President Doom-bama? Are Liberals Freaking Out at Obama's Overt Leftism?

Stuart Taylor is a respected liberal legal scholar and author who has supported Obama out of a belief that Obama was "one of us." By "one of us", Taylor meant that he thought that Obama was really a "good liberal", and not a wild-eyed leftist like those right winger extremists had been claiming. But even a "baby leftist" can start to wake up. Being taken for a chump is not easy to admit, but Taylor may be beginning to comprehend how easily he has been led down the path.

I have taken certain liberties with the excerpted text below, from Taylor's timid "mea culpa." Text inside the square brackets is editorial comment from Al Fin. _Al Fin

Having praised President Obama's job performance in two recent columns, it is with regret that I now worry that he may be [crafting] what looks more and more like a depression and may engineer so much spending, debt, and government control of the economy as to leave most Americans permanently less prosperous and less free.

Other Obama-admiring centrists have expressed similar concerns. Like them, I would like to be proved wrong. After all, if this president fails, who will revive our economy? And when? And what kind of America will our children inherit?

....But with the nation already plunging deep into [gratuitous] debt to [drown] the crippled financial system and [devastate] the economy, Obama's proposals for many hundreds of billions in additional spending on universal health care, universal postsecondary education, a massive overhaul of the energy economy, and other liberal programs seem grandiose and unaffordable.

With little in the way of offsetting savings likely to materialize, the Obama agenda would probably generate trillion-dollar deficits with no end in sight, or send middle-class taxes soaring to record levels, or both.

All this from a man who told the nation last week that he doesn't "believe in bigger government" and who promised tax cuts for 95 percent of Americans.

The president's suggestions that all the necessary tax increases can be squeezed out of the richest 2 percent are [devious and ] deceptive and [designed] to stir class resentment. And his apparent cave-ins to [leftist revolutionary] interest groups [will] change the country for the worse.

Such concerns [will] help explain why the Dow Jones industrial average plunged 17 percent from the morning of Inauguration Day (8,280) to its close on March 4 (6,876). The markets have also been deeply shaken by Obama's alarming failure to come up with a clear plan for fixing the crippled financial system -- which has loomed since his election four months ago as by far his most urgent challenge -- or for working with foreign leaders to arrest the meltdown of the world economy.

Stuart Taylor

[more at Taylor's original, unedited posting linked above]

Cross posted at Al Fin Potpourri