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 fits when they
were first appointed, and now [...]

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,”
these guys can’t even drive us to a [...]

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’
support directly, wealth plus clever
distortion can sell their supporters.