Barack Obama’s initial approach to the office of the presidency has been as grandiose as Bush’s was restrained. It’s not hard to recall that he ran as a transformative candidate, promising sweeping, though somewhat fuzzy, “change” during the campaign.

For the first several months of his presidency, Obama has labored to deliver on that pledge. He pushed a controversial stimulus bill through Congress to help rev up the economy, turned Bush’s reluctant bailout of Chrysler and General Motors into a giant government auto buyout and appointed a record number of “czars” to help regulate bureaucracies in both public and formerly...

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