Has Barack Obama’s presidency already failed? In normal times, this would be a ludicrous question. But these are not normal times. They are times of great danger. Today, the new US administration can disown responsibility for its inheritance; tomorrow, it will own it. Today, it can offer solutions; tomorrow it will have become the problem. Today, it is in control of events; tomorrow, events will take control of it. Doing too little is now far riskier than doing too much. If he fails to act decisively, the president risks being overwhelmed, like his predecessor. The costs to the US and the world of another failed presidency do not bear contemplating.
What is needed? The answer is: focus and ferocity. If Mr Obama does not fix this crisis, all he hopes from his presidency will be lost. If he does, he can reshape the agenda. Hoping for the best is foolish. He should expect the worst and act accordingly.
Of course, I reject outright the premise that the president, or congress, must "do something," i.e., massive government meddling in order to avert disaster, as they define the term, since interventionist machinations are exactly what have brought us to this point in the first place. Liberals, true to form, are peddling this crisis to rationalize every big government policy they can conjure up in their caucusing, all the while telling the rest of us that it is absolutely necessary.
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