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Credit...Pool photo by Stefani Reynolds A dozen years ago, just before Barack Obama was sworn in as president amid the Great Recession, I wrote a disconsolate column titled “The Obama Gap.” At a time when many viewed the president-elect as a transformational figure, I lamented the caution of his economic policy. His proposed stimulus, I argued, would fall well short of what was needed. Sadly, I was right. And as I also warned at the time, Obama didn’t get a second chance; the perceived failure of his economic policy, which mitigated the slump but didn’t decisively end it, closed off t...

“True Perversity”: Mitt Romney’s Obscene Posturing As A Wall Street Critic Among the many obfuscations of Mitt Romney last night, this was perhaps the biggest laugher of them all: ROMNEY: Dodd-Frank was passed, and it includes within it a number of provisions that I think have some unintended consequences that are harmful to the economy. One is it designates a number of banks as too big to fail, and they’re effectively guaranteed by the federal government. This is the biggest kiss that’s been given to—to New York banks I’ve ever seen. This is an enormous boon for them. There’...

“From The Mouths Of Babes”: The Ugly, Immoral, Destructive War Against Food Stamps Like many observers, I usually read reports about political goings-on with a sort of weary cynicism. Every once in a while, however, politicians do something so wrong, substantively and morally, that cynicism just won’t cut it; it’s time to get really angry instead. So it is with the ugly, destructive war against food stamps. The food stamp program — which these days actually uses debit cards, and is officially known as the Supplemental Nutrition Assistance Program — tries to provide modest but cru...