New Populism Spurs Democrats on the Economy

Source: NY Times

On Capitol Hill and on the presidential campaign trail, Democrats are increasingly moving toward a full-throated populist critique of the current economy.

Clearly influenced by some of their most successful candidates in last year’s Congressional elections, Democrats are talking more and more about the anemic growth in American wages and the negative effects of trade and a globalized economy on American jobs and communities. They deplore what they call a growing gap between the middle class, which is struggling to adjust to a changing job market, and the affluent elites who have prospered in the new economy. Senator Hillary Rodham Clinton, Democrat of New York, calls it “trickle-down economics without the trickle.”

Populism is hardly new in the Democratic Party. Al Gore vowed to fight for “the people versus the powerful” in his presidential campaign seven years ago, and Republicans have long accused the Democrats of practicing “class warfare.”

But the latest populist resurgence is deeply rooted in a view that current economic conditions are difficult and deteriorating for many people, analysts say, and it is now framing debates over tax policy, education, trade, energy and health care. Last week, Senate Democrats held hearings on proposals to raise taxes on some of the highest fliers on Wall Street, the people at the top of private equity and hedge fund firms.



Read more: http://www.nytimes.com/2007/07/16/us/politics/16populist.html?hp

This will be a huge issue in 2008. Real estate prices tanking while untold thousands of mortgage payments are due to 'reset' with ARM loans.

Groceries, gas, heat, healthcare all crippling the middle class.

Indeed the Democrats have the "kitchen table" issues to take control of DC.

Will they have the sense to capitalize on these issues? Time shall tell...

and the importation of foreign workers through the H1B visas. REAL policy that actually does something is all that matters. The robber barons will be stopped; their filthy obsessive wealth will NOT be accrued at the expense and demise of this entire damn nation and its people. HRC, YOU can sit down!

Kucinich built that bandwagon and it is now careening down main street like the bulls of Pamplona and it is aimed right at the crooks on Wall st who have stolen our democracy.