- Apr 12, 2008
- Reaction score
- real world
Mr. Obama spoke of the transformative domestic policies he had promised and now would pursue. Mr. Geithner, say people familiar with the exchange, cautioned that the crisis Mr. Obama had inherited was so severe that it would constrain him.
“Your legacy is going to be preventing the second Great Depression,” Mr. Geithner said.
Vexed, Mr. Obama replied, “That’s not enough for me.”
"And there you have it: an advisor giving the president-elect wise advice, which was instantly rejected as insufficiently transformative. The rest is history."
"From the moment he was elected, Obama had two agendas—the agenda of choice, on which he had waged his campaign, and the agenda of necessity, forced upon him by events. In effect, Geithner was arguing that the latter would require the president-elect to defer much of the former. Obama responded by deciding to do both, simultaneously. That is the choice that led to a year spent on measures such as health insurance reform and cap-and-trade legislation. While the former was successful and the latter failed, both initiatives no doubt measurably contributed to the Democrats’ 2010 mid-term debacle."