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Obama has gestured right by appointing centrists to top positions and embracing a pro-business rhetoric decrying regulatory excess, but also appeased the Democratic base by wisely rejecting calls to put Social Security on the chopping block. Based on his video to supporters, he will call both for deficit reduction in the long term but increased anti-recession spending now, knowing that Republicans won't give him a nickel.
All this will help position him to win re-election in 2012. Having frothing-at-the-mouth Republicans control the House may well be better for Obama than having to deal with a frustrated Democratic Congressional majority.
If you liked Bill Clinton as Triangulator, you will love the era of Triangulation II. The danger, of course, is that the man at the apex of the triangle fares better than his party.
He is now Mr. Reasonable Centrist -- except that in substance there is no reasonable center to be had.
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http://www.huffingtonpost.com/robert-kuttner/fatal-triangles_b_812816.html