The Failure of Government: Word Is Out, Patience Wears Thin

by: Kimball Corson

Although the Declaration of Independence provides the government derives its “powers from the consent of the governed,” the new Rasmussen poll finds that just 21% of voters nationwide believe that the federal government enjoys the consent of the governed. 71% of all voters now view the federal government as a special interest group, and 70% believe that the government and Wall Street or Big Business typically work together in ways that hurt consumers and small investors. 87% of mainstream voters say Washington is broken.

75% of voters are angry at the policies of the federal government, and 63% say it would be better for the country if most members of Congress are defeated this November. The American people are “united in the belief that our political system is broken, that politicians are corrupt, and that neither major political party has the answers,” according to Scott Rasmussan, author of the new book, In Search of Self-Governance. Vice President Joseph Biden himself has said that “Washington right now is broken.”

60% of voters today think that neither Republican political leaders nor Democratic political leaders have a good understanding of what is needed for the nation. 35% say Republicans and Democrats are so much alike that an entirely new political party is needed to represent the American people. Nearly half of all voters think people randomly selected from the phone book could do as good a job as the current Congress.

Why should this not surprise us:

  1. Income and wealth have become ever more badly distributed recently, largely with the help and assistance of Congress acting on behalf of the wealthy,
  2. Too many, especially of the large middle and lower classes are unemployed or underemployed and suffering, while those on Wall Street and in Washington are prospering big time,
  3. As economist Dean Baker has explained, the result of the bank rescues has been “a massive redistribution of wealth to the bank shareholders and their top executives” and away from taxpayers,
  4. Two leading IMF officials, the head of the Federal Reserve Bank of Kansas City and the former Vice President of the Dallas Federal Reserve Bank have all claimed that the United States is now controlled by an economic oligarchy,
  5. Economic Nobel Laureate Joseph Stiglitz and others have called our current system “socialism for the rich,”
  6. Economist Dr. Michael Hudson contends the financial “parasites” are “sucking as much money out” of the system now as they can before “jumping ship” when it collapses,
  7. Warren Buffett claimed a few years ago that “There’s class warfare, all right, but it’s my class, the rich class, that’s making war, and we’re winning.”
  8. The infrastructure rebuilding program, which once geared up would have employed many, was scuttled at the behest of Wall Street and Larry Summers because it directed monies away from Wall Street,
  9. Aggregate demand has dropped because of the maldistribution of income and wealth, and this in turn has damaged the economy and the recovery,
  10. The wealthy have largely gotten so by actions in their favor by government officials; few can trace the growth of their wealth without noting government favors and assistance they obtained, directly or indirectly, along the way,
  11. The Tea Party crowd is now in disarray, but the common thread acceptable to all involved is that the federal government is failing the people. With an improved agenda, leadership and focus, things could radically change and likely will,
  12. Leaders such as Evan Bayh (D-Ind.), who's quitting the Senate in disgust, argue Congress is rife with "brain dead partisanship," and it is time for a third and independent party to come forward and actually represent the people, and
  13. Bill Moyers and Michael Winship argue that our government is not so much broken as it has simply been bought out from under us by lobbyists for the wealthy.

The patience of the electorate is running out and when it is gone, as it will be without reform for the better, the foundations of our institutions will shake and Wall Street and Washington will be the prime and deserved targets.

Disclosure: None relevant