JPMorgan Chase, Goldman Sachs, BP, Chevron, WalMart, and billionaires Charles and David Koch are launching a multi-million dollar TV ad buy Tuesday blasting President Obama over the national debt.
Actually, I don't know who's behind this ad because there's no way to know. And that's a big problem.
The front group for the ad is Crossroads GPS, the sister organization to the super PAC American Crossroads run by Republican political operative Karl Rove.
Because Crossroads GPS is a tax-exempt nonprofit group, it can spend unlimited money on politics -- and it doesn't have to reveal where it gets the dough.
By law, all it has to do is spend most of the money on policy "issues," which is a fig leaf for partisan politics.
Here's what counts as an issue ad, as opposed to a partisan one. The narrator in the ad Crossroads GPS is launching solemnly intones: "In 2008, Barack Obama said, 'We can't mortgage our children's future on a mountain of debt.' Now he's adding $4 billion in debt every day, borrowing from China for his spending. Every second, growing our debt faster than our economy," he continues. "Tell Obama, stop the spending."
This is a bald-faced lie, by the way.
Obama isn't adding to the debt every day. The debt is growing because of obligations entered into long ago, many under George W. Bush -- including two giant tax cuts that went mostly to the very wealthy that were supposed to be temporary and which are still going, courtesy of Republican blackmail over raising the debt limit.
In realty, government spending as a portion of GDP keeps dropping.
As I said, I don't know who's financing this big lie but there's good reason to think it's some combination of Wall Street, big corporations, and the billionaire Koch brothers.
According to the reliable inside-Washington source Politico, the Koch brothers' network alone will be spending $400 million over the next six months trying to defeat Obama, which is more than Senator John McCain spent on his entire 2008 campaign.
Big corporations and Wall Street are also secretly funneling big bucks into front groups like the U.S. Chamber of Commerce that will use the money to air anti-Obama ads, while keeping secret the identities of these firms.
Looking at the all the anti-Obama super PACs and political fronts like Crossroads GPS, Politico estimates the anti-Obama forces (including the Romney campaign) will outspend Obama and pro-Obama groups by 2 to 1.
How can it be that big corporations and billionaires will be spending unlimited amounts on big lies like this one, without any accountability because no one will know where the money is coming from?
Blame a majority of the Supreme Court in its grotesque 2010 Citizens United vs. Federal Election Commission decision -- as well as the IRS for lax enforcement that lets political front groups like Crossroads GPS or the U.S. Chamber of Commerce pretend they're not political.
But you might also blame something deeper, more sinister.
I'm not a conspiracy theorist (you can't have served in Washington and seriously believe more than two people can hold on to a big story without it leaking), but I fear that at least since 2010 we've been witnessing a quiet, slow-motion coup d'etat whose purpose is to repeal every bit of progressive legislation since the New Deal and entrench the privileged positions of the wealthy and powerful -- who haven't been as wealthy or as powerful since the Gilded Age of the late 19th century.
Its technique is to inundate America with a few big lies, told over and over (the debt is Obama's fault and it's out of control; corporations and the very rich are the "job creators" that need tax cuts; government is the enemy, and its regulations are strangling the private sector; unions are bad; and so on), and tell them so often they're taken as fact.
Then having convinced enough Americans that these lies are true, take over the White House, Congress, and remaining states that haven't yet succumbed to the regressive right (witness Tuesday's recall election in Wisconsin).
I desperately hope I'm wrong, but there's growing evidence I may be right.
Follow Robert Reich on Twitter: www.twitter.com/RBReich
David Bromwich: The Strange Bipartisanship of 2009, 2011, and 2013
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You are right, but we can easily move that 2010 date back. Some would say back it up at least to 1980, when Reagan was elected, but you could go back a bit further, to Lewis Powell's 1971 memorandum.
http://en.wikipedia.org/wiki/Lewis_F._Powell,_Jr.#Powell_Memorandum
It is disingenuous to cite the Koch’s without Soros; the latter, a self-loathing anti-Semitic, anti-American billionaire who gleaned wealth by the willful destruction of currency, banks and economies. The main difference between the Koch’s and Soros; the former are not working to undermine the US economy.
It is hypocritical to EXCLUDE millions unions poured into the WI recall. Despite that, their position was defeated soundly. It was not money that swayed the outcome but the people that voted their new realization of economic fact in a way that in deference to your advanced degrees, you choose to ignore. This farce, replete with lies perpetrated by Trumka et al, sees Walker’s actions and denouement as a salvaged budget and SAVED jobs.
Your final ‘mistake’ is your obfuscation of the failed Keynesian policies which are adding exponentially to our predictable fiscal demise. Perhaps your tripe sells elsewhere but not in the real world where sleeping independents have awakened from a costly nap. My only solace is that even you progressive tools with the nearly complete control of the educational system and support of the media are failing to un-ring the bell of your ideological failure.
$4.4 Trillion:Added To The National Debt Since Obama Took Office. (U.S. Treasury Department, Accessed 12/6/11
$1.75 Trillion: Annual Cost Of Federal Regulations. (Small Business Administration, September 2010)
$1.416 Trillion: Federal Budget Deficit For FY2009 – Highest In U.S. History. (CBO, 10/7/10)
Sadly, most people are too apathetic or ignorant to notice.
I have made my choice.
But then, that's the Bagger Way.
http://blogdredd.blogspot.com/2012/06/tale-of-coup-cities-3.html