If Barack Obama Were a Gambler …

As the Financial Times noted, if Barack Obama were a gambler, he would be a very rich man. By focusing on health care reform, he won all the chips on the table. The alternative would not only have been a political failure but would have cost Obama his re-election.

So what will Obama do with his win? The initial plan was to first gain approval for health care reform, which had been in the making since last September, and then move quickly to other big reforms, such as imposing limits on CO2 emissions through allowances [via a cap and trade system], regulation of Wall Street and improving America’s immigration system.

But now, despite the victory, the tone of the White House is becoming more realistic. According to the Financial Times, the passing of health care reform won Obama a place in history. However, public opinion is still in disarray. The benefits of health care reform will not be felt for a few more years, and despite all of Obama’s achievements, including his success in preventing the Great Recession from becoming another Great Depression, citizens remain distrustful. During the week in which the health care legislation became law, Obama’s approval rate fell to under 50 percent. This is a warning signal for the prospects of the Democratic Party in the upcoming congressional elections.