The reviews will be mixed, but the President, to use his own phrase, "did OK"--and probably a little better than that--in his first star turn on the international stage.
In a heavy global melodrama not best-suited to his light touch, Barack Obama comes out of the G20 show with renewed respect for his leadership and about as much substantive accomplishment as possible from a large cast with conflicting motives.
“If there’s just Roosevelt and Churchill sitting in a room with a brandy, that’s an easier negotiation,” Obama said at his international news conference afterward. “But that’s not the world we live in, and it shouldn’t be the world that we live in.”
The President got only a fraction of what he wanted in stimulus--a pledge of $1.1 trillion to the International Monetary Fund and other institutions to help revive the global economy--but what he gave Europe in return was not at odds with his own goals.
"In the end," Steven Pearlstein notes in the Washington Post, "yesterday's communique, with its promise of a global regulatory crackdown, was an easy win for all concerned. Sarkozy and German Chancellor Angela Merkel could declare victory over unfettered Anglo-American capitalism, while Obama now has added political ammunition for taking on the banks, hedge funds, rating agencies and private-equity firms that will try to water down his proposals."
Impressively, Obama spent an hour yesterday successfully brokering a deal between President Nicolas Sarkozy of France and President Hu Jintao of China on the language for cracking down on tax havens, which ended with the French president calling our own "very helpful."
Making friends and impressing world leaders won't do much to solve the economic crisis, but it's a start.
Showing posts with label G20 meeting. Show all posts
Showing posts with label G20 meeting. Show all posts
Friday, April 03, 2009
Tuesday, March 24, 2009
Ubiquitous Obama
If we were paying the President by the hour, the economic crisis would be worse. After the Tonight Show, 60 Minutes and town halls everywhere, we get a prime-time news conference this evening.
If that sounds like a complaint, it isn't. In this time of multiple anxieties, Barack Obama, despite the inevitability of falling approval ratings, has succeeded brilliantly as Comforter-in-Chief.
With his remarkable capacity to put mixed feelings into context (i.e., the AIG bonuses are an outrage, but we can't afford to govern out of anger and then helping bury the nutty House tax bill), Obama is just the President we need psychologically at this moment, no matter what reservations we may have about specific moves such as the stimulus and the bank bailout.
"Obama Dials Down Wall Street Criticism" proclaims the Wall Street Journal today, as he reaches out for a public-private answer to the credit crunch, the latest step in his progress from defining the problem to trying to solve it.
Frustrated Republicans are reduced to sneers and nitpicking. As Carl Ericson observes at Simply Left Behind: "It's driving his opponents crazy. Obama has at once lifted himself above the fray while encouraging the fray using surrogates. The more conservatives focus on Obama's miscues and teleprompters, the more the American people will understand that the GOP offers no rational alternative at this time, that they are spinning their wheels waiting for an opportunity to seize the upper hand on an issue of substance."
In advance of the G20 economic summit next week, the President is going global with his ubiquity. In an OpEd today running in 31 countries around the world, he writes:
"We are living through a time of global economic challenges that cannot be met by half measures or the isolated efforts of any nation. Now, the leaders of the Group of 20 have a responsibility to take bold, comprehensive and coordinated action that not only jump-starts recovery, but also launches a new era of economic engagement to prevent a crisis like this from ever happening again."
No matter what final grades he gets from history, Obama has already earned his A for effort.
If that sounds like a complaint, it isn't. In this time of multiple anxieties, Barack Obama, despite the inevitability of falling approval ratings, has succeeded brilliantly as Comforter-in-Chief.
With his remarkable capacity to put mixed feelings into context (i.e., the AIG bonuses are an outrage, but we can't afford to govern out of anger and then helping bury the nutty House tax bill), Obama is just the President we need psychologically at this moment, no matter what reservations we may have about specific moves such as the stimulus and the bank bailout.
"Obama Dials Down Wall Street Criticism" proclaims the Wall Street Journal today, as he reaches out for a public-private answer to the credit crunch, the latest step in his progress from defining the problem to trying to solve it.
Frustrated Republicans are reduced to sneers and nitpicking. As Carl Ericson observes at Simply Left Behind: "It's driving his opponents crazy. Obama has at once lifted himself above the fray while encouraging the fray using surrogates. The more conservatives focus on Obama's miscues and teleprompters, the more the American people will understand that the GOP offers no rational alternative at this time, that they are spinning their wheels waiting for an opportunity to seize the upper hand on an issue of substance."
In advance of the G20 economic summit next week, the President is going global with his ubiquity. In an OpEd today running in 31 countries around the world, he writes:
"We are living through a time of global economic challenges that cannot be met by half measures or the isolated efforts of any nation. Now, the leaders of the Group of 20 have a responsibility to take bold, comprehensive and coordinated action that not only jump-starts recovery, but also launches a new era of economic engagement to prevent a crisis like this from ever happening again."
No matter what final grades he gets from history, Obama has already earned his A for effort.
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