Divining Obama’s Next Act From His First-Term Record

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Jan. 18 (Bloomberg) -- Presidential inaugurations aretraditionally occasions for stroking one’s chin and offeringsober assessments of what the president and the nation canaccomplish in the next four years.

This is bound to be an exercise in futility. Four yearsago, as Barack Obama took the oath, no one had heard of the TeaParty, Obamacare, the Deepwater Horizon, Abbottabad, the ArabSpring, Sheldon Adelson or the 47 percent. “Sandy” referred tobeaches or a legendary pitcher for the Dodgers, not adevastating hurricane or a shooting at an elementary school.