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Wall Street Gets Bailed Out, Philly Gets Thrown Out

By Sean West (Philly NEFAC)

Despite news of a massive economic crisis sounding throughout the nation, we in Philly seemingly got a break from the bad news in the later weeks of October into November. We partied. The Phil’s won the World Series, resulting in wild, rowdy festivities up and down Broad Street (and a wee bit of rioting). Halloween celebrations went off across the city with their usual flair and fun. Then, in early November the wild street parties went off again when the election of Barack Obama on Tuesday, November 4th brought to an end eight years of neoconservative rule.

Then, announcing a sweeping round of cuts to social services and city government to balance the budget, Mayor Nutter crashed the party on November 6th. . I’ll be fair and say that the budget crisis is not entirely of the Mayor’s making. He’s dealing with an economic crisis brought about by the misdeeds and quest for profit-at-any-expense brought about by Wall Street, major financial institutions, and the rich, which is now hitting home in many major American cities and municipalities. Wall Street has been bailed out while working people have been thrown out of their homes and jobs, have left college for lack of tuition and cities have been left to fend for themselves.

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