Bernard Guetta is one of the most famous and talented French journalists. And in one of his latest columns in the French weekly Marianne (21-27 June, 2008), after a long description of the welcome changes that Obama might bring to international politics he highlights the social and economic significance of the rise of the Democratic candidate. "It is on the economy that the U.S. voters will test Obama and on this point, Obama's campaign has a perfume of a novel era", Bernard Guetta writes. He accuses his rival of being the heir of an exhausted and false philosophy that has reigned in Washington for much too long".
For Mr. Guetta, this philosophy is Reaganism or Thatcherism, "a philosophy that says that the state is the problem and not the solution, that taxes kill taxes by hindering growth..
"Whereas John McCain proposes not to touch the tax cuts decreed by George Bush, Barack Obama proposes to redistribute wealth through taxation, a credo that has been forgotten or even repudiated by Western left parties. He wants to give again an economic role to the state. Obama rediscovers Keynes, goes back to the approach of the New Deal and re-imports into the US the foundations of European social-democracy. And, oh surprise, no one slams him in Washington as if he were an archaic Statist".
"After so many years of financial scandals in Wall Street, so many fiscal sweet presents to the richest, and so much downsizing of the workforce, Americans aspire for a return of a protective state that regulates and distributes, guarantees health coverage to all and fights climate change".
"Obama expresses the exhaustion of a cycle and this expectation, he concludes, is not a unique to America".
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