Obama didn’t create that problem, and he can’t fix it on his own. But neither has he done all that he could. He asked Congress to approve a smaller stimulus package than his economic advisors said was necessary. He reappointed a Federal Reserve chairman who has only haltingly pursued monetary expansion that might create jobs. And he let key seats on the Fed go unfilled, then said little as the Senate dawdled in approving them. On this front, his is a record that, despite the demurrals from Hodge and Baker, is better than Hoover’s. But to date, it falls far, far short of FDR’s.

 

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Greg Marx is a CJR staff writer. Follow him on Twitter @gregamarx.