If you're running enormous deficits and don't have any economic growth to show for it, it doesn't matter how popular your social-spending programs are in the short run, as more than a few ex-Latin American leaders will be happy to attest. And what does make the Obama strategy misguided is that it looks increasingly like a substitute for a depression-fighting strategy - and what's worse, a substitute that has the potential to actually make matters worse, when Obama, liberalism, and America all desperately need things to get better.
Wednesday, March 4, 2009
Gambling With Liberalism's Future
Ross Douthat says that President Obama's popularity will diminish dramatically, as will liberalism's prospects, without an economic recovery: