Buchanan: Another Failed President?

Posted on June 26, 2010


David Stockman, President Reagan’s principal salesman of tax cuts confessed that the altarpiece of the Reagan policy was a ruse — to cut tax rates of the richest Americans. Yet, a betrayed Reagan did not fire Stockman. Instead, he walked him down “to the White House woodshed.

Few suggested that this showed that Reagan was weak. For Reagan had already survived an assassination attempt, summarily fired an entire union of air traffic controllers and rammed through a hostile House led by Tip O’Neill the largest tax cut in history.

Yet, most everyone here said Barack Obama had no choice but to fire Gen. McChrystal, or reinforce the impression he is weak and indecisive.

The Wall Street Journal/NBC Poll out today confirms that the nation that entertained such high hopes for Barack Obama has lost confidence in his capacity to lead.

Sixty-two percent of all Americans believe the nation is headed in the wrong direction. For the first time, more Americans disapprove of Obama than approve. Fifty-seven percent would prefer someone else, rather than the member of Congress they now have.

Though green shoots have appeared in the economy, Americans no longer believe it. Only one-third thinks things will get better before they get worse again. Independents are deserting Obama. One in six Democrats now disapproves of the job he is doing.

Americans have been through periods of malaise before. But where FDR raised spirits after Herbert Hoover, and Reagan did after Jimmy Carter, the optimism about an Age of Obama is vanishing like the morning mist.