Obama's Presidency Accurately Foretold In January 2009

Audacity Without Ideology is an article published by E.J. Dionne Jr. in January of 2009, and it provides predictions of Obama's style of governing that are amazingly accurate.

It's excerpted in a piece by Digby at Hullabaloo entitled Hoping We Get Lucky, which seems to be the administration's current economic plan.

She further referenced an article by Brad DeLong entitled Grasping Reality With Both Hands, and includes this excerpt:

Back at the end of 2008, our questions (at least my questions) were: "What if the downturn is bigger than we currently think it will be? What if worries about a jobless recovery and the absence of labor-market mean-reversion turn out to be true? What if--as has happened in the past--this financial crisis turns into sovereign crises and the world economy gets hit by additional shocks? Then your polices will not be bold enough. What is Plan B?" And the answers were all along the lines of:

You are a pessimist. We are already doing unprecedented things to stabilize the economy--and odds are that in a year we will be worrying about inflation and unwinding the stimulus rather than about unemployment.

Obama is genuinely post-partisan, and won't have anything like the trouble Clinton had negotiating with Republicans: our policies will evolve as the situation evolves.

Back in the late summer of 2009, our questions (or at least my questions) were: "You aren't getting any cooperation from Republicans--they appear to have doubled down on the Gingrich-Dole strategy that you win the next election by making the Democratic President a failure. The economy really needs more stimulus. What are you going to do? Isn't it time to use the President's powers more aggressively--to use Fed appointment powers and the Treasury's TARP authority and Reconciliation to do major stimulus?" And the answers were:

We are doing all that we can.

This is really hard.

Things will probably still work out all right.

If worst comes to worst, we will trade long-run budget balance via a spending cut-heavy package of long-run spending cuts and tax increases for short-term stimulus to get us out of the short-term unemployment mess.

Hippie punching.

By the late summer of 2010, our questions (or at least my questions) were: "You are in a total war with the Republican Party. They aren't giving you anything. It is time to seriously push the envelope of executive authority to put policies in place that will reduce unemployment." And the answers were:

The best policy is to achieve long-run fiscal discipline so that the confidence fairy will show up.

Hippie punching.

And now it is the late summer of 2011. Our big question still is: how is Obama going to use executive branch authority to reduce unemployment? There are lots of options: adjourn congress and do some recess appointments to get the Federal Reserve more engaged in actually pursuing its dual mandate, quantitative easing via the Treasury Department, shifting Fannie Mae and Freddie Mac from their do-nothing position by giving them a microeconomic stabilization mission, talking about how a weak dollar is in America's interest.

And this time what I am hearing back is only:

Hippie punching.

It is difficult to read this in any way but as a group of people inside a bunker who (1) have been wrong about the situation, (2) are scared to use the powers they have to try to make things better, and (3) really do not like being reminded that they were wrong about the situation.

That seems to me to mean that the Obama administration right now has one and only one macroeconomic policy idea: hope that the country gets lucky.