A Haitus for Honest Abe

News flash for the punditocracy: Barack Obama is not a YouTube reincarnation of Lincoln. Despite their common Illinois roots and the reverberations over race, pace Doris Kearns Goodwin, it's time to put aside Obama-Lincoln comparisons and be realistic about what the new president is facing in a 21st century world.

Evan Thomas at Newsweek obviously did not get the memo and in the new issue writes: "It is the season to compare Barack Obama to Abraham Lincoln. Two thin men from rude beginnings, relatively new to Washington but wise to the world, bring the nation together to face a crisis. Both are superb rhetoricians, both geniuses at stagecraft and timing. Obama, like Lincoln and unlike most modern politicians, even writes his own speeches, or at least drafts the really important ones—by hand, on yellow legal paper..."

But this kind of mooning over Obama obscures the tough, torturing questions he has to deal with, even before taking office. Notes on a yellow legal pad won't go very far toward stabilizing financial markets, saving Detroit, realigning our Mideast policy and solving the high pile of other problems George W. Bush is leaving on the Oval Office desk.

When President Obama is sworn in, the last thing he needs is gauzy expectations that he will wave a Lincolnesque wand and make them all go away.

There will be hard, practical political choices and the decisions of the new administration are going to displease and disappoint not only its critics but fervent supporters who, with the luxury of venting their rage during the Bush era, are not poised to accept tradeoffs and incremental improvements.

But there can't be an Emancipation Proclamation from the national enslavement to stupidity and meanness that makes all the consequences go away with a few strokes of a pen.

Even the ebullient Newsweek essay ends on a cautionary note:

"With luck, he will not be confronted with lose-lose decisions like LBJ, who had to choose between the Great Society and the war in Vietnam and ultimately lost both. Obama will surely face some hard choices, and possibly all at once. He may not wind up as a tragic figure like LBJ, but he may also disappoint the expectations of his vast legions of believers. He will not be 'the One'; he will be human like the rest of us."

The Financial 9/11

Yesterday's stock-market surge is at least a temporary all-clear for millions of Americans to emerge from the shock and awe that has devastated their financial lives. As they look around at the rubble of savings, 401ks and home values, what are they thinking and feeling?

Across the country, there are reports of victims. "In some places," CNN reports, "mental-health hot lines are jammed, counseling services are in high demand and domestic-violence shelters are full."

In this disordered emotional climate, the wounded will be asked to decide on whom to trust to heal the national economy. Barack Obama and John McCain are offering band-aids, George W. Bush is dispensing bromides, but there is no national figure to "feel their pain."

In tomorrow night's debate, the presidential candidates will be under great pressure to posture as economic saviors in a situation ripe for demagoguery. McCain will no doubt promise to fight our way out and Obama to think through the disaster, but what voters will be searching for, more than ever, is empathy and trust.

The financial rescue farce of the past two weeks has made politicians of all stripes look foolish and impotent. Congress wasted valuable time arguing over Hank Paulson's now-abandoned plan to buy bad mortgages, then loaded the bill with pork and, only incidentally, added provisions that now are seen as the best answer to the crisis--putting money into banks and taking equity positions in return.

How much of the market panic could have been avoided if American politicians had acted with the ultimate good sense of Gordon Brown and the British, who have led the way out of the mess, at least temporarily?

There is no time now for postmortems, but McCain and Obama would do well this week to offer, not nostrums, but convincing evidence that they will rely on the best experience and judgment when the next disaster strikes.

Maliki, Can You Spare a Dime?

As Washington prepares to tap taxpayers for a bipartisan bailout of the US financial system, is it out of order to ask our Iraqi friends who are sitting on $80 billion of oil profits to put a little something into their own pot?

After our expenditure of half a trillion dollars, $10 billion a month of American money is still going there. Our friends in Baghdad could ease the credit crunch here by taking over some of that tab from now on without going broke themselves.

The suggestion might be most palatable coming from their best friend, John McCain, who is presenting himself as responsible for their victory over chaos. Would we be leaving Iraq with less honor if they starting buying some of the blessings of democracy with their own money?

One incentive for such a selfless gesture might be the prospect of Barack Obama moving into the White House next January with his plans for troop withdrawals that would speed the day when the Iraqis run their own country and pay for its upkeep.

The old song of the 20th century Depression had a war veteran asking, "Buddy, can you spare a dime?" Nouri, old buddy, can't you spare a billion or two or three?