Or: What President Obama Could Learn from Hollande
Socialist Francois Hollande defeated incumbent Nicolas Sarkozy in France's presidential race, setting up a run off between the only two of ten left standing after a contentious first round. With an astonishing turnout of over 80% voter participation, the Left leaning Hollande embarrassed President Sarkozy by handing a sitting French President the first time ever loss in the first round of voting.
Not only did Hollande make history in his victory, but his success may be the harbinger of populism gaining strength in Europe and beyond. Rejecting growth stifling austerity measures as the primary means of approaching the Euro currency crisis while promising to renegotiate the Sarkozy-Merkel strategy for attacking Europe's economic woes, signals an unmistakable return to a people first concept of French governance.
As austerity became the preferred means to tackling current and projected social commitments by upper earning conservative voices influencing the process, the people of Europe from Greece to Spain to France and the UK appear to be challenging them at the ballot box as well as in the streets. The United States seems to be lagging behind in politically protesting severe spending cuts while taxing the wealthy remain taboo.
Fortunately for Barack Obama, his core message of "fairness" presents a stark contrast to his Republican opponent whose made his bones in business by cutting jobs for profit. Since the American President's challenger is having difficulties shedding his image of a "let them eat cake disconnect", Barack Obama will benefit immensely by consistently and constantly reminding the US electorate how a balanced approach to spending cuts and revenue generation is the answer to long term and sustained growth.
The President's efforts to create opportunities for the individual and small business while taking a humane approach to salvaging some form of a social safety-net will resonate as positively with American voters as it seems to be impacting Europeans. Since many of those efforts have had to come by way of executive order Republicans risk being seen as simply running interference for the rich by obstructing progressive measures to shore up the middle class.
By rejecting Paul Ryan's draconian economic recovery plan, which by design will savage most programs in place to assist and protect lower, middle class and senior citizens, President Obama's message of fairness lines up to respond more favorably to a populace hungering for an even break. The undercurrents of dissatisfaction brewing among Americans is syncing up with global trends.
The idea of an elitist representing the elite managing to convince a majority of Americans to tighten their belts, while those controlling the lion's share of the nation's wealth gets a pass on contributing anything is counterintuitive in this "clash of the classes" environment. We think this win for Francois Hollande is a preview of America in November.
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