What exactly does this short poem mean?

I would fathom that the "Teabaggers' is a reference to the new political cohort known as the Tea Party. Since they are neither Democrat or Republican (they're closer to Independents I suppose), one cannot be certain of the author's persuasion. If I had to guess I'd say the author is a Democrat since he/she also mentions the demise of social supports; something Republicans do not generally favor.