The End of New Deal Liberalism - The Nation.
"American democracy has been conclusively conquered by American capitalism. Government has been disabled or captured by the formidable powers of private enterprise and concentrated
wealth. Self-governing rights that representative democracy conferred on citizens are now usurped by the overbearing demands of corporate and financial interests. Collectively, the corporate sector has its arms around both political parties, the financing of political careers, the
production of the policy agendas and propaganda of influential think tanks, and control of most major media.
What the capitalist system wants is more - more wealth, more freedom to do whatever it wishes. This has always been its instinct, unless government intervened to stop it. The objective now is to destroy any remaining forms of government interference, except of course for business subsidies and protections. Many elected representatives are implicitly enlisted in the cause.
A lot of Americans seem to know this; at least they sense that the structural reality of government and politics is not on their side. When the choice comes down to society or capitalism, society regularly loses."
From the page: "The deficit hysteria aimed at Social Security is fraudulent (as Obama's own experts acknowledge), but the president has already gravely weakened the program's solvency with his payroll-tax holiday, which undercuts financing for future benefits. Obama promises the gimmick won't be repeated, but if employment is still weak a year from now, he may well cave. The GOP will accuse him of damaging the economy by approving a "tax increase" on all workers. Senate Democrats are preparing their own proposal to cut Social Security as a counter to the GOP's extreme version. In the end, they can split the difference and celebrate another great compromise."