Elizabeth Warren takes on the “class warfare” issue

Elizabeth Warren is a natural because she can articulate her philosophy in a way that connects with regular voters. Here she takes on the “class warfare” charge.

Scott Brown must be getting pretty nervous . . .

  

Elizabeth Warren – The Natural

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I was pretty happy to see Elizabeth Warren declare her candidacy against Scott Brown in Massachusetts, and after seeing her on television as a candidate I’m pretty confident she can win this race and be a huge asset for the Democrats.

A poll just came out showing her with a lead over Scott Brown, making up a huge gap in a short period of time after her announcement. This is just one poll, and it was taken when she was getting a lot of press, but she’s clearly getting the attention of voters in a positive way.

Watch the clip above, and regardless of your politics, you can see someone who has a passion for what she’s doing, and someone who enjoys politics and interacting with voters. That’s a huge asset, and it’s a characteristic you see in very successful politicians like Ronald Reagan and Bill Clinton. As I said in the title, despite the fact that she’s a Harvard professor, she’s a natural when it comes to connecting with voters.

Part of that stems from her message. The deck is stacked these days in favor of corporations and the wealthy, while the middle class and working poor get screwed. Her push for the Consumer Financial Protection Bureau illustrates this issue. Banks and credit card companies want to confuse people with the fine print. The idea behind this agency is to simplify and standardize the process facing consumers when they purchase financial services, and it was fought like crazy by the big banks. Had we had an agency like this 5 years ago, we wouldn’t have had the avalanche of bad mortgages that led to the financial crisis. Warren pushed this agency when nobody thought it would ever get passed. President Obama supported it and with persistence they were able to get it into the Dodd-Frank financial reform bill.

I’ll be posting another video soon of Warren address the “class warfare” charges from Republicans. She’s a great advocate for the progressive philosophy and she’s going to be an asset for the Democrats.

  

Trigger happy

House Minority Leader Nancy Pelosi (D-CA) leaves a House Democratic Caucus meeting on Capitol Hill in Washington on July 29, 2011. UPI/Kevin Dietsch

I’m watching the coverage of the debt deal, and it’s difficult listening to people like Chris Matthews who manage to sound clueless as they let their emotions overcome their ability to think.

Of course this is a short term win for the Tea Party and the Republicans. They had leverage, as enough of them were crazy enough and dumb enough to let the stalemate continue through August 2nd, risking economic catastrophe.

Also, President Obama took the calculated risk of going for a grand bargain. Those efforts failed, and that made it more difficult in the end game. That said, he earned long-term political points, as the public was educated about the need for a balanced approach and polls show they support that in overwhelming numbers.

Now we move to the new gang of 12 and the next phase of the debt deal. Ezra Klein makes a great point, arguing that Democrats will likely prefer the trigger as opposed to a deal if the GOP won’t budge on revenues.

Start from the premise that Republicans will refuse any deal that includes significant new revenue and Democrats will realize that that’s just fine from their perspective, as Republicans can either cut a deal with them in December 2012 or all of the Bush tax cuts can expire. Now take a good, hard look at the trigger.

The Joint Committee is charged with finding $1.5 trillion in savings over 10 years. The trigger would only cut $1.2 trillion over 10 years. The Joint Committee is likely to cut Social Security, Medicaid and a host of programs Democrats aren’t going to want to touch if taxes aren’t part of the deal. The trigger exempts Social Security and Medicaid, and $1 out of every $2 in cuts comes from the Pentagon. The Joint Committee is likely to cut a deal without revenue, and Democrats will have to explain to their base why they permitted, say, Medicare cuts while letting the GOP reject tax increases. The trigger lets Democrats blame Republicans for protecting the wealthy in the 2012 election.

The trigger would also result in massive defense cuts.

So, if the Democrats prefer a trigger if a deal can’t include revenues, and many Republicans will want to avoid defense cuts, this gives the Democrats leverage!

These details are important, and commentators like Matthews should wait to understand these dynamics before whining about the deal.

  

Elizabeth Warren won’t rule out run for US Senate

President Barack Obama announces Richard Cordray (not pictured) as his nominee to be the Director of the Consumer Financial Protection Bureau in the Rose Garden at the White House in Washington on July 18, 2011. Obama was joined by Elizabeth Warren (C), Special Advisor on the Consumer Financial Protection Bureau, and Treasury Secretary Timothy Geithner. UPI/Kevin Dietsch

Elizabeth Warren just declined on MSNBC to rule out a run for the US Senate in Massachusetts against Scott Brown in 2012. She indicated that she’s been working 14-hour days for the past year to set up the Consumer Financial Protection Bureau and that’s she’s very much wants to go home to Massachusetts and go on vacation with her grandchildren. Who can blame her.

This will, however, become a huge story if she decides to run. Scott Brown will be tough to beat, but Warren gives the Democrats a chance in a year where they will need pickups to keep control of the Senate. The decision by President Obama to appoint Richard Cordray to head the bureau instead of Warren will disappoint many liberals, but the left will be much better off with Warren as a candidate for Senator as pointed out by Ezra Klein.

One of the themes of the 2012 election will be the interests of corporations and the wealthy versus the interests of ordinary Americans. Obama is itching for this fight, and Warren will be a huge assets who will energize liberals and also appeal to independents.

  

The GOP’s Eric Cantor problem

House Majority Leader Eric Cantor (R-VA) speaks at the Faith & Freedom Conference and Strategy Briefing in Washington, June 3, 2011. REUTERS/Molly Riley (UNITED STATES – Tags: POLITICS)

The GOP discipline has completely broken down over the past week in the debt ceiling negotiations. All year they’ve been playing a game of Russian Roulette with the economy, trying to use a potential default to force massive spending cuts. In many ways the strategy worked well, as President Obama and the Democrats put just about everything on the table.

But, as usual, the ideologues are overplaying their hand, so much so that Mitch McConnell buckled under the pressure of the business community and basically said he’d let the president raise the debt ceiling without any cuts.

The guy at the center of all this is Eric Cantor, whose either too stupid or too ambitious to take yes for an answer. He can get massive cuts if he just includes some revenues in a deal, but instead he’s pushing the talks to the brink of disaster. Last night he also tried to imply that the President lost his cool in the last meeting, though all other accounts tell a different story.

Meanwhile, the polls are starting to shift in Obama’s favor with regard to the debt and the economy – at least when compared to congressional Republicans. That’s what happens when smarmy guys like Cantor become the face of the GOP.

Dana Milbank nailed it yesterday, even before Cantor’s latest performance last night in the negotiations where he again refused to budge.

He draws out the vowels in a style that is part southern, part smarty-pants. Had young Cantor spoken like this at his prep school in Richmond, the bigger boys may well have wiped that sneer off his face. Yet even then, Cantor was accustomed to having things his way. According to Cantor’s hometown Richmond Times-Dispatch, the quotation he chose to accompany his yearbook photo was “I want what I want when I want it.”

What Cantor wants now is power — and he is prepared to risk the full faith and credit of the United States to get it. In a primacy struggle with House Speaker John Boehner, he has done a deft job of aligning himself with Tea Party House members in opposition to any meaningful deal to resolve the debt. If the U.S. government defaults, it will have much to do with Cantor.

His antics from last night are being branded as childish, and the Democrats smell blood and are now taking direct aim at Cantor. Harry Reid is more than happy to negotiate now with Mitch McConnell who is desperate to avoid the potential catastrophe that he and other Republicans created.

They clearly thought Barack Obama would fold, but they were mistaken. Obama has called their bluff, and they look like panicked fools at the poker table.

  

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