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Obama: Wall Street is Squeezing Main Street

The President polarizes the political debate once again, diverting attention from his dismal economic performance and increasing his chances of getting reelected, argues Times columnist Doyle McManus.

In a talk at in November 2010, veteran Newsweek columnist Jonathan Alter warned that although President Obama spent hundreds of billions of dollars on the federal stimulus package and helped avert a global financial meltdown, his political fate would be sealed unless he succeeded in getting the national economy back on track.

In his lecture, titled “Can Obama Get His Groove Back?” which you can read about by clicking this link, Alter also argued that for all his brilliance on the 2008 campaign trail, Obama suffers from a surprising lack of effective communication skills. The professor-in-chief in the president, said Alter, betrays a disdain for sound bites, which can be deadly in politics.

Lately, however, Obama appears to be putting his talent for political populism to good use. According to Los Angeles Times columnist Doyle McManus, the president renewed his long overdue conversation with disgruntled voters in a speech in Kansas this past week by framing the 2012 presidential election as a stark choice between two political philosophies.

“His message—that Main Street has been squeezed by Wall Street and that the future will be even bleaker unless we raise taxes on the wealthy and invest in education, science and infrastructure—isn't new,” write McManus in a Times op-ed on Sunday. “But the president put it in a sharper, more moralistic framework than he has offered during most of his first three years in office.”

Click here to read McManus’s article about the potential rewards and pitfalls that Obama can expect from polarizing the political debate—and why it's unclear how his strategy will play out with independent voters who are the real deciders of political fortunes in present-day America.

Jim December 11, 2011 at 10:46 pm
The only thing squeezing Main Street is Obama and his regulations, czars, Anti Business, class warfare policies and rhetoric... Not to mention he rarely tells the truth....
jayres December 11, 2011 at 11:37 pm
As a conservative, readers probably already know why I don't think Obama deserves another 4 years, but if I were a liberal, I think I would be even more disappointed. Obama may be talking the talk as a populist fighting for main street against Wall street. The only problem is he refused to push meaningful financial reform and passed a watered down compromise that has no real teeth. Maybe that's why he blasts Wall Street then takes Air Force One up to New York to raise campaign funds from the Wall Street "fat cats", who gave Obama more money than any other candidate ever, last time around.
But beyond that, Pres Obama, and 2 year Dem super majority in congress failed to pass the public option(or even put it up for a vote/caved early), he tripled troop levels in Afghanistan, renewed the Patriot Act, failed to close Gitmo, failed to pass comprehensive immigration reform, re-upped on the Bush tax cuts for the rich(even tried to call them the Obama tax cuts), he doesn't support gay marriage or medical marijuana, he hasn't help slow the foreclosure rate, unemployment is high and economic outlook is low. All the promises he made and could not accomplish with huge democrat numbers in congress, will be impossible now that Republicans run the house, and will soon control the Senate. He couldn't get it done then, it will only be more of a disappointment the next four years(if the American people and the economy can even bare it).
Jim December 11, 2011 at 11:42 pm
The tax cuts for . the rich really weer not.. The middle class and lower incomes received much larger tax decreases than the wealthy..It is just not convenient for the press and the democrats to mention that because it gets in the way of their class warfare agenda..
Jim December 11, 2011 at 11:46 pm
Thank Goid the public option did not pass.. Now the supremes have to deem the whole thing unconstitutional and throw it out.. It has NOTHING to do with healthcare.. It has everythig to do with the government taking control of 20% of the economy... If you think Obama or anyone in Washington cares about the People, you are sadly mistaken... Obama is a thug bought and paid for by other thugs, the unions...
John Goldfarb December 12, 2011 at 11:07 am
That's the first time I've ever heard Obama referred to as a thug, but then I'm not a fan of Newsmax.com, Faux News, or the Koch brothers.
Jan Freed December 27, 2011 at 12:52 am
Rarely tells the truth? Check Politifact and compare his record with ANY republican candidate.

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marr June 17, 2013 at 01:36 pm
Have seen some posters on telephone poles...looks like they're starting June 30. I think it was alsoRead More in an email from Huizar's office.
Greg June 7, 2013 at 07:12 am
Eagle Rock Patch is probably not where you want to post this. I don't think anybody is interested inRead More seeing more hillside homes.
Hulga June 7, 2013 at 01:11 pm
No one wants more fugly McMansions in beautiful Eagle Rock.
Lydia S.C. June 13, 2013 at 12:45 pm
Appreciate the input, and well received. Thank you.
Ajay Singh (Editor) June 6, 2013 at 12:44 am
Mj: Any witnesses to this incident will probably be key to your attempts to prove your son is notRead More lying. You might want to consider speaking to the parents of the student witnesses to try to ensure that the students will come forward and testify if necessary. If the parents can write—or sign—letters supporting your son's version of events, all the better. Get the letters notarized and send them to the concerned authorities, including at LAUSD and LAPD.
nonoise June 11, 2013 at 07:43 am
Hope you have phone insurance for stolen phones. If not you can file for a claim with LAUSD.
Christina Mc Donald June 16, 2013 at 09:11 am
that is awful when you can't even trust a teacher. I hope somehow she will be held responsible. IRead More feel your frustration. my 7th grade daughter had her i pod stolen off her desk by another student in March, she only had it 2 1/2 months. $300 gone
Elijah H June 3, 2013 at 08:43 pm
Looks as though other Patch editors have removed this from their local Patch listings. Looks like aRead More good precedent to follow:
Elijah H June 3, 2013 at 08:44 pm
Jessica E. Davis moderated article E-course for Weight Loss in E-course for Weight Loss June 3, 2013Read More at 05:35 pm Nicole Mooradian moderated article E-course for Weight Loss in E-course for Weight Loss June 3, 2013 at 05:07 pm David Gurliacci moderated article E-course for Weight Loss in E-course for Weight Loss May 31, 2013 at 04:10 pm Henry Powderly moderated article Free e-course for weight loss in Free e-course for weight loss May 1, 2013 at 10:37 am Geoffrey Walter moderated article Free e-course for weight loss in Free e-course for weight loss April 30, 2013 at 09:16 pm Brendan J. O'Reilly moderated article Free e-course for weight loss in Free e-course for weight loss April 30, 2013 at 08:57 pm
EagleRockMom June 2, 2013 at 07:26 am
I have some questions about this camp: 1. What are the ages kids need to be in order toRead More participate? 2. What are the planned camp themes and activities? 3. How much does this camp cost? 4. Are the camp counsel ours CPR and First Aid certified? 5. Are the camp counselors trained in appropriately managing children? 6. Do the camp counselors have stringent background FBI checks and drug tests?
Scott Martin-Rowe June 4, 2013 at 08:18 pm
Maybe they're moving to the space next door to the Comic Book shop. I'd say that there is a 50/50Read More chance that place becomes a massage parlor. Now that the bike lanes are decided, we need to come together to get these "rub and tug" joints closed.
Scott KS June 7, 2013 at 08:25 am
By the posting I'm assuming that this was known to be a "bad place." I see a lot ofRead More massage "parlors" in the Eagle Rock and Glassell Park area but not a lot of real professional CMT's, which is discouraging since that's my cert and trade.
Elijah H June 7, 2013 at 10:58 am
I'm thinking that this may have something to do with it - from the "Grand Theft Auto"Read More story posted today: "In addition, the vice unit of the LAPD Northeast Community Station arrested four women for alleged prostitution during recent investigations of 10 massage parlors in Eagle Rock, Preciado said. Two others were arrested for running massage parlors without a state massage therapy license, Preciado said, adding that the vice unit has not released the addresses where the 10 massage parlors are located. "
Otto SANTA ANA May 30, 2013 at 10:52 am
We in Eagle Rock are very lucky to have a journalist of your caliber keeping us informed!
Hart Fisher June 4, 2013 at 12:31 am
Ajay's a paid political flack. Journalist? Hardly. Paid political blogger. He's nothing more thanRead More Jose Huizar's paid flunky. Hey Ajay... How much you get paid for political work on the campaign? How much you gettin' paid for your biased vehicle removal coverage? We're curious... You paying taxes on that? "You don't get to vote. Your vote doesn't count." Jose Huizar. to the citizens of Eagle Rock. http://1201beyond.com/archives/hart-attack/hart-attack-004.mp3
Scott Martin-Rowe June 4, 2013 at 08:30 pm
Mr. Fisher, don't you need to work on your 65,000 member podcast blog? Why waste your time trollingRead More The Patch when you obviously question its credibility?