For a while now, Glenn Reynolds has argued that “Jimmy Carter is the best-case scenario” for Obama — because it’s been pretty obvious for a while now. But it’s only this morning that I figured out the why.
Carter, for all his silly notions, learned on the job and came up with some decent policies — eventually.
When the invasion of Afghanistan made Soviet expansionism became too much to bear, Carter changed course. The defense buildup under Reagan really began under Carter.
Faced with inflation, Carter appointed inflation hawk Paul Volcker to head the Fed. Reagan kept him on for a second term. Faced with a weak economy, Carter undid New Deal transportation cartels. The man could and did learn on the job.
Faced with the greatest financial crisis since the Great Depression, faced with the weakest job market since WWII, faced with endless debt and out-of-control entitlements, Obama’s policy prescriptions haven’t changed one bit:
1. Soak the “millionaires and billionaires” making as little as $200,000.
2. Regulate the ever-loving life out of the economy.
3. Increase entitlements.
4. Spend, spend, spend.
The fact that these policies haven’t worked hasn’t deterred Obama. Just on Monday he took to the airwaves yet again to call for yet more taxes and yet more spending to fund the expanded welfare and regulatory state he refuses to trim.