Conservatives are right: Obama's starting to look like Jimmy Carter

To be sure, there are a number of very specific reasons why Carter and Obama landed in political trouble. Both men contended with rising unemployment–Carter with rampant inflation as well–and voters’ approval of a president and his party tend to track closely with changes in the economy. Carter faced friction in his own party and the rise of a powerful business lobby, and Obama has dealt with a Republican Party that has frustrated his dreams of a post-partisan presidency. Yet the most important reason for their difficulties–evident in their inept attempts to brand their programs–has been an inability to develop a politics that resonates with the public…

These efforts to elevate Obama above the hurly-burly of Washington politics have been disastrous. Obama’s image as an iconic outsider has become the screen on which Fox News, the Tea Party, radicalright bloggers, and assorted politicians have projected the image of him as a foreigner, an Islamic radical, and a socialist. He has remained “the other” that he aspired to be during the campaign, but he and his advisers no longer control how that otherness is defined.

The White House and cabinet officials he appointed have reinforced his aversion to populism. As Jonathan Alter recounts in The Promise: President Obama, Year One, Geithner and Summers repeatedly blocked attempts to get tough on Wall Street on the grounds that doing so would threaten the recovery itself by upsetting the bankers. For most of his first year, Alter writes, “Obama bought the Geithner-Summers argument that the banks were fragile and couldn’t be confronted while they remained in peril.” Its reluctance to come down on the bankers crippled the administration politically, making it far more difficult for it to get its way with Congress on a second stimulus program that would have boosted the recovery and Democrats’ political prospects. Bad politics can trump good policy.