Obama's Strategic Failure
This could be the beginning of the end.
Last Friday, Obama tried to pressure Congress by warning:
It is inexcusable and irresponsible for any of us to get bogged down in distraction, delay or politics as usual, while millions of Americans are being put out of work. Now is the time for Congress to act. It’s time to pass an Economic Recovery and Reinvestment Plan to get our economy moving.Yet arguably, this is precisely what Obama and his administration have done: They waited too long, failed to define the debate, and made unnecessary preemptive concessions. The result is too little, too late, and mostly wrong. In the worst case, this will not only fail to stimulate the economy, but might also lead to a weakening of the Democratic majority in 2010 and to Obama's premature exit in 2012.
As Paul Krugman points out in his latest column, 'The Destructive Center,' it was the failure of Obama's political strategy that led to the failure of his economic strategy, which the next few years are all too likely to most painfully confirm.