Barack Obama has a major problem which, as of this date, he has failed to confront. He ignored advice from noted economists like Paul Krugman and political advisors who urged him to be aggressive in defending the rights of consumers and workers. Instead, he depended on those like Tim Geithner to set a tone of deference to Wall Street. The result is that those demonstrating against Wall Street do not regard the president as an ally, but rather as part of the problem. Of course, he belatedly, has adopted a populist tone and demanded job creation, but three years ago he refused to fight for jobs. So, who is the real Obama?
One strategy that might work for Obama is to adopt the attitude of President Harry Truman who went around the nation in 1948 denouncing the “do nothing Republican Congress.” And, he won despite every poll which indicated he would lose. Of course, Harry Truman was a blunt man and he took responsibility for his actions. On his desk was a plaque which said: “the buck stops here.”
Perhaps, if President Obama got on TV and said: “I made mistakes. I trusted the Republican party to conduct itself as adults. I trusted Wall Street to acknowledge that American society helped it out of a disaster. I was wrong. I made a mistake. I have learned from my mistakes. Now, let’s get a liberal Congress and work to make this a nation with low unemployment.”
Might just work.