Starting today, we must pick ourselves up, dust ourselves off, and begin again the work of remaking America. For everywhere we look, there is work to be done. The state of our economy calls for action: bold and swift. And we will act not only to create new jobs but to lay a new foundation for growth.
When my daughter falls down, I usually say, “pick yourself up and brush yourself off.”
Not surprisingly, Barack Obama’s speech today was long on ambitions and short on specifics, as is customary for the occasion. We’ve been writing at length about the economic challenges that the Obama administration faces and some of its policy options, so there’s no need to rehash that in detail today. Suffice it to say that deep crisis creates a rare opportunity, and Obama has the opportunity to leave a greater mark on the economy than any president since Reagan or perhaps FDR.
On another note: Although this blog is generally about economics, I am particularly curious to hear what the new president will say about torture. I drafted a speech that I would like to hear him give over on Talking Points Memo Cafe.