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Friday, April 01, 2016

Paul Krugman: Learning From Obama

 "The lesson of the Obama years":

Learning From Obama, by Paul Krugman, Commentary, NY Times: Like many political junkies, I’ve been spending far too much time looking at polls... But the primaries aren’t the only things being polled; we’re still getting updates on President Obama’s overall approval. And ... his approval has risen sharply while disapproval has plunged. ... What’s going on?
Well, one answer is that voters have lately been given a taste of what really bad leaders look like. But I’d like to think that the public is also starting to realize just how successful the Obama administration has been...
I know that it’s hard for many people on both sides to wrap their minds around the notion of Obama-as-success. On the left, those caught up in the enthusiasms of 2008 feel let down by the prosaic reality of governing in a deeply polarized political system. Meanwhile, conservative ideology predicts disaster from any attempt to tax the rich, help the less fortunate and rein in the excesses of the market...
But the successes are there for all to see.
Start with the economy..., it’s important news if the economy has performed well. And it has..., just imagine the boasting we’d be hearing if Mitt Romney occupied the White House.
Then there’s health reform, which has (don’t tell anyone) been meeting its goals. ...
Then there’s financial reform, which the left considers toothless and the right considers destructive. In fact, while the big banks haven’t been broken up, excessive leverage — the real threat to financial stability — has been greatly reduced. And as for the economic effects, have I mentioned how well we’ve done on job creation?
Last but one hopes not least, the Obama administration has used executive authority to take ... very significant action on climate change.
All in all, it’s quite a record. ...
The 2008 election didn’t bring the political transformation Obama enthusiasts expected, nor did it destroy the power of the vested interests: Wall Street, the medical-industrial complex and the fossil fuel lobby are all still out there, using their money to buy influence. But they have been pushed back in ways that have made American lives better and more secure.
The lesson of the Obama years, in other words, is that success doesn’t have to be complete to be very real. You say you want a revolution? Well, you can’t always get what you want — but if you try sometimes, you just might find, you get what you need.

    Posted by on Friday, April 1, 2016 at 06:38 AM in Economics, Politics | Permalink  Comments (56)


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