Obama could satisfy a recurring urge by getting rid of the Treasury secretary. His speaking bores audiences, makes the market fall, and that’s his strong suit. While he’s rebuilding his economic team, the president should dump Larry Summers, another advisor who’s advice seems to evolve with Wall Street’s shifting moods. They both gave some liberals [...]

If Obama’s really a pragmatist, he’ll realize pleasing Republicans is impossible, and start trying to win back liberal Democrats.

Supporters and opposers of reform differ: one side worries about those in need, the other frets over who’s going to pay. Since the promise is reduced risk in the future, while the cost starts now, the congressional battle is typical: hypothetical vs. hyperbole.

Al Gore warned us about global warming many years ago, and he never quit. Now it is probably too late. Paul Krugman said we needed a bigger stimulus for the economy from the beginning. Now, he admits it is probably too late. Unlike parents who warned their children, “You could break an arm doing that,” [...]

Our founders feared democracy. The checks and balances we revere were devices designed to keep power in the hands of the elite. As the country grew, the privileged learned plain voters were often easier to sway than those in elective office, so they created the referendum. This innovation works well. When money can’t buy representatives’ [...]