think about this: what is the economic policy of the Bush administration? What about the Congress? What about the Democrats?

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Bush Yoyos While the U.S. Burns: An Interview With Economist Jared Bernstein

The diary below was originally posted earlier today in the Intrepid Liberal Journal.

The conservative shift in American politics undermined the economic security of working people. Increasingly, individuals are absorbing more risks, working longer hours and earning less. Meanwhile, corporations and government benefit from less accountability to tax payers, consumers and employees. Renowned economist Jared Bernstein proposes in his new book, All Together Now: Common Sense For A Fair Economy, (Berrett-Koehler Publishers, Inc.) that we're ensnared in a "YOYO economy". The acronym YOYO means, "You're On Your Own." Bernstein's book illustrates how the "YOYOists" have schemed to transfer the burden of economic risk onto individuals and their families.

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Pro-Business Liberalism

This is a critical point. The Democratic Party is the party of business. The Republican Party is the party of corporate theocrats. - Matt

Too many liberals are reluctant to embrace the pro-business label. Meanwhile, the DLC Joe Lieberman types are really corporatists who claim to be pro-business. This contradiction places the Democratic Party in a hole because our political dialogue doesn't distinguish between those who are pro-business and corporatist. The distinction is important because the corporatist Republican Party has benefited from the perception that they are the pro-business party and the modest risk-taking entrepreneur has supported them against their own interests. Meanwhile, the Democrats are enduring the worst perceptions among voters from both wings of their party: liberals reluctance to identify with pro-business policies makes the party appear in favor of handouts while the DLC reinforces the suspicion among voters that the Democrats are just as corporatist as the Republicans. It's an odd contradiction and a rare feat of political ineptitude: the two wings of the party have managed to make Democrats appear socialist and corporatist at the same time.

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