From the Economist's latest editorial. The Economist endorsed Obama. This sounds like creeping buyer's remorse to me:
Lead, dammit
There are some signs that Mr Obama’s administration is learning. This week the battered treasury secretary, Tim Geithner, has at last come up with a detailed plan to rescue the banks (see article and article). Its success is far from guaranteed, and the mood of Congress and the public has soured to the point where, should this plan fail, getting another one off the drawing-board will be exceedingly hard. But the plan at least demonstrates the administration’s acceptance that it must work with the bankers, instead of riding the wave of popular opinion against them, if it is to repair America’s economy. And it’s not just in the domestic arena that Mr Obama has demonstrated his willingness to learn: on Iraq, he has intelligently recalibrated his views, coming up with a plan for withdrawal that seeks to consolidate the gains in Iraq while limiting the costs to America.
But Mr Obama has a long way to travel if he is to serve his country—and the world—as he should. Take the G20 meeting in London, to which he will head at the end of next week. The most important task for this would-be institution is to set itself firmly against protectionism at a time when most of its members are engaged in a game of creeping beggar-thy-neighbour. Yet how can Mr Obama lead the fight when he has just pandered to America’s unions by sparking a minor trade war with Mexico? And how can he set a new course for NATO at its 60th-anniversary summit a few days later if he is appeasing his party with talk of leaving Afghanistan?
In an accomplished press conference this week, Mr Obama reminded the world what an impressive politician he can be. He has a capacity to inspire that is unmatched abroad or at home. He holds a strong hand when it comes to the Democrats, many of whom owe their seats to his popularity at last year’s election. Now he must play it. |
