In a radio interview that aired Monday on Univision, President Obama chided Latinos who "sit out the election instead of saying, 'We're gonna punish our enemies and we're gonna reward our friends who stand with us on issues that are important to us.' " Quite a uniter, urging Hispanics to go to the polls to exact political revenge on their enemies - presumably, for example, the near-60 percent of Americans who support the new Arizona immigration law.
Barack Obama's considerable political capital, earned on Election Day 2008, is spent. Well spent, mind you, on the enactment of a highly ideological agenda of Obamacare, financial reform and a near-trillion-dollar stimulus that will significantly transform the country. But spent nonetheless. There's nothing left with which to complete his social-democratic ambitions. This would have to await the renewed mandate that would come with a second inaugural.
I have a warning for Republicans: Don't underestimate Barack Obama. Consider what he has already achieved. Obamacare alone makes his presidency historic. It has irrevocably changed one-sixth of the economy, put the country inexorably on the road to national health care and, as acknowledged by Senate Finance Committee Chairman Max Baucus but few others, begun one of the most massive wealth redistributions in U.S. history. Second, there is major financial reform, which passed Congress on Thursday. Economists argue whether it will prevent meltdowns and bailouts as promised. But there is no argument that it will give the government unprecedented power in the financial marketplace. Its 2,300 pages will create at least 243 new regulations that will affect not only, as many assume, the big banks but just about everyone, including, as noted in one summary (the Wall Street Journal), "storefront check cashiers, city governments, small manufacturers, home buyers and credit bureaus."
In announcing the passage of a U.N. Security Council resolution imposing sanctions on Iran, President Obama stressed not once but twice Iran's increasing "isolation" from the world. This claim is not surprising considering that after 16 months of an "extended hand" policy, in response to which Iran accelerated its nuclear program -- more centrifuges, more enrichment sites, higher enrichment levels -- Iranian "isolation" is about the only achievement to which the administration can even plausibly lay claim.