Welcome to the Vitus Capital Blog!
Notes to myself, possibly of interest to others.
-- Bill Northlich

Wednesday, August 4, 2010

Tippecanoe and Tyler too: Deflation and Inaction as far as the eye can see

Whatever the outcome of the upcoming midterm elections, the activist phase of the Obama administration has likely come to a close. The President may have a fight on his hands even to hold on to what he’s already achieved because his legislative successes have been large enough to fuel strong opposition but not big enough to strengthen his support. The result could be disastrous for him and congressional Democrats...

Despite the remarkable capacities he displayed during the 2008 campaign to inspire and rally Americans behind him, as president [Obama] has for the most part opted for an inside game.

Perhaps he didn’t want to risk what he could achieve through inside deals. Maybe by temperament or inclination he is more comfortable with compromise than conflict. It’s possible he implicitly traded a more ambitious domestic agenda for Republican support on foreign policy. Or perhaps he has sensed the increasing polarization of the electorate and didn’t want to further exacerbate it.

Any or all of these hypotheses may be true, but the undeniable consequence has been to erode the capacity of the president and his party to accomplish much more from here on. Still, it is far too early to write an epitaph for the Age of Obama. He may yet surprise. He is, as he reminds us, a most improbable president.
---R Reich, 8/3

No comments:

Post a Comment