It wouldn't matter whether Obama or Bush was in office; the only thing that was necessary was for the economic conditions to degrade precipitously, and for average Americans, who played by the rules, paid their taxes, paid their mortgages and credit card bills, to see that they were going to be punished and forced to bail out the most irresponsible, and in many cases, overcompensated people in our society.
Now that these responsible Americans see that they are at imminent risk of losing their stores, businesses, jobs and homes, due to a massively worsening economy, see that trillions of their tax dollars are being misappropriated and shipped to banks and financial institutions that helped ignite the fuse that led to the economic crisis, and now that they see that it does not pay to play by the rules nor go quietly into indentured servitude, there is going to be a mass movement at the grass roots level to basically ignore the structure and rules.
This is why the government is so eager to quickly pass the 'stimulus bill;' to try and stave off this reaction by hiring more people to the payrolls of government agencies, find the funding to avoid having to lay off presently employed government employees, and try and blunt the economic shock we're all about to experience (we have only felt the initial tremors so far).
2009 is the year people literally come to believe that it no longer pays to play by the rules, and become so incensed at the system and the unfair nature of what they see transpiring, that they actually take action.
The triggering event will be the steep decline in government revenues as the economy worsens, and the government both prints fiat currency and shift methods of collecting revenue (e.g. increases consumption taxes such as gasoline, sin and other consumption and use taxes) due to falling tax revenues based on income.
I truly believe it's possible (though I don't know with certainty) that this really is the reason 40,000 U.S. military personnel really were transferred to U.S. posts, and have now been trained for operations involving American Civilians. This really has taken place, although the government first tried plausible denial, and then shifted towards an explanation that borders on a 'homeland defense'/'1st responder' type scenario.
http://uk.reuters.com/article/latestCrisis/idUKLQ426001 While this year's meeting illustrates a shift in the balance of power towards governments, political leaders in Davos are likely to get a reminder that the crisis also threatens their own positions after recent civil unrest in several countries.
A new report from the U.S. Army War College discusses the use of American troops to quell civil unrest brought about by a worsening economic crisis.
The report from the War College’s Strategic Studies Institute warns that the U.S. military must prepare for a “violent, strategic dislocation inside the United States” that could be provoked by “unforeseen economic collapse” or “loss of functioning political and legal order.”
Entitled “Known Unknowns: Unconventional ‘Strategic Shocks’ in Defense Strategy Development,” the report was produced by Nathan Freier, a recently retired Army lieutenant colonel who is a professor at the college — the Army’s main training institute for prospective senior officers.
He writes: “To the extent events like this involve organized violence against local, state, and national authorities and exceed the capacity of the former two to restore public order and protect vulnerable populations, DoD [Department of Defense] would be required to fill the gap.”
Freier continues: “Widespread civil violence inside the United States would force the defense establishment to reorient priorities in extremis to defend basic domestic order … An American government and defense establishment lulled into complacency by a long-secure domestic order would be forced to rapidly divest some or most external security commitments in order to address rapidly expanding human insecurity at home.”
International Monetary Fund Managing Director Dominique Strauss-Kahn warned last week of riots and unrest in global markets if the ongoing financial crisis is not addressed and lower-income households are beset with credit constraints and rising unemployment, the Phoenix Business Journal reported.