Anyone who read Obama’s books should have expected as much but few took him at his word. Now they are learning to do so. The Economist editors write (6/12/10 p. 13): “Mr Obama deserves to be pegged back. This newspaper supported him in 2008 and backed his disappointing-but-necessary health-care plan. But he has done little to fix the deficit, shown a zeal for big government and all too often given the impression that capitalism is something unpleasant he found on the sole of his sneaker. ”
Given BP’s contribution to Obama’s election and advocacy of global warming legislation, it may be getting what it deserves. But I cannot but wonder whether the US would lose its reputation as a place where free enterprise is protected by the rule of law. If America behaves is no safer than China or Venezuella, why pay the premium needed to invest in it?!