If Obama wins, to put it bluntly, he will become the Democrats’ Reagan. The narrative writes itself. He will emerge as an iconic figure who struggled through a recession and a terrorized world, reshaping the economy within it, passing universal health care, strafing the ranks of al -Qaeda, presiding over a civil-rights revolution, and then enjoying the fruits of the recovery. To be sure, the Obama recovery isn’t likely to have the same oomph as the one associated with Reagan—who benefited from a once-in-a-century cut of top income tax rates (from 70 percent to, at first, 50 percent, and then to 28 percent) as well as a huge jump in defense spending at a time when the national debt was much, much less of a burden. But Obama’s potential for Reagan status (maybe minus the airport-naming) is real. Yes, Bill Clinton won two terms and is a brilliant pol bar none, as he showed in Charlotte in the best speech of both conventions. But the crisis Obama faced on his first day—like the one Reagan faced—was far deeper than anything Clinton confronted, and the future upside therefore is much greater. And unlike Clinton’s constant triangulating improvisation, Obama has been playing a long, strategic game from the very start—a long game that will only truly pay off if he gets eight full years to see it through. That game is not only changing America. It may also bring his opposition, the GOP, back to the center, just as Reagan indelibly moved the Democrats away from the far left.
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