Diary

The Power is Shifting

24 November 2008

image I remember reading a reminiscence either by President Truman or Eisenhower about the remarkable change they felt the day after they handed over the presidency: While the day before everyone was most interested in them, no one wanted now wanted to see them. The office has the charisma, not they as individuals. Democracy is about the peaceful handing over of power. George Bush is getting a first strong taste of what every president seems to go through. The NY Times reports: 

In an effort to inject confidence into the quavering financial markets, Mr. Obama made certain that his first formal cabinet announcement dealt with the economy, not, as is often the case with national security or diplomacy. In announcing the nominations of Mr. Geithner, president of the Federal Reserve Bank in New York, and Mr. Summers, a Harvard economist, Mr. Obama sent a signal that he was set to pursue aggressive, yet centrist policies, in crafting moves to help jump-start the economy. He was stretching his economic announcement into a two-day affair, planning another news conference Tuesday to present the rest of his team.

The televised news conference, which came shortly after President Bush made brief remarks at the Treasury Department with Secretary Henry M. Paulson Jr., created a stark image of the transfer of power that is under way in Washington. Mr. Obama and his new team arrived in a room of dozens of reporters, while Mr. Bush stood nearly alone on the steps of the Treasury Department.

Obama Unveils Team to Tackle ‘Historic’ Crisis in Economy - NYTimes.com:

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