“In the midst of this bonfire of inanities, President Obama is pressing ahead with a $3.6 trillion budget, predicated on utterly unrealistic economic growth, even as the Congressional Budget Office is now projecting that this year’s deficit will soar past $1.8 trillion, 13 percent of the US economy. This would amount, as the Washington Post reports, to ‘the deepest well of red ink since the end of World War II.’ According to the Post, the CBO is warning, ominously, that the result of this kind of borrowing and spending could lead to an exponentially expanding national debt that would ‘exceed 82 percent of the overall economy by 2019.'”
President Obama came to office proclaiming that he aims to solve problems, not hand them on to our children. Most presidents say that sort of thing. But now we are in very dire straits, and that being the case, he will be held to account. It’s your legacy, sir, and let’s not hear any more about ‘inheriting the crisis.’ You asked for the job. Meanwhile, let us hope that his talent for mastering a sérieux financial crisis are not on a level with the Special Olympians of Wall Street, and Congress.”
“Thus, bipartisanship is of little political use to him now. As a rallying cry against the Bush administration, which pulled the policy needle to the right, it was extremely helpful. However, not any more. When the ‘old categories’ suddenly give you an opening, why ‘transcend’ them? Why court the other side, which will only slow you down and moderate your programs? Instead, the politically savvy move is to do exactly what Obama has done: stuff bipartisanship, see how much you can squeeze out of Congress before the next ‘correction,’ and get your name into the history books.
I expect politicians of both parties to do this. Their commitment to bipartisanship is typically situational: they praise it when they’re in the minority, then forget it when they’re in the majority. Of course, Obama promised to be above politics as usual. That’s why he pursued his party’s nomination against Hillary Clinton, whose experience was greater but who had the ‘taint’ of politics on her. Obama didn’t have the taint, and assured us he never would.