America Held Hostage : A silly season of political hostage taking in Washington

It is common knowledge that American businesses currently hold more than two trillion dollars (yes, you heard it right, $2 trillion) on their balance sheet while the US economy continues to hemorrhage jobs while sputtering to a calamitous halt, on its way back into recession - a politically motivated and self -inflicted economic wound. The argument being bandied around by political operatives and ner-do-gooders is the lack of certainty. In a silly-season of political and economic amnesia, some respectable commentators have even latched on to the madness. Business is about risk taking. And there is no risk if there is certainty!

The real truth behind the huge stock-pile of cash by US businesses is far from lack of certainty. It is political hostage taking.

Heading into the administration of the US first black (actually a mulato) President, with its first Female speaker in tow, both from the same political party, the opposition party decided to cut short any hope of a successful presidency, even if it is at the nations expense, or as some will secretly argue, better at the nation's expense. The Republican party, headed by Rush Limbaugh and Mitch McConnell declared in Fall of 2008 and Winter of 2009 respectively that their primary goal is the failure of President Obama's administration. In Limbaugh's words, "I hope Obama fails" and in McConnell's word "Our first priority is to defeat Obama" . Every action; parliamentary, commentary, policy debate, votes, lobbying, advocacy, campaign and decisions by Republicans of all stripes, and a band of racists and misogynists under the false label of Tea Party Movement has been geared towards achieving that treasonous objective. Treasonous because their prayer that Obama fails at such a perilous time for the nation (right at the edge of a Republican orchestrated financial crises that led the nation to the edge of another depression) leaves the nation tottering on the brink of disaster. America now has an unprecedented (at least post the long years of the 1930s depression) level of national debt (almost 100% of its national GDP), and a depression level unemployment rate (real unemployment is over 16% and more than 25% for blacks!!). 

The Republicans in government, led by Mitch McConnell set out to achieve their objective, first by creating a new rule of the game in how the senate handles routine business. Filibuster, a senate procedure intended for the most extreme of cases, to protect the right of the minority, became the order of the day. Obama, a President that was overwhelming elected by the American people with one of the larger majorities in both votes and electoral college, became an extreem to the Republican party. His mandate was turned into a liability. Republicans demanded 60 votes for every senate action. The Republicans in the house obliged and basically refuse to vote for any initiative proposed by the majority between 2009 and 2010. Obama's efforts to update the nation's health care policy to address a glaring economic weakness was turned into a policy to "kill grandma!". The policy debate was hijacked by a bunch of angry racists and a band of marauding fascists demonstrating false concern for the nation, masking their anger that the nation was conned into electing a black looking man President and allowing a woman to become its speaker. Many even openly talked about secession and of course several, even in the halls of congress called the President either a liar or unpatriotic.

But the hijackers were rewarded. The President and his party gave way to the hostage takers, right from the very first moment. Professing a keen sense and knowledge of history, the President surrounded himself with aids who would help him appeal the most to Republicans. He appointed several Republicans into very high profile roles and even offered a job to a member of the Republican senate leadership. of course his offers were mostly spurned and when accepted, they became launching pad to later oppose him. John Huntsman's position as America's ambassador to China, while it hardly helped America has become one of his moment of fame for aspiring to make the President a one term President.  

The hijackers reward did not end at appointments. The President caved in to perceived Republican interests right from his very first policy approach to addressing the nation's ills. He demanded that the stimulus package advocated to help ease the nation out of its economic malaise foisted on it by nearly three decades of conservative economic policy and finally shepherded by 8 years of near total Republican rule, be structured to win as many Republican votes as possible. He got three votes in the senate and none in the house even though 30% of the entire package was for tax cut (a supposed Republican preference) and another 30% was in aids to state (another supposed Republican preference). The health care law was another caving to Republican sensibilities. The law, if witten by a Republican congress and enacted by a Republican President would hardly had been different from what the Democratic congress and President gave the nation in 2009. Yet, despite all the President's efforts, including delaying the process for almost a year, to get Republican support, he got one vote in the house and none in the Senate and his political capital was run down. Indeed, Jim Dimint's wish that Health care becomes the President's waterloo could not have been better realized. Indeed, after the health care debate, the President's performance simply went from bad to worse, at least that was the opinion of the electorate that went ahead to punish him and his party for trying to solve the nation's problem. The polity has been hijacked.

After a self-styled electoral shellacking, the President gave the Republicans their demand to extend the Bush tax cut for the richest 1% of the nation at an annual cost of seventy billion dollars (or $700 billion over ten years). The President also added a sweetener in the form of a decrease in the capital gains tax and the estate tax. These deals excacerbatated the fiscal future of the nation with no real benefit in the jobs outlook. It was, if you may, the devils stimulus. It took only six months after the deal for the earlier tepid gains on 2009 through 2010 to be reversed. The job gains reversed after a gradual slow down and the GDP growth trend also crawled to a halt. The financial market continue to zig-zag as all other economic indicators tend to an anemic economy at best.  And then the party of marauders began to show their true colors. 

Early in the year, AT&T announced its plans to further whittle down whatever is left of competition in the mobile-communication market by taking over the fourth largest provider by market share, Tmobile. Of course, in a market highly dominated by two majors (AT&T and Verizon) who where recently accused of price-fixing, many people, including AT&T's competitor, Sprint objected. Early this week, the mobile phone provider offered to sweeten the deal by returning 5000 call center jobs back into the US!  AT&T was now using jobs as a bargaining chip for its hegemonous ploys. The nation has been hijacked , and what better proof do we need?

Well, you will think that AT&T is the only company bold enough to publicly play this shameless gambit in a nation where one of the largest companies (GE) has been found not to pay any corporate tax, just like most US corporations remain tax dodging entities, Amazon decided to try its hand out. A report today claimed Amazon his bargaining jobs with California. Congress recently approved tax for online transactions and many states are beginning to charge online retailers taxes. Indeed, many states have charged online retailers taxes in the past, but now, Amazon.com, one of the world largest online retailer, who became that big because of its very low transaction tax is vigorously fighting the revenue generating too. And on Thursday, it offered to keep 7000 jobs in California in exchange for a tax reprieve!!!

The nation is being held hostage. It is being held hostage by those who have benefited the most from it. It is being held hostage by those who profess to love it. It is being held hostage by those who claim the most patriotism. The nation is being held hostage by the Republican party and a band of tax cheating corporations and individuals whose interest is their own personal wealth, even if that comes at the national expense.

It is time the people know this and demand the hostage be returned. It is time President Obama grow a spine and stop acceding to the demands of the hostage takers. It is time the press understand the issue and start reporting that reveals the truth. It is time the people understand this and start voting out the corporate interest, starting with a reverssal of 2010 elections. Vote out the Republican hostage takers and ensure we never have the kind of silly, economy destroying debt-ceiling debate of the last summer.. It is time Jim Dimint and Mitch McConnell be finally put to shame for their desire to see the nation fail. It is time to realize that this nation has been hijacked!