The One-Term President

Sunday Paper - November 7th, 2010

President Obama has lost more than the midterm election. He has lost his moral and political legitimacy. On Tuesday, voters repudiated Mr. Obama’s socialist policies. The Democrats lost the House of Representatives in a historic landslide. The GOP picked up at least 60 seats. In the Senate, the Democratic majority has been substantially reduced. The liberal governing agenda is dead.

Mr. Obama misread his 2008 electoral mandate. The president embarked upon erecting a European entitlement state. Rather than fixing the economy, he chose the path of personal glory - and hubris: cementing his reputation as the most radical president in U.S. history.

Mr. Obama’s presidency is a watershed. He is a revolutionary who has openly called for transformative change. And the history books will show that during the first few years of his administration, he - at least temporarily - accomplished it.

His $814 billion stimulus was a radical experiment in neo-Keynesianism. The federal government essentially has nationalized the auto sector, the insurance industry, the banking system and the student loan business. Financial regulatory reform has enshrined “too big to fail,” making bailouts a permanent feature of the economy. The Environmental Protection Agency ruled that carbon is a “pollutant,” paving the way for massive environmental regulations on industry and manufacturing. It achieves the seminal goal of “cap-and-trade” - reducing carbon emissions and driving up the costs of energy use - through the back door.

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In addition, public spending accounts for 25 percent of gross domestic product (GDP). Mr. Obama’s trillion-dollar budget deficits are burying America under a mountain of red ink. The national debt is approaching 100 percent of GDP - a level from which no nation can recover. We are on the verge of bankruptcy.

In short, Mr. Obama has left his progressive mark. Many liberals will look back upon the first half of his term as a kind of golden age - the culmination of New Deal-Great Society liberalism. The Democratic Party has been captured by post-1960s radicals and ideological fanatics.

However, in the face of a humiliating defeat, Democratic leaders are unable - and unwilling - to admit they need to change course. In Wednesday’s news conference, Mr. Obama stubbornly insisted that his key decisions had been “tough” but “right.” The White House spin is that voters were frustrated with the ailing economy and the slow pace of recovery. True - to some extent.

But what the electorate understands - and Mr. Obama does not - is that his policies have made things much worse…

by Jeffrey T. Kuhner

Read more at Washington Times - November 4th, 2010

http://www.washingtontimes.com/news/2010/nov/4/the-one-term-president/

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