"The economic emergency, however, is not simply the consequence of
mindless, ideological deregulation and investment bubbles gone
bust. It is the result of a narrowly conceived economic model and
the failure of Washington's social contract with America, whose
weaknesses were essentially disguised by ever more debt. To save
America, that social contract has to change, and the economic model
on which it is based has to be modified. ..the hope, by no means a
fantasy, is that Obama may have proven to Americans that government
can work. That, of course, is the key to success. To do so,
however, will require shedding some of the ideological baggage of
the Rubinomics holdovers he has advising him."