According to Jacob Weisberg:
[The] conventional wisdom about Obama’s first year isn’t just premature—it’s sure to be flipped on its head by the anniversary of his inauguration on Jan. 20. If, as seems increasingly likely, Obama wins passage of a health care reform a bill by that date, he will deliver his first State of the Union address having accomplished more than any other postwar American president at a comparable point in his presidency. This isn’t an ideological point or one that depends on agreement with his policies. It’s a neutral assessment of his emerging record—how many big, transformational things Obama is likely to have made happen in his first 12 months in office.
Obama’s claim to a fertile first year doesn’t rest on health care alone. There’s mounting evidence that the $787 billion economic stimulus he signed in February—combined with the bank bailout package—prevented an economic depression. Should the stimulus have been larger? Should it have been more weighted to short-term spending, as opposed to long-term tax cuts? Would a second round be a good idea? Pundits and policymakers will argue these questions for years to come. But few mainstream economists seriously dispute that Obama’s decisive action prevented a much deeper downturn and restored economic growth in the third quarter. The New York Times recently quoted Mark Zandi, who was one of candidate John McCain’s economic advisers, on this point: “The stimulus is doing what it was supposed to do—it is contributing to ending the recession,” he said. “In my view, without the stimulus, G.D.P would still be negative and unemployment would be firmly over 11 percent.”
When it comes to foreign policy, Obama’s accomplishment has been less tangible but hardly less significant: He has put America on a new footing with the rest of the world. In a series of foreign trips and speeches, which critics deride as trips and speeches, he replaced George W. Bush’s unilateral, moralistic militarism with an approach that is multilateral, pragmatic, and conciliatory. Obama has already significantly reoriented policy toward Iran, China, Russia, Iraq, Israel, and the Islamic world. Next week, after a much-disparaged period of review, he will announce a new strategy in Afghanistan. No, the results do not yet merit his Nobel Peace Prize. But not since Reagan has a new president so swiftly and determinedly remodeled America’s global role.