Obama can bounce back

Over the next few months, the Republicans will have their time in the sun. On Tuesday, I’ll offer some thoughts on how they can seize the moment. But if Obama is to rebound, he is going to have to suppress his natural competitive instincts. If he gets caught up in the Beltway fight club, the Republicans will emerge as the party of limited government and he’ll emerge as the spokesman for big government — surely a losing proposition.

Instead, he will have to go out and do his own thing. That means every day reinforcing the following narrative: the Republicans are only half right. They want to cut things; I want to cut but also replace things. They want to slash government; I want to restructure it. They want destruction; I want renovation.

Companies like Ford cut wasteful spending while doubling down on productive investment. That’s exactly what the nation has to do over all. There have to be cuts, the president could say, in unaffordable pension commitments, in biofuel subsidies and useless tax breaks. But there also have to be investments in things that will produce a vibrant economy for our children: a simpler tax system with lower rates on investment; more scientific research; a giant effort to improve Hispanic graduation rates; medical courts to rationalize the malpractice system and so on. Instead of being disjointed, as he has been, the president will have to reinforce this turnaround story day after day.