A couple of years ago, I wrote about the importance of Presidents being correct on the “big things.” It’s one of my better posts. I showed concern for Obama being another punchlist President (other than his being the first black President) like Clinton or Carter or Ford. And he was well on his way to doing that in early 2008.
When I wrote that post, Iraq was still important as a controversy. The 2006 election had just passed. Since then a vast consensus on withdrawal has emerged. Global warming is still the issue of the century, and it hasn’t received as much attention as it should in the last little while, but there’s a good reason for that:
The economy has collapsed.
If policymakers’ macroeconomic skills were on par with the Hoover era, we would be in a depression for sure now. There’s still some doubt. But the economy in a meltdown, instead of a mild recession is a gatekeeper issue. Most people aren’t going to give a shit about anything else in circumstances like this.
So I’m glad to see today that Obama’s proposed economic stimulus appears to have him be correct on Big Thing #1.