The key of demagogic politics is to realize that the people who are really backing you are your campaign funders. Your job as a politician is to say, “I can deliver this constituency." Obama was a genius at doing what Donald Trump is trying to do today: taking a constituency. That’s his column A: a focus group listing everything the constituency wants. They want debt relief. They want better jobs. They want higher minimum wage.
And then column B, that Obama didn't tell them, was what the campaign backers on Wall Street want. Obama was picked essentially by Robert Rubin, who then became head of Citibank after having come out of the Goldman Sachs. Obama was picked by Rubin of Wall Street to promise was he was going to really do. It was what any president today is going to do: A politician’s job is to deliver whoever voted for you to your backers, who are on Wall Street. Whether you are a Republican or a Democrat, but especially if you are a Democrat – that’s really the Wall Street wing of the American political system. The Republicans are for the corporate monopoly, oil and gas wing of it. More