" Obama succeeded George W. Bush, a two-term President whose misbegotten legacy, measured in the money it squandered and the misery it inflicted, has become only more evident with time. Bush left behind an America in dire condition and with a degraded reputation. On Inauguration Day, the United States was in a downward financial spiral brought on by predatory lending, legally sanctioned greed and pyramid schemes, an economic policy geared to the priorities and the comforts of what soon came to be called “the one per cent,” and deregulation that began before the Bush Presidency. In 2008 alone, more than two and a half million jobs were lost—up to three-quarters of a million jobs a month. The gross domestic product was shrinking at a rate of nine per cent. Housing prices collapsed. Credit markets collapsed. The stock market collapsed—and, with it, the retirement prospects of millions. Foreclosures and evictions were ubiquitous; whole neighborhoods and towns emptied. The automobile industry appeared to be headed for bankruptcy. Banks as large as Lehman Brothers were dead, and other banks were foundering. It was a crisis of historic dimensions and global ramifications. However skillful the management in Washington, the slump was bound to last longer than any since the Great Depression.
At the same time, the United States was in the midst of the grinding and unnecessary war in Iraq, which killed a hundred thousand Iraqis and four thousand Americans, and depleted the federal coffers. The political and moral damage of Bush’s duplicitous rush to war rivalled the conflict’s price in blood and treasure. America’s standing in the world was further compromised by the torture of prisoners and by illegal surveillance at home. Al Qaeda, which, on September 11, 2001, killed three thousand people on American soil, was still strong. Its leader, Osama bin Laden, was, despite a global manhunt, living securely in Abbottabad, a verdant retreat near Islamabad......
"Barack Obama began his Presidency devoted to the idea of post-partisanship. His rhetoric, starting with his “Red State, Blue State” Convention speech, in 2004, and his 2006 book, “The Audacity of Hope,” was imbued with that idea. Just as in his memoir, “Dreams from My Father,” he had tried to reconcile the disparate pasts of his parents, Obama was determined to bring together warring tribes in Washington and beyond. He extended his hand to everyone from the increasingly radical leadership of the congressional Republicans to the ruling mullahs of the Iranian theocracy. The Republicans, however, showed no greater interest in working with Obama than did the ayatollahs. The Iranian regime went on enriching uranium and crushing its opposition, and the Republicans, led by Dickensian scolds, including the Senate Minority Leader, Mitch McConnell, committed themselves to a single goal: to engineer the President’s political destruction by defeating his major initiatives. Obama, for his part, did not always prove particularly adept at, or engaged by, the arts of retail persuasion, and his dream of bipartisanship collided with the reality of obstructionism...."
Perhaps inevitably, the President has disappointed some of his most ardent supporters. Part of their disappointment is a reflection of the fantastical expectations that attached to him. Some, quite reasonably, are disappointed in his policy failures (on Guantánamo, climate change, and gun control); others question the morality of the persistent use of predator drones. And, of course, 2012 offers nothing like the ecstasy of taking part in a historical advance: the reëlection of the first African-American President does not inspire the same level of communal pride. But the reëlection of a President who has been progressive, competent, rational, decent, and, at times, visionary is a serious matter. The President has achieved a run of ambitious legislative, social, and foreign-policy successes that relieved a large measure of the human suffering and national shame inflicted by the Bush Administration. Obama has renewed the honor of the office he holds:
The American Recovery and Reinvestment Act of 2009—the $787-billion stimulus package—was well short of what some economists, including Joseph Stiglitz and Paul Krugman, thought the crisis demanded. But it was larger in real dollars than any one of Franklin D. Roosevelt’s New Deal measures. It reversed the job-loss trend—according to the Bureau of Labor Statistics, as many as 3.6 million private-sector jobs have been created since June, 2009—and helped reset the course of the economy. It also represented the largest public investment in infrastructure since President Eisenhower’s interstate-highway program. From the start, though, Obama recognized that it would reap only modest political gain. “It’s very hard to prove a counterfactual,” he told the journalist Jonathan Alter, “where you say, ‘You know, things really could have been a lot worse.’ ” He was speaking of the bank and auto-industry bailouts, but the problem applies more broadly to the stimulus: harm averted is benefit unseen.
As for systemic reform, the Dodd-Frank Wall Street Reform and Consumer Protection Act, which Obama signed into law in July, 2010, tightened capital requirements on banks, restricted predatory lending, and, in general, sought to prevent abuses of the sort that led to the crash of 2008. Against the counsel of some Republicans, including Mitt Romney, the Obama Administration led the takeover, rescue, and revival of the automobile industry. The Administration transformed the country’s student-aid program, making it cheaper for students and saving the federal government sixty-two billion dollars—more than a third of which was put back into Pell grants. AmeriCorps, the country’s largest public-service program, has been tripled in size.
Obama’s most significant legislative achievement was a vast reform of the national health-care system. Five Presidents since the end of the Second World War have tried to pass legislation that would insure universal access to medical care, but all were defeated by deeply entrenched opposition. Obama—bolstered by the political cunning of the House Speaker, Nancy Pelosi—succeeded. Some critics urged the President to press for a single-payer system—Medicare for all. Despite its ample merits, such a system had no chance of winning congressional backing. Obama achieved the achievable. The Patient Protection and Affordable Care Act is the single greatest expansion of the social safety net since the advent of Medicaid and Medicare, in 1965. Not one Republican voted in favor of it.
Obama has passed no truly ambitious legislation related to climate change, shying from battle in the face of relentless opposition from congressional Republicans. Yet his environmental record is not as barren as it may seem. The stimulus bill provided for extensive investment in green energy, biofuels, and electric cars. In August, the Administration instituted new fuel-efficiency standards that should nearly double gas mileage; by 2025, new cars will need to average 54.5 miles per gallon.
President Obama’s commitment to civil rights has gone beyond rhetoric. During his first week in office, he signed the Lilly Ledbetter Fair Pay Act, which protects women, minorities, and the disabled against unfair wage discrimination. By ending the military’s ban on the service of those who are openly gay, and by endorsing marriage equality, Obama, more than any previous President, has been a strong advocate of the civil rights of gay men and lesbians. Finally, Obama appointed to the Supreme Court two highly competent women, Elena Kagan and Sonia Sotomayor, the Court’s first Hispanic. Kagan and Sotomayor are skilled and liberal-minded Justices who, abjuring dogmatism, represent a sober and sensible set of jurisprudential values.
In the realm of foreign policy, Obama came into office speaking the language of multilateralism and reconciliation—so much so that the Nobel Peace Prize committee, in an act as patronizing as it was premature, awarded him its laurels, in 2009. Obama was embarrassed by the award and recognized it for what it was: a rebuke to the Bush Administration. Still, the Norwegians were also getting at something more affirmative. Obama’s Cairo speech, that same year, tried to help heal some of the wounds not only of the Iraq War but, more generally, of Western colonialism in the Middle East. Speaking at Al Azhar University, Obama expressed regret that the West had used Muslim countries as pawns in the Cold War game of Risk. He spoke for the rights of women and against torture; he defended the legitimacy of the State of Israel while offering a straightforward assessment of the crucial issue of the Palestinians and their need for statehood, citing the “humiliations—large and small—that come with occupation.”
... Still, he proved a sophisticated and reliable diplomat and an effective Commander-in-Chief. He kept his promise to withdraw American troops from Iraq. He forbade torture. And he waged a far more forceful campaign against Al Qaeda than Bush had—a campaign that included the killing of Osama bin Laden. He negotiated—and won Senate approval of—a crucial strategic-arms deal with the Russians, slashing warheads and launchers on both sides and increasing the transparency of mutual inspections. In Afghanistan, he has set a reasonable course in an impossible situation.
The unsettled situations in Egypt and Libya, following the Arab Spring of 2010, make plain that that region’s political trajectory is anything but fixed. Syria shames the world’s inaction and confounds its hopes of decisive intervention. This is where Obama’s respect for complexity is not an indulgence of intellectual vanity but a requirement for effective action. In the case of bin Laden, it was necessary to act alone and at once; in Libya, in concert with the Europeans; in Iran, cautiously but with decisive measures."
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The choice is clear. The Romney-Ryan ticket represents a constricted and backward-looking vision of America: the privatization of the public good. In contrast, the sort of public investment championed by Obama—and exemplified by both the American Recovery and Reinvestment Act and the Affordable Care Act—takes to heart the old civil-rights motto “Lifting as we climb.” That effort cannot, by itself, reverse the rise of inequality that has been under way for at least three decades. But we’ve already seen the future that Romney represents, and it doesn’t work.
The reëlection of Barack Obama is a matter of great urgency. Not only are we in broad agreement with his policy directions; we also see in him what is absent in Mitt Romney—a first-rate political temperament and a deep sense of fairness and integrity. A two-term Obama Administration will leave an enduringly positive imprint on political life. It will bolster the ideal of good governance and a social vision that tempers individualism with a concern for community. Every Presidential election involves a contest over the idea of America. Obama’s America—one that progresses, however falteringly, toward social justice, tolerance, and equality—represents the future that this country deserves. ♦