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‘Bill Clinton signed the final death warrant of the Glass-Steagall Act.’ Photograph: Mike Segar/Reuters
‘Bill Clinton signed the final death warrant of the Glass-Steagall Act.’ Photograph: Mike Segar/Reuters

Clinton & co are finally gone. That is the silver lining in this disaster

This article is more than 7 years old

I am as frightened as everyone else about Donald Trump’s victory. But we must also recognize: this is a revolutionary moment

Hillary Clinton has given us back our freedom. Only such a crushing defeat could break the chains that bound us to the New Democrat elites. The defeat was the result of decades of moving the Democratic party – the party of FDR – away from what it once was and should have remained: a party that represents workers. All workers.

For three decades they have kept us in line with threats of a Republican monster-president should we stay home on election day. Election day has come and passed, and many did stay home. And instead of bowing out gracefully and accepting responsibility for their defeat, they have already started blaming it largely on racist hordes of rural Americans. That explanation conveniently shifts blame away from themselves, and avoids any tough questions about where the party has failed.

In a capitalist democracy, the party of the left has one essential reason for existing: to speak for the working class. Capitalist democracies have tended towards two major parties. One, which acts in the interest of the capitalist class – the business owners, the entrepreneurs, the professionals – ensuring their efforts and the risks they took were fairly rewarded. The other party represented workers, unions and later on other groups that made up the working class, including women and oppressed minorities.

This delicate balance ended in the 1990s. Many blame Reagan and Thatcher for destroying unions and unfettering corporations. I don’t. In the 1990s, a New Left arose in the English-speaking world: Bill Clinton’s New Democrats and Tony Blair’s New Labour. Instead of a balancing act, Clinton and Blair presided over an equally aggressive “new centrist” dismantling of the laws that protected workers and the poor.

Enough examples should by now be common knowledge. Bill Clinton signed the final death warrant of the Glass-Steagall Act (itself originally signed into law by FDR), removing the final blocks preventing the banking industry from gambling away our prosperity (leading to the 2008 recession). Bill Clinton also sold us on the promise of free trade. Our well-made American products were supposed to have flooded the world markets. Instead, it was our well-paid jobs that left in a flood of outsourcing. After the investment bankers gambled away our economy the New Democrats bailed them out against the overwhelming objection of the American people.

This heralded the Obama years, as the New Democrats continued to justify their existence through a focus on social causes that do not threaten corporate power. Or as Krystal Ball put it so powerfully: “We lectured a struggling people watching their kids die of drug overdoses about their white privilege.” Add to this that we did it while their life expectancy dropped through self-destructive behaviors brought on by economic distress.

This is not to deny the reality of structural racism or xenophobia or the intolerance shown to Muslims or the antisemitic undertones of Trump’s campaign. I am myself a person of color with a Muslim-sounding name, I know the reality and I am as frightened as everyone else. But it is crucial that our cultural elite, most of it aligned with the New Democrats, not be allowed to shirk their responsibility for Trump’s success.

So let us be as clear about this electoral defeat as possible, because the New Democratic elite will try to pin their failure, and keep their jobs, by blaming this largely on racism, sexism – and FBI director Comey. This is an extremely dangerous conclusion to draw from this election.

So here is our silver lining. This is a revolutionary moment. We must not allow them to shift the blame on to voters. This is their failure, decades in the making. And their failure is our chance to regroup. To clean house in the Democratic party, to retire the old elite and to empower a new generation of FDR Democrats, who look out for the working class – the whole working class.

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