Wednesday, November 23, 2011

On making Jimmy Carter look good

Holman Jenkins has a grand op-ed in the Wall Street Journal this morning, comparing the first terms of the Carter and Obama presidencies. Mr. Carter has never been one of my favorites, but that is largely because of his antics since becoming a former president. When he was in office--as Mr. Jenkins points out--he began the process of deregulating American business and stamping out inflation that his successor would continue, thus launching the twenty-year burst of prosperity that we enjoyed in the 1980s and 1990s. Mr. Obama by contrast has done his best to recreate the stagflation of the Carter years. Wouldn't it be wonderful if he devoted his last year in office to undoing that damage? Mr. Jenkins isn't optimistic:

The suspicion becomes nigh irresistible, however, that Mr. Obama is lacking in the leadership department as the country stumbles towards its ultimate financial crisis. But give him credit for one world-historical achievement: He makes Carter look good.
Blue skies! -- Dan Ford

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