As the Pendulum* Swings.
(or be Bold!)

John Judis wrote about the emerging liberal consensus back in November. Could it happen? Kind of exciting. His advice:

These guys--and the others who are counseling Barack Obama and the Democrats to "go slow"--couldn't be more wrong. They are looking at Obama's election through the prism of Jimmy Carter's win in 1976 and Bill Clinton's victory in 1992. Both Carter and Clinton did misjudge the mood of the electorate. They tried unsuccessfully to govern a country from the center-left that was moving to the right (in Carter's case) or that was only just beginning to move leftward (in Clinton's case)--and they were rebuked by voters as a result.

Obama is taking office under dramatically different circumstances.

Nobel Laureate Paul Krugman agrees:

The reality of this [Southern] strategy’s collapse has not, I believe, fully sunk in with some observers. Thus, some commentators warning President-elect Barack Obama against bold action have held up Bill Clinton’s political failures in his first two years as a cautionary tale.

But America in 1993 was a very different country - not just a country that had yet to see what happens when conservatives control all three branches of government, but also a country in which Democratic control of Congress depended on the votes of Southern conservatives. Today, Republicans have taken away almost all those Southern votes - and lost the rest of the country. It was a grand ride for a while, but in the end the Southern strategy led the G.O.P. into a cul-de-sac.

Mr. Obama therefore has room to be bold. If Republicans try a 1993-style strategy of attacking him for promoting big government, they’ll learn two things: not only has the financial crisis discredited their economic theories, the racial subtext of anti-government rhetoric doesn’t play the way it used to.

Will the Republicans eventually stage a comeback? Yes, of course. But barring some huge missteps by Mr. Obama, that will not happen until they stop whining and look at what really went wrong. And when they do, they will discover that they need to get in touch with the real "real America," a country that is more diverse, more tolerant, and more demanding of effective government than is dreamt of in their political philosophy.

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*Actually looks like the whole pendulum apparatus is moving to the left.