Obama's problem was the fact that the financial system was more or less salvaged. If it had collapsed, then a new deal of social and political legislation could have been enacted with unstinting praise. As it is, we still think we got the right stuff.
Once we did; not so much anymore.
Obama's return will come after the Coming Republican Debacle, and my schedule says 2014 - 2016 is when the wheels fall off.
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It was Bush that got us here. Remember it was Goldie Sacs Paulson who said that the sky would fall if the taxpayers didn't put up $700 billion to bail Wall Street out. I'm wondering if the sky would have really fallen. Wall Street is still screwing us all over. And for that we got the privilege of driving the whole economy into a ditch. How does that work?
Political discourse at the present time is rather like the Captain and staff of the Titanic (in the first moments post-impact) arguing whether to get the lifeboats ready.
There is the unquenchable pull of memory that tells us this is a temporary blip. It is temporary, but the time must now be defined in "generations" rather than "fiscal quarters".
We believed our own PR.
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