BY Michael Barone, September 18, 2012 –
People, not least himself, have often compared Barack Obama to Franklin D. Roosevelt.
You know the narrative. He came to office in a financial crisis and proceeded to take government action to revive the economy and expand government to help the little guy.
That narrative was developed by great New Deal historians like Arthur Schlesinger Jr. and has been an article of faith among liberal Democrats ever since. Expand government and the people will love you.
Except that it hasn’t worked out exactly that way. Most Americans don’t much love the stimulus package or Obamacare. That’s why you didn’t hear much about them at the Democratic National Convention.
The economy has not responded as Obama’s economists predicted, to say the least. Job growth has been sluggish, investment even more so, and inflation may be starting to rear its ugly head.
Obama’s term does resemble Roosevelt’s — but his second term in office, not the first.