A barrage of economic data from the US demonstrates that the so-called economic recovery has well and truly croaked. Lay-off's and unemployment are amounting - already affecting at least 25 million working people - and set to rise.
Programs such as food stamps, home heating assistance, public health, housing aid - not to mention the very basic health care and pension provision for the elderly and very poor - are now set to be slashed just as millions more unemployed and underemployed Americans require them for their very survival.
The agreement now reached by Obama and leaders of Congress to raise the federal debt limit will mark a turning point in the class struggle in the United States. This is a deal that imposes sweeping cuts to vital social welfare that people depend on, and without a penny in tax increases on the corporations or the wealthy.
These class-war measures are being implemented under conditions of virtual economic collapse and the agreement was dictated by Wall Street. The bankers and corporate CEOs all the time wanted to avoid a default but used threats of one to slash social spending and open up a full-scale assault on social programs dating back to the 1930s.
The United States is in the grips of its gravest jobs crisis since Franklin D. Roosevelt was in the White House. They say that if you lose your job, it will take, if you're lucky nine months to find a new one, but many Americans have simply given up. But that doesn't mean that the fire has gone out. As the disastrous impact of social cuts are felt by all working people, social struggles will break out and into the open, hopefully during next years Presidential elections, that will pit the working class against the government and American ruling class. It's about time for a new anti-establishment political movement to counter the Tea Party Movement, essentially progressive rather than reactionary, and let the fury be directed at the people who caused the world economic collapse and those that did nothing to mitigate its worst effects!"