The Right Opinion
The Question Nobody Wants to Answer
You have to feel a little sorry for Team Obama as they squirm to explain why the question "Are you better off now than you were four years ago?" is so unfair.
After all, there is only one way to answer it and retain any credibility. Which is why Maryland's Democratic Gov. Martin O'Malley, when asked, responded, No, we're not. Within 24 hours, he reversed himself, by all accounts because the Obama campaign forced him to. I haven't checked the video to see if he was blinking T-O-R-T-U-R-E in Morse code as he did so.
The idea that presidents "run" the economy is both ludicrous and fairly novel. Before the New Deal (which in my opinion prolonged the Great Depression), the notion that presidents should or could grow the economy was outlandish. But, as the historian H.W. Brands has argued, it was JFK who really cemented the idea that the president is the project manager for a team of technicians who create economic prosperity. "Most of the problems ... that we now face, are technical problems, are administrative problems," he explained, and should be kept as far away from partisan politics as possible.
President Obama, a hybrid reincarnation of both Kennedy and Roosevelt according to his fans, came into office with similar misconceptions. Controlling the White House, the House and the Senate, his team of propeller heads insisted that if we passed exactly the stimulus they wanted, the unemployment rate would top out at 8 percent and would be well below that by now.
They waved around charts and graphs "proving" they were right, like self-declared messiahs insisting they are to be followed because the prophecies they wrote themselves say so.
They got their stimulus. They were wrong.
They say in their defense that's because the downturn was so much worse than anyone realized. OK, but that just demonstrates the folly of their confidence in the first place. If I jump off a building because I am sure I can fly ("I wrote a study that proves it!"), it's of little solace, and even less of an excuse, if I sputter out my last words from the bloodied pavement, "The pull of gravity was so much worse than I realized."
Obama similarly self-defenestrated his own credibility, but he's still insisting he knows exactly what to do. Now he argues that if we just do what Bill Clinton did -- raise taxes on the top earners plus pass the so-called Buffett rule, which would raise taxes on investment income -- we can have the economy Clinton had. The Buffett rule would pay for 11 hours of government spending in 2013, as Mitt Romney correctly observed -- or 18 hours, according to Democratic reckoning. Anyone believe that would make the economy roar to life?
Obviously, Bill Clinton -- and the Republican congress that forced him to balance the budget -- deserves some credit for the 1990s boom. But last I checked he didn't invent the personal computer, the Internet or biotechnology. Nor did he end the Cold War. The notion that there would have been no "roaring nineties" if George H.W. Bush had been re-elected is simply preposterous.
As much as it pains me to say it, Ronald Reagan deserves some of the blame for this notion that our individual successes and failures are wholly contingent upon the whim of the guy in the Oval Office. He was the one who popularized "Are you better off now than you were four years ago?" to such devastating effect against Jimmy Carter. Since then, Democrats have made their own use of this crude reductionism. It has always struck me as a secular form of medieval thinking. My crops will not prosper unless the high priest wills it so.
At least Reagan argued that the economy would prosper if he were allowed to liberate it from the scheming of self-styled experts. Clinton ran out in front of a parade of free market successes and, like Ferris Bueller, acted as if he was leading the parade.
In his manifest hubris, Obama believed it was just that easy. He, too, could simply will vibrant economy into being through sheer intellectual force. But, unlike Bill Clinton, he wouldn't sully himself by playing "small ball." Obama would be "transformative."
For the ancient Greeks, hubris described the sort of arrogance that offends the gods, and precedes the fall. In the current context, it certainly tests the limits of my sympathy.
(C) 2012 Tribune Media Services, Inc.

6 Comments
India in GA
Wednesday, September 5, 2012 at 10:49 AM
Great article, Mr. Goldberg.
I loved the "Gravity was so much worse" metaphor; and the mental image of Bill Clinton on a parade float crooning "Danke Schoen" is going to stick with me for a while!
(Not sure if that is a good thing or not, on second thought...)
Tex Horn in Texas
Wednesday, September 5, 2012 at 11:01 AM
"If" taxes were raised on on investments? Wake up, Jonah, because next year, if you own a business making over 200K and you wish to invest in those businesses, you "will" be paying an increased tax of 3.8% on those investments. Why? To fund Obamacare, that's why. If you don't believe me, ask your tax preparer. Another nail in the cross for small business owners. When small business goes, America goes.
jksisco in irvine, ca
Wednesday, September 5, 2012 at 12:00 PM
To see what another four years of Obama policies will produce, just take a gander at California. After 40 years of Democrat control of the Legislature there is a $16 billion shortfall, California was ranked as the worst place to do business, (for the ninth consecutive year), we're going for the highest tax rate in the country, immigration laws are ignored, public pensions are among the finest in the land, we define nanny-state, and, no new refineries or power plants in the last 40 years, can you say necessarily skyrocket.
wjm in Colorado
Wednesday, September 5, 2012 at 12:59 PM
Obamao may not be able to reduce America to ashes on his own, but with the help of the rest of the marxists controlling the Democrat Party, He has our destruction solidly in place.
Bubba in USA
Wednesday, September 5, 2012 at 1:23 PM
I agree with all but one point - a President CAN make it much worse (see Jimmy), or he can remove the barriers that allow the People to make it much better. In other words, he is a catalyst but not the substance of the improvement. Reagan knew this; Obama cannot. Blame it on the NPD. :)
Daylo in Georgia
Wednesday, September 5, 2012 at 4:15 PM
Bill Clinton and Al gore didn't know who Osama Bin Laden was (to our great woe), but Gore did claim to have invented the internet and well...we all know that Clinton had an inside man supplying him with Cuban cigars, and also too like Ferris, they did lead charmed lives, with the help of their fellow Democrats, that is until their downfall, which was hurried along with the infamous explanation about the meaning of "is", and then the enchantment sort of fizzled. Every dog has his day.