His election is about a long-term change in America’s idea of itself.
The goal of Sen. Obama and the modern, “progressive” Democratic Party is to move the U.S. in the direction of Western Europe, the so-called German model and its “social market economy.” Under this notion, business is highly regulated, as it would be in the next Congress under Democratic House committee chairmen Markey, Frank and Waxman. Business is allowed to create “wealth” so long as its utility is not primarily to create new jobs or economic growth but to support a deep welfare system.
Many voters — progressive Democrats, the asset-safe rich, academics and college students — regard this as where America should go. They explicitly want America’s great natural energies transferred away from unwieldy economic competition and toward social construction. They want the U.S. to reduce its “footprint” in the world. Monies saved by stepping down from superpower status can be reprogrammed into “investments” (a favorite Obama word) in a vast Euro-style hammock of social protection programs.