Rising Left in the Democratic Party Killed Larry Summer’s Fed Chair Chances

[Melinda]

53. Link to article "Rise of the new left". It's long, but worth every moment!

The Rise of the New left

Maybe Bill de Blasio got lucky. Maybe he only won because he cut a sweet ad featuring his biracial son. Or because his rivals were either spectacularly boring, spectacularly pathological, or running for Michael Bloomberg’s fourth term. But I don’t think so. The deeper you look, the stronger the evidence that de Blasio’s victory is an omen of what may become the defining story of America’s next political era: the challenge, to both parties, from the left. It’s a challenge Hillary Clinton should start worrying about now.

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The argument between the children of Reagan and the children of Clinton is fierce, but ideologically, it tilts toward the right. Even after the financial crisis, the Clinton Democrats who lead their party don’t want to nationalize the banks, institute a single-payer health-care system, raise the top tax rate back to its pre-Reagan high, stop negotiating free-trade deals, launch a war on poverty, or appoint labor leaders rather than Wall Streeters to top economic posts. They want to regulate capitalism modestly. Their Reaganite Republican adversaries, by contrast, want to deregulate it radically. By pre-Reagan standards, the economic debate is taking place on the conservative side of the field. But—and this is the key point--there’s reason to believe that America’s next political generation will challenge those limits in ways that cause the leaders of both parties fits.

America’s youngest adults are called “Millennials” because the 21st century was dawning as they entered their plastic years. Coming of age in the 21st century is of no inherent political significance. But this calendric shift has coincided with a genuine historical disruption. Compared to their Reagan-Clinton generation elders, Millennials are entering adulthood in an America where government provides much less economic security. And their economic experience in this newly deregulated America has been horrendous. This experience has not produced a common generational outlook. No such thing ever exists. But it is producing a distinct intragenerational argument, one that does not respect the ideological boundaries to which Americans have become accustomed. The Millennials are unlikely to play out their political conflicts between the yard lines Reagan and Clinton set out.

^^^THIS^^^ gives me hope. The entire article is long, but a great read. I hope it lifts you up too.