The Wrong Moment For A Moderate Conservative President
Posted on Fri Jul 22, 2011 at 02:13:47 PM EST
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[T]he point is that if you ask what Mitt Romney would probably be doing if he were in the White House and not trying desperately to convince his party that he shares its madness, it would look a lot like what Obama is doing [on the economy.]
There are, however, two crucial points to understand. First, Obama gets no credit for his moderation, and never will. [. . .] Second, moderate conservatism isn’t working as a policy matter. As I’ve tried to tell everyone from the beginning of the Lesser Depression, a deeply depressed economy in which monetary policy is up against the zero lower bound turns the normal rules of policy upside down. We’re in a world in which conventional prudence is folly, in which playing it safe is extremely risky. And we have, alas, a conventionally prudent, play-it-safe president — the kind of president who might have done fine in the 1990s, but not now.
(Emphasis supplied.) This. To put the point another way, Bill Clinton would likely have been a subpar President in these times. Unless he changed his policy tune. And in the end, politics follows policy success, especially on the economy. Yes, it's the economy, stupid.
Speaking for me only
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