Again...

Again, some media outlets (notably Forbes magazine and The O'Reilly Factor) are blaming budget crisis on politicians who "made pension promises to the public employee unions that cannot be met".

No mention whatsover that these pension funds were drained by a crashing stock market. They are trying to manipulate our anger and direct it to the politicians and to the unions and away from regulation of Wall Street. Wall Street does not want regulation.

O'Reilly says that Walker's Wisconsin is an example of how democracy works. Though he freely admits that the public is wary of Governor Walker's attack on unions. Governor Walker says his limiting of collective bargaining and paring down of union benefits will create 250,000 jobs.

Really?

Yes, this is the same supply side economics that reduced wages and benefits for workers over the last couple of decades and brought about at least one "jobless recovery". Shall we call Walker's move the last test of supply side theory?

O'Reilly says that if Walker fails to create those jobs that then he deserves to be voted out. Will he hold him accountable to that?

It is hard to see how paring down paychecks in Wisconsin will create the demand to support those new jobs.

Having O'Reilly swing his support to unions over supply-siders would be an interesting paradigm shift.

I have always suspected that O'Reilly, like many of the talking heads of the right, ride on the wave of resentment of the beleaguered working class purely for personal economic gain, while being the agents of big money. If the public anger begins to shift I think O'Reilly will go wherever it leads. The Fox Network makes big money by manipulating and riding public anger.

Like Dorothy in the Wizard of Oz, I think soon the American public will see the man behind the curtain in the Emerald City of capitalism. I think many of them have already. Perhaps ironically Governor Walker is to credit for making the contradictions of his economic theory more obvious.