William Rees-Mogg: 'Can Obama pull us out of the mud?'

By This Is Money
Updated: 14:51 BST, 25 January 2009

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退役軍人 新聞記者／雑誌記者 and commentator Lord Rees-Mogg says 回復 for the UK will hinge on the success of 大統領 Obama in 取引，協定ing with the US's difficulti es.

Hope: Can Barack Obama lead the way out of the 経済的な murk?

Who will 勝利，勝つ? The 後退，不況 or the 大統領? The 職業s of many British 労働者s will depend on the 勝利者 存在 the new American 大統領, Barack Obama.

If his 政策s 達成する 全世界の 回復, some hundreds of thousands of British 職業s will be saved. If he loses the 戦う／戦い for 回復, some hundreds of thousands of British 職業s will be lost.

In this 戦う／戦い, American 政策 will have a far greater 衝撃 than the 政策s of the British 政府. Since the Second World War our 経済的な 天候 has come to us from across the 大西洋. The 部隊d 明言する／公表するs is still the 支配的な world economy. The British economy is a somewhat doubtful fifth in world 最高位のs.

Last week 大統領 Obama 配達するd his 就任の 演説（する）／住所. There had been some hopes, which I 株d, that he would 配達する one of the 広大な／多数の／重要な 演説（する）／住所s of American 大統領の history. He did not 試みる／企てる to do that. He was trying to lower 期待s rather than 高くする，増す them.

He had won his 選挙 and did not need to 増加する the 巨大な enthusiasm. He 手配中の，お尋ね者 to give the Americans his understanding of the 規模 of their problems, problems that are political, 外交の, 経済的な and 倫理的な.

Obama has moved 速く in 明確に表すing 政策. He says the 全世界の 後退，不況 is the biggest challenge America now 直面するs. He has also 行為／法令／行動するd to 明確に表す a 外交の 政策 for the Middle East.

On Thursday, he went to a small 儀式 at the 明言する／公表する Department - an important 決定／判定勝ち（する）. Under George W. Bush, the 米国防総省 was able to 支配する 外交政策 at the expense of the 明言する／公表する Department; Defence won the 'turf' 戦う／戦いs. Obama was making it （疑いを）晴らす he would support the 当局 of the 明言する／公表する Department to 行為／行う the 外交 of the 部隊d 明言する／公表するs.

He has 任命するd 上院議員 George Mitchell, who did an invaluable 職業 in Northern Ireland, to be his conciliator in the Middle East. Obama has taken the 決定／判定勝ち（する） to の近くに Guantanamo. This is 早い and serious 政策-making. It is also a 復帰 to a more 自由主義の American leadership.

This will help to 回復する 信用／信任 in all areas of 部隊d 明言する／公表するs 政策, not only as the leader of the 外交の world, but also ーに関して／ーの点でs of 経済的な 政策. One of the few sharp 発言／述べるs in the 就任の 演説（する）／住所 was the 大統領's 言及／関連 to the 'greed and irresponsibility' that 与える／捧げるd to the 現在の 後退，不況.

The 去っていく／社交的な Bush 行政 had の近くに links to 塀で囲む Street 投資 banking and had been 同情的な to the large New York banks that ran into trouble. Many Americans, not to について言及する Europeans, 深く，強烈に resent the behaviour of these banks, whose 行為／行う was outrageous. It makes them angry to see taxpayers' money having to be spent on 保釈（金）ing them out.

Obama is not a 塀で囲む Street man. He could have joined one of the 広大な／多数の／重要な New York 法律 会社／堅いs, where anyone of his ability could have earned millions of dollars. He chose to 充てる his career to working with the poor of Chicago. He believes the American 解放する／自由な 企業 system depends on an underlying 倫理的な かかわり合い.

外国人 領土: Obama's distance from 塀で囲む St could be a boon

American 投票者s know their 大統領 is not まず第一に／本来 動機づけるd by money, and they 尊敬（する）・点 him for that. 塀で囲む Street has had its own historic leaders who 受託するd the highest 基準s. Americans 尊敬（する）・点 them, too.

Undoubtedly the 就任の 演説（する）／住所 支持するs a new philosophy for America. American capitalism was able to 勝利，勝つ the 冷淡な War against Soviet 共産主義 because it was a far more successful system and 証明するd able to crea te 非常に／多数の 繁栄する societies that 連合させるd political freedom with social 福利事業.

Social capitalism is not egalitarian, but it does 申し込む／申し出 集まり 繁栄. Democratic parties, whether 名目上 of the Left or the 権利, have 設立する they had to 可決する・採択する some form of social capitalism if they were to 勝利，勝つ the 投票（する）s of modern 集まり 選挙民s.

Although the 部隊d 明言する／公表するs was in some areas いっそう少なく of a 福利事業 society than the European model, American 投票者s also 需要・要求するd a strong social element, whichever party was in office. The question - vitally important to us in Britain - is whether Obama's more 自由主義の approach will be able to stabilise the American economy.

The 民主党員s in the 衆議院 have 現在のd the American 回復 and Reinvestment 計画（する）. This 法案 would 供給する for $550bn (£420bn) of 付加 連邦の 支出 and $275bn in 税金 削減s, of which $185bn would go to individuals.

There are a number of favourable factors. The main 軍隊s of the American 権利 have 苦しむd a serious 敗北・負かす. Bush has retired from office with 是認 ratings in the 20s - だいたい as low as 大統領 Richard Nixon's ratings when he retired in 1974. For the time 存在, 塀で囲む Street has discredited itself. Obama's ratings are in the 80s.

The 民主党員s have a 大多数 in both Houses. This gives the new 大統領 a political base almost as strong as 大統領 Franklin D. Roosevelt in the Thirties. If the US economy needs an 付加 刺激, Obama should be able to get it through 議会.

If the 回復 and Reinvestment 計画（する） does indeed 達成する 回復, Britain will follow. I would see 2011 as the most likely 回復 year. There will still be 激しい residual 損失; it will take time for 失業 to be brought 支援する 負かす／撃墜する, for house prices to 回復する, for banks to 回復する the 信用／信任 to lend. Some of the 繁栄 lost will be lost for good.

Yet now the world has a leader, and the problem is not insoluble. I think 総理大臣 Gordon Bro wn 誇張するs when he says America got us into this mess, but 大統領 Obama is the ideal leader to get us out of it.

We need him to 再開する the 広大な／多数の／重要な engine of the US economy, and to pull Britain out of the mud.