"I am puzzled that anyone can claim to be puzzled by the collapse of the popularity of the Obama Presidency (which I have been tracking and talking about here in the Arena for many months). Candidate Obama was elected by misleading people that he would govern as a moderate. That cat is now out of the bag. He is obviously a leftist bent on redistribution, rising control of the economy by government, protectionism, and bailing out auto unions. His political style is also not as advertised: he is just another Chicago-style political bully, who uses backroom deals (healthcare is the most obvious example) to get what he wants.
Finally, the idea that he would help heal race relations has been damaged by various actions and statements (one of my friends who voted for Obama partly in the hope that his presidency would change race relations in America was very bothered by the President's recent statements about how much minorities would benefit from healthcare 'reform' -- isn't he everyone's President, my friend wondered). The problem is not with the execution of the Obama presidency; the problem is that America really didn't want this President and they thought that they had elected a different one. Spin won't solve this problem; elections will."
Monday, January 18, 2010
Charles W. Calomiris: