Hope even before the honeymoon

Whatever 2009 holds for the nation's economy - and early indications are not encouraging - President-elect Barack Obama appears committed to confronting them forcefully and aggressively. And that is encouraging.

As he begins to roll out his ideas for combating one of the worst economic crises in American history, Obama appears to recognize his unique opportunity to fashion a strategy that, for all its traditionally Republican features, even liberal Democrats can embrace.

He has, for instance, backed away from his earlier pledges to repeal President Bush's tax cuts for businesses before their scheduled 2011 expiration. He has called for $300 billion in tax cuts for wage earners. He has vowed to ride herd on Congress' precious earmarks.

These are not traditionally features in the forefront of Democratic economic thinking. Yet, with his undisputed credentials supporting traditional interests of workers along with massive proposals for job creation, additional protections for people who lose their jobs and a nod toward goals like alternative energy development, Obama has put together the framework for an economic attack that is both bold and promising.

It is frightening, too, to be sure. The mere notion of Congress salivating over an $850 billion proposal and preparing us all for, as Obama himself warned, trillion-dollar deficits for years to come rightfully sends shivers down the spine.

But it also appears clear that we must act boldly and promptly if we are to tame the economic beast that already has done so much to ravage the American dream for so many. So far, Obama is delivering on those two fronts and without being reckless about it.

Indeed, with the questionably administered $700 billion financial bailout still fresh in all our minds, he has promised strict oversight of the various dimensions of his proposals.

He also has promised something else not generally identified with Democratic thinking - spending cuts. Precisely how that will happen while the government is simultaneously jolting the economy with billions of stimulus dollars remains to be shown, but it ought not be forgotten. Whatever shape the stimulus package ultimately takes, recovery is going to require some reining-in of traditional government spending.

Initial reactions to Obama's ideas have ranged from outright support from many in his party to at least cautious optimism from Republicans.

Senate leader Mitch McConnell of Kentucky said, "The opportunities for cooperation are numerous." House Republican leader John Boehner of Ohio also promised cooperation, while Senate and House Democratic leaders Harry Reid of Nevada and Nancy Pelosi of California pressed the case for prompt action.

Politically, we haven't yet even entered the new administration's "honeymoon period," so evaluations of Obama's ideas at this early stage must be tempered, of course, with caution. But considering the direction his thinking appears to be taking, it's hard not to feel at least a measure of hope.