Publish in the New York Post on November 5, 2008
While the Democrats and Barack Obama won big yesterday, even coming close to a filibuster-proof majority in the Senate, Obama will find their options substantially constrained by reality.
Their handicap is the financial condition of the nation they’ll inherit. Think of a trustee or conservator of a bankrupt company.
Those who fear a radical Obama miss the point of the lack of maneuverability of the next president. Behind the mortgage crisis looms the credit-card crisis, the student-loan crisis and the car-loan crisis. Sweating this mess out of the system will take two years of zero growth or contraction.
We won’t have a Great Depression, for the government will irrigate our economy with money. But we’ll have stagnation, followed by inflation.
So Obama will take office with unlimited political power but highly circumscribed practical power. He can pass whatever legislation he wants, but will be unable to indulge his ideology.
The irony will be bitter for the Democrats. Finally able to rise above the political limits they’ve faced, they’ll encounter new limitations in the fundamental problems of the economy.
The Republican Party’s role is to rebuild in the shadow of the frustrations of the Obama presidency. Just as MoveOn.org built the massive grass-roots base that yesterday impelled the Democrats to victory, so Republicans must go down to their grass roots, get in touch with their base and rebuild an opportunity to win national elections.
Power has been bad for the GOP, sapping the party’s soul and eroding its purity. But opposition, especially when a socialist like Obama wrestles with the practical problems of capitalism, will be a heady experience for the Republicans. The conservative movement can be reborn in opposition in a way they never could have been as the governing party.
For political historians, it’s worth noting that Obama hasn’t scored the knockout that many predicted. As I write, it seems clear that John McCain will lose by a few points in the popular vote, not by the double digits so confidently predicted in the media polls. The fact is that most of the undecided voters went to the Republicans.
In the face of a mandate limited by reality and undermined by his inability to sweep the nation as had been predicted, Obama will face a difficult situation. As the economy falters, he’ll find himself unable to raise taxes as he wants and stymied in his plans for government takeover.
A very tough future, for a man who won such a heady victory.
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Dick, Thank you for all your analysises throughout the campaign trail. I much enjoyed all that you did. The Repuplicans have failed to prove to the American people that we should be in power. They failed to communicate to a public that is vastly asleep. To rebuild we must get back to issues that affect the American Family. We must speak in terms that will cause the American Family to pause,ponder,and react to the type of legislation that will cause specific action. A direct tax credit from gross income on the contract life of the Family’s vehicle for example. The American public can understand that. The Obama’s win was largely on emotion. Many general themes, but hardly any how. I believe that Mccain’s loss was due to my point above. Im willing to help the Republican’s rebuild, but Im tired of Republicans In Name Only.
Today, as I did last night, I feel very sad for my country. I am asshamed of the fact that only 37% of Republicans even bothered to vote. I am bothered that some Christians would vote for this man. I believe that with this mans “social view” on all things that are against God’s laws, any Christian who voted for him should be drawn and quarted. McCain showed grace and dignity last night. Everyone this morning is saying that we should be proud that America has grown up to such a point where a black man could be elected…..but they fail to see that black panthers were out in force, at voting places with clubs using intimidation against any white voter they thought might vote for McCain. IF I felt that this man had won in a fair election then I would feel ok, but I feel that he cheated, bought, lied, and would have done almost anything to get into office. I knew that McCain was a long shot with the tactics that the Obama people were willing to use, so no I don’t feel proud, I feel very, very sad….I as a pro-life voter, and a Christian, and someone who loves this country more than you will ever know, at 62 felt that this election was the most important one that I had ever seen…..now I will have to live through whatever it brings. God help us All…..but we deserve what ever we get, because we did not get out the vote and we allower the lies to stand…..thank you for your work, P.Drake
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