"Centrism"
'Economically they’re already obsolete. The Clinton/Third Way/Democratic Leadership Council ideology – which typically markets itself as “centrism,” even though its economic policies are far to the right of public opinion – was thoroughly discredited by the financial crisis of 2008. That crisis was caused in large part by Wall Street deregulation which they pushed, and it exacerbated the growing wage inequality and loss of social mobility which has devastated middle class and lower-income Americans.
'And yet, their brand of Wall Street-friendly “centrism” made a remarkable comeback after 2008, thanks in large part to the Obama White House’s influence on the Democratic Party – and to corporate money’s influence on the political process. Five years after the crisis, the entire nation is still seeing the disastrous effects of their economic policies on our nation’s most intractable issues: unemployment, wage stagnation and the lack of opportunity for most Americans.'