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KRUGMAN: Election losers still hope to win, by stealth

  • (JACK OHMAN / Oregonian)

On Election Day, the Boston Globe reported, Logan International Airport in Boston was running short of parking spaces. Not for cars — for private jets. Big donors were flooding into the city to attend Mitt Romney's victory party.

They were, it turned out, misinformed about political reality. But the disappointed plutocrats weren't wrong about who was on their side. This was very much an election pitting the interests of the very rich against those of the middle class and the poor.

And the Obama campaign won largely by disregarding the warnings of squeamish “centrists” and embracing that reality, stressing the class-war aspect of the confrontation. This ensured not only that President Barack Obama won by huge margins among lower-income voters, but that those voters turned out in large numbers, sealing his victory.

The important thing to understand now is that while the election is over, the class war isn't. The same people who bet big on Romney, and lost, are now trying to win by stealth — in the name of fiscal responsibility — the ground they failed to gain in an open election.

Before I get there, a word about the actual vote. Obviously, narrow economic self-interest doesn't explain everything about how individuals, or even broad demographic groups, cast their ballots. Asian-Americans are a relatively affluent group, yet they went for Obama by 3 to 1. Whites in Mississippi, on the other hand, aren't especially well off, yet Obama received only 10 percent of their votes.

These anomalies, however, weren't enough to change the overall pattern. Meanwhile, Democrats seem to have neutralized the traditional GOP advantage on social issues, so that the election really was a referendum on economic policy. And what voters said, clearly, was no to tax cuts for the rich, no to benefit cuts for the middle class and the poor. So what's a top-down class warrior to do? The answer, as I have already suggested, is to rely on stealth — to smuggle in plutocrat-friendly policies under the pretense that they're just sensible responses to the budget deficit.

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