There will never be another Ronald Reagan. Never. But President Obama came across as very Reagan-esque tonight by pulling a page out of the Reagan playbook. He simply and effectively explained the economic crisis to the American people. It's called, "Keep it Simple Stupid". It is what Reagan did best and Obama really seemed to lay it out there in a way everyone could understand. Read the text of Obama's speech here.
Reagan was also good at understanding that his audience was always the American people and not the people in the room. President Obama seemed to understand that as well. He may have been in front of Congress but it didn't come across as a speech by a politician to a bunch of politicians. It was pitch perfect.
I was also struck by a shift in tone from the President. Leading up to this speech tonight, he had been pretty grim about the economy. Tonight, while painting a realistic picture, he also seemed to strike a more hopeful tone.
As for substance, I think it's pretty clear that the battle lines have been drawn. While President Obama said tonight he's not a believer in bigger government the reality is that is exactly what is going on here. He says it's necessary and folks, that's the battle in a nutshell. How much should the federal government get involved? What is too much? Obama is saying government must come to the rescue. The Republicans are basically saying more government intervention is not the answer. It's an age-old debate but the stakes are really high this time.
President Obama is betting the farm that increased government spending on healthcare, education and energy will lead to long term prosperity. The question becomes: has he overplayed his hand? Will the American people buy into this notion especially if the money is spent in ways that cater to mostly Democratic party policies? Check with me in November of 2012. Maybe in November of 2010 as well.
President Obama showed tonight he can give a great speech. We already knew that. What we don't know is whether the 787 billion dollar recovery act will really lead to millions more jobs as promised. We don't know if the bank bailout plan will work. We don't know if the Obama administration's plan for long term prosperity will be well received by the American people. Bottom line folks: we are in uncharted territory. It's a huge social experiment with an unknown outcome. President Obama's job is to create it and sell it. He did his part tonight. Americans will be the ones who will eventually render the verdict.
Comments?