One day after President Barack Obama called for moving forward on trade authority in his State of the Union address, Senate Majority Leader Harry Reid (D-Nev.) declared, “I am against fast track,” and said he had no intention of bringing it to a vote in the Senate.
Reid’s announcement came after 550 organizations, representing virtually the entire organized base of the Democratic Party outside of Wall Street, called on Congress to oppose fast track. Though obscured by the Democrats’ remarkable unity in drawing contrasts with the Tea Party-dominated Republicans in Congress, the debate between an emerging populist wing of the Democratic Party and its still-dominant Wall Street wing is boiling.
For a constantly disputatious “big tent” party, Democrats are remarkably unified behind the jobs and inequality agenda the president ticked off in his State of the Union address — raising the minimum wage, immigration reform, paycheck fairness for women, paid family leave, investment in infrastructure, education and research and development, and an “all of the above” energy strategy. Republicans block action on all these relatively modest reforms, providing ammunition for Democrats in the November midterm elections.
But beneath this surface calm, there is a growing divide within the Democratic Party over what might be considered the tectonic plates of our political economy, a debate that has only begun to surface. Here are some of the core divisions:
Passive or Active Voice Populism
Since Occupy Wall Street, inequality has been Topic A, hardly surprising in an economy where the top 1 percent is capturing 95 percent of the income growth coming out of the Great Recession. The president weighed in, calling inequality the “defining challenge of our time.”