Obama brought on advisers whose fossilized thinking was responsible for forecasting a typical two year turnaround for the economy and for a lackadaisical approach to a stimulus plan.
In the past economic recovery has occurred about two years after a downturn. So they chose to sit tight and wait for the good times to roll in believing – wrongly as it turned out – that they were perfectly positioned to enter the 2012 election with an economy in full recovery mode. They refused to confront Republicans with a realistic stimulus plan and instead accepted a half baked inadequate measure that has indeed failed. Unfortunately the failure sticks to Obama and not the GOP.
The president and his coterie cajoled Republicans, making only a half-hearted attempt to win a trillion dollar jobs program. A down and dirty fight to the finish might have gained more than the paltry legislation that eventually passed the Congress. If nothing else, the fight even if lost would have saddled the Republicans with much of the blame for the failure of the stimulus.
Now the advisers, aware that they have failed the president, have fled the ship, except for the addled Geithner who remains behind to issue dire warnings. And the president is left holding a bag filled with campaign cash but little else.
It’s still not too late to fight. But you don’t do that on a golf course.