Economic Policy Could Scuttle Obama’s Good Start

Posted on Jan 27, 2009

By Robert Scheer

Only a week into the new administration, and yet there is this nagging thought that Barack Obama’s legacy already hangs in the balance. Sounds absurd, I know, given the brief time, but his early response to the financial meltdown is just that important. Despite a terrific start in so many directions, Obama is up against an economic crisis that, although not of his making, will, if handled improperly, spell his—and the nation’s—undoing.

Obama is in these early weeks making trillion-dollar decisions that will cast the die for the rest of his promising agenda. Unfortunately, while the new president has already proved to be a brilliant and super-competent agent of change in so many ways, in matters of economic policy he has relied excessively on the financial “experts” who helped get America into this mess.