The obvious difference between Roosevelt’s position in 1940 and Obama’s in 2010 was World War 2. That global conflict destroyed practically the entire productive capacity of the industrialized world with the exception of the US. It allowed for an unparalleled economic expansion and was followed by a burgeoning demographic explosion we know as the Baby Boom. Those two factors together made Roosevelt’s entitlements appear to be sustainable. Even Lyndon Johnson’s Great Society 20 years later could still count on riding those two trends. Today’s crisis is largely the result of the final exhaustion of those twin booms. Where FDR found himself at the beginning, Obama finds himself at the end.
Read the whole thing. Tomorrow we return to our regularly scheduled gun blogging, but I thought this health care vote was historic enough to warrant a day’s coverage.