http://smirkingchimp.com/thread/gerard-pierce/36273/understanding-the-strategy-of-the-democratic-power-classThis article was copied from a posting by Ives Smith at Naked Capitalism - where she extracted it from one of Matt Stoller's earlier postings. I would have simply posted a link, but I was unable to find a direct reference to his comments.
I think this article is very important - so here it is:
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By Matt Stoller, the former Senior Policy Advisor for Rep. Alan Grayson. His Twitter feed is @matthewstoller
Since the 1970s, Democratic elites have focused on breaking public sector unions and financializing the economy. Carter, not Reagan, started the defense build-up. Carter, not Reagan, lifted usury caps. Carter, not Reagan, first cut capital gains taxes. Clinton, not Bush, passed NAFTA. It isn’t the base of the Democratic party that did this, but then, voters in America have never had a lot of power because they are too disorganized. And there wasn’t a substantial grassroots movement to challenge this, either.
More at the link --