January 16, 2012

WHICH WAS WHY 1992 MATTERED:

Who will get the 'Recovery Presidency'? (Ezra Klein, 01/16/2012, Washington Post)

You can see how this will work. If Romney wins the presidency and the economy begins to rebound, Republicans will argue, and America's experience will seem to show, that they were right all along: The stimulus was useless and the regulatory uncertainty the Obama administration created with its health-care plan and its talk of cap-and-trade and all the rest kept businesses from investing. Of course, if Obama keeps the office, that argument will be largely discredited...

In 1992, the Right decided to teach GHWB a lesson about being too moderate and they handed Bill Clinton the Cold War's peace dividend, which was the entire amount by which the budget went from deficit to balance.  It made Democrats seem a viable party again.

The risk this year is identical, only it's the WoT's peace dividend this time.

Posted by at January 16, 2012 2:17 PM
  

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