No one could accuse either William Galston or David Brooks of being shrill or wanting the president to fail. But both are worried that Obama is heading for disaster because he is trying to do too much. They argue that he needs to put the rest of his agenda on hold until the financial crisis has been resolved.
Galston warns that unless Obama focuses on solving the financial crisis, he risks becoming another Carter.
“The key analogy between today and 1933 is the centrality of the financial crisis, which makes it hard to understand why the administration has not yet moved as decisively to fix it as FDR did on the first day of his presidency. This issue could not have come as a surprise to Obama and his chief financial advisors. Their failure thus far to restore financial confidence raises two equally depressing possibilities: Either they do not know what to do, or they do not believe they can muster the political support to do what they know needs to be done.
Comments
Join the debate for just $5 for 3 months
Be part of the conversation with other Spectator readers by getting your first three months for $5.
UNLOCK ACCESS Just $5 for 3 monthsAlready a subscriber? Log in