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This is worth recalling during the debt-ceiling debate. This latest chapter of Obama-era high drama comes amid high unemployment, anemic growth, exploding deficits and collapsing public confidence. Americans deeply want a change. Theyve given the president time for his experiment in spending the countrys way to prosperity, and they have concluded that his course has failed.
In the debt-ceiling debate, Mr. Obama had his best and last moment to restrain federal spending and thereby change the trajectory of his profligate presidency. But he let it pass.
He will come to regret his decision. Those who argue that the debt-ceiling controversy will resuscitate Mr. Obamas political fortunes are wrong, at least so far. According to Gallup, Mr. Obama averaged a 43% job-approval rating for the week of July 18-24, matching his lowest weekly average.
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