President Obama’s approval rating is at or near its nadir. Beltway centrists fault Obama and the Democrats for embracing “economic populism.” The Department of Health and Human Services just had to issue even more Obamacare extensions. The Democratic-controlled Senate is so dysfunctional that it’s pulling all-nighters, and 2013 is on track to hold the record for Congress’ least-productive year. Washington Post columnist Charles Krauthammer, hurling an Olympian thunderbolt from atop the New York Times non-fiction best-seller list, accuses Obama of “a passivity that verges on absenteeism.”
Sounds pretty bad. But the truth is, things are actually looking up for the president and his party.
Yes, Obama’s approval rating is low, but the good news is that it’s stopped dropping after seven months of decline. And let’s keep that drop in context: Obama’s lowest-ever approval rating still remains higher than that for every president since Gerald Ford.
The economic populism that the chattering class can’t abide consists of Obama talking about the three-decade growth in income inequality, a social catastrophe largely ignored by every other president since it began in 1979—no, it hasn’t (as Krauthammer claims) “always been with us.” The president’s proposed solution is a politically popular increase in the minimum wage—an increase, incidentally, that’s lower than the one Obama promised in the 2008 election (which he won). Among the many virtues of a minimum-wage increase is that it would increase the budget deficit by precisely zero.
The Obamacare extensions are something that will make the Affordable Care Act work better, which is why Republicans are squawking about them. Overall, the trajectory is favorable, with more than double the signups in November than occurred in October. I signed up my family on Dec. 8 on the Washington, D.C. exchange. The website was a bit balky, but no worse than I’m used to whenever I cash in frequent flyer miles (on a website for a company that’s been around since 1930). I chose the second-most expensive plan available and still cut my monthly health insurance bill by $600. People are starting to complain about the high deductibles, but from Obama’s point of view, criticisms of Obamacare must feel like a giant step past questioning of whether it should exist. (To the extent the complainers are Republicans, they’re being hypocritical.)









