Chavez Versus Obama – Facing Presidential Elections In 2012

By James Petras
9-17-11

Introduction

Two incumbent presidents are running for re-election in 2012, Hugo Chavez in Venezuela and Barack Obama in the United States. What makes these two electoral contests significant is that they represent contrasting responses to the global economic crises: Chavez following his democratic socialist program pursues policies promoting large scale long-term public investment and spending directed at employment, social welfare and economic growth: Obama guided by his ideological commitment to corporate financial capitalism, pours billions into bailing out Wall Street speculators, focuses on reducing the public deficit and slashes taxes and offers government subsidies to business in the hope that the banks will lend, the private sector will invest.

Chavez Versus Obama – Facing Presidential Elections In 2012

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