Obama takes the lead

Only time will tell if there was some long term benefit to the last few weeks worth of bipartisan outreach by President Obama. For myself, I think although the effort failed to acheive consensus, it succeeded in drawing a bright line in the public's mind between Obama's willingness to be inclusive and the GOPers stubborn refusal to admit any mistakes and the bad faith underlying their relentless obstructionism. But whatever the long range implications, it looks like Obama has abandoned the strategy and is embracing a new game plan.

It's a welcome change. At this point it's almost not important whether what Obama is proposing is a good or bad plan. What's important is that he drives the narrative instead of allowing it be defined by the competing factions inside the Beltway.

The people are terrified right now. They're scared of the future and they don't really care about political comity. They want to feel secure again. They want a leader to take charge and make them feel safe. It's a good sign that Obama is finally stepping into that role. That will do more to encourage consumer confidence than any spending -- good, bad or indifferent.

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