Legendary consumer advocate Ralph Nader says the election gave President Barack Obama a new mandate and that he should “stand firm” against Republicans on the budget.
Obama actually has corporate America on his side, the former independent presidential candidate tells Yahoo. “Big business and Wall Street really want a deal, and they’re pouring pressure on Republicans in the House and Senate.”
So if Obama “stands firm and doesn't compromise the way he has in the past, the big business lobbyists will basically tell the Republicans they've got to come to the table," Nader says.
Editor's Note: Economist Unapologetically Calls Out Bernanke, Obama for Mishandling Economy. See What They Did
“It’s up to Obama to get stronger. Maybe he should look at LBJ [President Lyndon Johnson] tapes, which showed how he dealt with Republicans when he was in office.”
Nader thinks Democrats don’t have to accept any cutbacks in Social Security and Medicare, because voters will back them on these issues.
It’s not clear how that squares with the fact that Mitt Romney won the support of 56 percent of voters aged 65 and over, according to exit polls.
Nader thinks defense spending should be cut, and he would like to see increased tax payments by corporations.
David Wasserman of the Cook Political Report tells Voice of America that Congress has a higher chance to reach a significant budget agreement in the lame-duck session than starting in January.
That’s because the new Congress will be even more divided than the last one, as moderates exit the body.
Editor's Note: Economist Unapologetically Calls Out Bernanke, Obama for Mishandling Economy. See What They Did
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