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The Obama Presidency: Possibility or Peril?

Is Barack Obama’s presidency really in peril? Robert Kuttner thinks our president is squandering a historic opportunity for fundamental, FDR-scale reform.

From The Nation:

Kuttner identifies four main reasons for why BHO is thus far no FDR. “One is his own character as a conciliatory consensus builder,” he writes. “A second is that economics was never Obama’s strong suit. A third is the residual power of Wall Street; without a president personally committed to Roosevelt-scale change, even a national financial collapse has not been able to shake the hegemony of finance. And a fourth is that the social movements that were so prevalent during the other eras of crisis and great presidential leadership are largely absent today.” Such an outcome was by no means inevitable or preordained, Kuttner believes, despite the awful hand the new president was dealt. “In Obama’s fateful first year, there was a road not taken, a possible road to radical reform, broadened prosperity, and the mobilization of an appreciative citizenry,” he writes. Kuttner faults Obama for this, but is far more critical of the president’s top advisers, who he believes led an inexperienced leader astray. “In many respects, the path Obama chose was determined by the people he appointed,” Kuttner asserts.

About the book: In this hard-hitting, incisive account, Kuttner shares his unique, insider view of how the Obama administration not only missed its moment to turn our economy around—but deepened Wall Street’s risky grip on America’s future. Carefully constructing a one-year history of the problem, the players, and the outcome, Kuttner gives readers an unparalleled account of the president’s first year.

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