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Recovery As Distraction

It has long seemed to me that President Obama has no interest in economic recovery, except for his recognition that double-digit unemployment poses a threat to his re-election. His interest is in transforming the country, not restoring it to what it was.

That perception has now been confirmed by no less an authority than Larry Summers, in an interview with Financial Times:

?The president made two things clear to us early on,? recalls Summers, who answers my questions in full, idea-packed paragraphs, rocking gently back and forth in his seat as he gets into the flow of an argument. ?He would do what he had to to fix the banking system, to get the economy out of the rut in which he was inheriting it. But he had run for president to do long-run, fundamental things, like fixing healthcare, like having real energy policy, like reforming education. And we weren?t going to be distracted from those things.?

Note that revealing ?but.? Sure, he?d do what?s necessary ?to get the economy out of the rut,? but he?s determined not to let economic recovery distract him from his real goals.

Full post as published by Discriminations on July 12, 2009 (boomark / email).