The crash of our time came two years ago today. We know the economic story well. Lehman Brothers fell. The markets went with it.
But the political story of September 15 is barely known. That it made Barack Obama's majority. That, two years later, it explains why the Democratic majority is on life support.
September 15th was the day John McCain lost the election--and, like Kuhn, Stacy McCain (the winning McCain) called it then and there.
...FDR's first year was devoted to the financial crisis. Obama's first year was about big liberal policies. And the crisis, kind of. Even the stimulus did not target the jobs lost. Half of jobs lost were in manufacturing and construction. The portion of the stimulus focused on jobs--and it was only a portion--sought to secure the states' social safety net and municipal workers.
Time magazine reported another key point: "About one-sixth of the total cost, is an all-out effort to exploit the crisis to make green energy, green building and green transportation ... computerize a pen-and-paper health system; promote data-driven school reforms..."
Good stuff, if you are not worried about paying your bills or feeding your family.
One would like to think that it's even more than that--that the nation has finally awakened to the illusory promises of a free lunch. Those promises were made by (R) and (D) pols, as Ron Johnson said today, truthfully.
There ain't no free lunch. And Obama and his coterie are finding out the hard way.