I spent the election doing a lot of
spectualting over whether Obama would merely be a center-left
president in the Clinton mold -- i.e., one who enjoys short-term
political success while failing to seriously advance liberalism
-- or whether he would actually be a transformational
liberal leader who creates enduring big government
institutions a la FDR and LBJ. Having been able to take a look at
some of his early appoints, right now, it's looking more and more
like the Clinton model. As Jim
noted, there is already growling among the left because Obama
has steered clear of radical progressive appointments thus far.
Also, while what we know of the economic
stimulus package thus far should be disconcerting to
conservatives -- a $500-$700 billion price tag, plenty of room
for pork in infastructure and environmental handouts -- none of
it seems to be creating any lasting institutions that will be
with us when the economy recovers, and/or irreversible during any
future conservative administration. Obama also left open the
possibliity that he wouldn't raise taxes on those making over
$250,000 until the tax cuts are set to expire in 2011. With that
said, there are clear long-term threats to the free market, with
the most troubling on regulation and health care. Given that the
ultimate cost of the bailouts will be in the trillions of
dollars, and government will end up with huge stakes in banking,
insurance, and the housing market, it's inevitable that we'll end
up with a massive increase in regulation. Furthermore, Daschle's
appointment to HHS signals that Obama is serious about creating
universal health care, and the former Senate majority leader's
keen understanding of the legislative process makes this a real
possibility.
