Bill Clinton became a "New" Democrat. He cut welfare, kept the high penalties for crack compared to powdered cocaine, and was going to cut social security until Monica intervened. He enabled the bankers by removing Gram-Schmidt controls. Because of globalization labor had less clout so he needed a more reliable source of funding. Democrats since Clinton have followed his lead. Republicans have old business corporations, and Democrats the new technocrat billionaires and some Wall St hedge funds. The working class traditional Democrat constituency have no representation. Liberals tout innovation and talk frequently about innovators as if that a path that workers whose jobs have vanished can take. Instead of jobs liberals promise inclusiveness for minorities and sexes which is nice but avoids the real economic issues.
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