Tuesday, June 16, 2026

The Obama legacy

 Summary of international and national legacy.

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Obama’s Legacy Is the Trump Presidency

His foreign policy was one of retrenchment, and his signature health-insurance law made things worse.

Matthew Continetti

ET

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A statue of former President Barack Obama and Michelle Obama in Chicago, June 3. Talia Sprague/Bloomberg News

Close to a decade in the making, the $850 million Obama Presidential Center opens to the public on Friday. The 225-foot brutalist building—dubbed the Obamalisk—looms over a 19-acre campus on Chicago’s South Side. Even the most imposing facade can’t mask the failures of the 44th president.

Barack Obama has remained popular. As America’s first black president, he is guaranteed a place in history. But his grand ambitions now seem quaint. In 2008 Mr. Obama likened himself to Ronald Reagan, who he said had “changed the trajectory of the nation.” If Mr. Obama altered the nation’s direction, it was toward decline.

Start with foreign policy. Throughout his presidency, Mr. Obama sought to retrench U.S. power. His “reset” with Russia, surge of forces in Afghanistan, withdrawal from Iraq, and failure to enforce red lines in Syria had lethal effects. In his first term, Mr. Obama canceled missile defenses and promised Russia more “flexibility” in his second. He tolerated dictators such as Nicaragua’s Daniel Ortega and Venezuela’s Hugo Chávez and Nicolás Maduro, even taking in a soccer game alongside Cuba’s Raúl Castro.

Ambivalence and half-steps marked Mr. Obama’s efforts in the Middle East. He paired an increase in troop levels in Afghanistan with a timeline for withdrawal—thereby giving the Taliban reason to keep fighting. He alternated between apathy and encouragement as Islamist uprisings overthrew strongman allies in Egypt, Tunisia and Yemen. U.S. intervention in Libya’s civil war contributed to the migrant crisis that overwhelmed Europe. America’s retreat from Iraq in 2011 created space for the rise of ISIS in 2014.

Mr. Obama’s hundreds of drone strikes and the successful attack on Osama bin Laden didn’t halt terrorism. On the contrary, jihadism spread. Global disorder spiked. America’s standing took a hit. In 2013 Mr. Obama backed off his pledge the previous year to retaliate if Syrian dictator Bashar al-Assad used chemical weapons. Then he invited Russia to play a role where it had been absent for decades. In 2014 Vladimir Putin annexed Crimea and launched an insurgency in Ukraine’s Donbas region. Secretary of State John Kerry chided Mr. Putin for “19th-century behavior.” Mr. Putin ignored him.

Russia wasn’t the only U.S. adversary that grew stronger. The Joint Comprehensive Plan of Action, Obama’s 2015 deal with Iran, legitimized the Islamic Republic’s nuclear program. The regime’s missile production and support for terrorist proxies went unaddressed. America sent more than a billion dollars to Iran even though it wouldn’t disclose its nuclear secrets or submit to anytime, anywhere inspections. Money flowed to the regime. The mullahs poured these resources into their “ring of fire” targeting Israel.

The JCPOA was only one point of dispute between Mr. Obama and Prime Minister Benjamin Netanyahu. The two leaders clashed over settlements, Gaza, Lebanon, the two-state solution and Mr. Netanyahu’s address to Congress in 2015. By the end of Mr. Obama’s presidency, tensions had reached the point that the U.S., for the first time in 35 years, refused to veto an anti-Israel U.N. resolution. The “daylight” Obama fostered between the U.S. and Israel didn’t go unnoticed. It illuminated a path to power for anti-Israel activists in the Democratic Party—a path they have traveled.

Meanwhile, North Korea improved its nuclear arsenal, and Mr. Obama’s ballyhooed “pivot to Asia” didn’t slow China’s rise. How could it? U.S. military budgets fell, eroding the defense industrial base and contributing to weapons shortages. Mr. Obama’s environmental policies bolstered China’s green energy advantage. Foreign and domestic policy combined to undermine the U.S. position.

If Mr. Obama was a minimalist abroad, he was a maximalist at home. He used executive power whenever Congress or the public rebuffed him. When cap-and-trade legislation failed, Mr. Obama took executive action that required neither congressional approval nor democratic consent. The Paris Climate Accord, Clean Power Plan and Clean Water Rule extended government’s hand into the economy’s nooks and crannies, suppressing growth.

Mr. Obama’s disregard for voters was also evident in healthcare and immigration. He jammed the unpopular Affordable Care Act—ObamaCare—through Congress with the promise that Americans could keep their plans and premiums would fall. Millions of individual health insurance plans were canceled and premiums doubled. Changed beyond recognition, ObamaCare is a zombie policy. Its costs continue to mount.

Eager to secure Hispanic votes for re-election, Obama issued the Deferred Action for Childhood Arrivals order in the spring of 2012. He then spent years saying he lacked constitutional authority to expand the program—before doing exactly that after Republicans picked up 13 House seats and nine Senate seats in 2014.

The cavalier attitude with which Mr. Obama imposed such policies, acting as if the opposition didn’t exist or was beneath consideration, made backlash inevitable. The public rebelled against Mr. Obama’s governing style, handing Republicans Congress, a majority of governor’s mansions and most state legislatures by 2017. Donald Trump’s presidency may be Mr. Obama’s most enduring legacy.

Mr. Obama’s vaunted political instincts were ineffective against Mr. Trump. He lost his touch. The 2024 election exposed the depth of Mr. Obama’s estrangement from a country that still looks on him fondly, if distantly. His impassioned speech at the Democratic convention couldn’t carry Kamala Harris over the finish line. His accusation that black men “just aren’t feeling the idea of having a woman as president” dripped with condescension and false motives. The “bitter clingers” Mr. Obama disdained in 2008 had been racially integrated.

Mr. Obama’s presidency casts a fading shadow. Most of his plans have been dashed, his achievements reversed. He promised to lay “a new foundation” for the country—only to see his successor tear it up. He won’t be known for lasting reform, but for symbolizing an era of rapid social change and preparing the way for Mr. Trump’s rise, fall and restoration.

The true story of Mr. Obama is hubris meeting nemesis. But you won’t hear about that at the Obamalisk.


Musk and Space X

 

Who Wants to Be a Trillionaire?

The SpaceX IPO is a credit to Elon Musk and American capitalism.

ET

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A live feed shows SpaceX CEO Elon Musk on the day of SpaceX's initial public offering (IPO) at the Nasdaq MarketSite in New York City on Friday. Jeenah Moon/Reuters

Shares in SpaceX skyrocketed following its record $75 billion initial public offering on Friday, apparently making Elon Musk the world’s first trillionaire—at least on paper. In our political age of envy, the press and Democrats are preoccupied by his otherworldly wealth. But deserving more attention is how he has enriched the country by building a remarkable company.

At the close of trading on Friday, SpaceX boasted a $2.1 trillion—yes, trillion—market valuation. The company raised $75 billion in its public debut, nearly three times more than the previous largest IPO (Saudi Aramco in 2019). It will need that money and multiples more to achieve Mr. Musk’s ambition of colonizing Mars and mining asteroids.

If the IPO had happened in China, the press would be mourning America’s economic decline. Instead, they are lamenting Mr. Musk’s riches. “Elon Musk is the world’s first trillionaire,” Bloomberg News writes. “He could theoretically do a lot with all that money—like fund 68 US election cycles or buy every carmaker in the US, Europe and Japan.” The grievance mood is strong these days at Bloomberg and most of the rest of the financial press.

Mr. Musk’s wealth largely consists of shares in SpaceX and Tesla. Their current stratospheric values could crash if the companies fail or investors lose faith in Mr. Musk. And mom and pop investors should know the risks in buying SpaceX shares. In any event, Mr. Musk’s wealth is a tribute to U.S. entrepreneurship and innovation, which are byproducts of its free-market system.

Mr. Musk, an immigrant from South Africa, launched the rocket company in 2002 with money he made from his PayPal startup. “It is certainly hard to believe that little company that started in a warehouse in El Segundo is now going public with the largest IPO ever,” he said Friday. SpaceX faced many early setbacks. Its Falcon 1 failed three times before reaching orbit in 2008.

A few months later, NASA awarded SpaceX a contract to supply the International Space Station. SpaceX later developed reusable rockets that greatly reduce launch costs, which the Chinese are still trying to achieve. Its success, which came through trial and failure, has ended U.S. reliance on Russia to transport astronauts to the space station and launch American satellites. The company is the leading edge of what could be the space economy.

In 2015 SpaceX launched Starlink, an internet satellite company that has helped Ukraine resist Russia’s invasion and dissidents living under authoritarian regimes like Iran to communicate. Mr. Musk this year merged his social-media company X.com and xAI startup with SpaceX, providing them with a vehicle to go public.

SpaceX has created thousands of jobs in working-class communities where it operates. That includes Hawthorne, Calif., Bastrop and McGregor in Texas, Memphis, Tenn., and Southaven, Miss. Its workers—including hourly blue-collar workers—receive stock options, which has allowed them to share in the company’s success.

By one estimate, the IPO has made millionaires of 4,400 SpaceX current and former employees, including 400 who hold shares worth more than $100 million. If you listen to union leaders and progressives, billionaires get rich by exploiting workers. SpaceX couldn’t succeed without its workers—as it notes in its IPO prospectus—and they would leave if they felt abused.

The IPO is giving workers and retail investors a chance to share in any future growth. It’s also allowing venture investors to cash out and pour their windfalls into new startups working on innovations that could improve and even save lives—e.g., cancer vaccines. Who knows which of these companies could someday be worth a trillion dollars?

With their envy of success and wealth, our political class ignores that financial rewards are what spur investors and entrepreneurs to take risks on companies that make all Americans better off. You don’t have to like Mr. Musk to appreciate what he has built.


Elon Musk got rejected by Netscape. He walked into the lobby, was too shy to talk to anyone, and walked out. Never got the job. At his first company Zip2, the board demoted him. Twice. They refused to let him be CEO. He got fired from PayPal as CEO while flying to his own honeymoon. The board voted him out mid air. He almost died of malaria in 2000. Ten days in intensive care. Lost 45 pounds. A day from death. His first child died at 10 weeks old. His first rocket exploded. Falcon 1, flight one. Burned on the pad. His second rocket exploded. His third rocket exploded. The last of his money was nearly gone. Tesla nearly went bankrupt in 2008. The closest he ever came to a nervous breakdown. Both companies almost died on the same Christmas Eve. He was sued by investors. Mocked by the people who built cars before him. His childhood heroes, the astronauts who inspired him, testified against his company to Congress. The Cybertruck window shattered on live stage in front of the world. He overpaid for Twitter by his own admission and watched its value collapse. He was beaten unconscious as a child and thrown down a flight of stairs. He has said he goes to sleep alone and it kills him. He failed in public, over and over, for thirty years. He is the richest man in the history of the world. The difference was never the absence of failure. It was the refusal to stop after it.


November 2023. The most powerful companies on Earth lined up to make him kneel. Disney. Apple. IBM. Comcast. They pulled their money and waited for the apology. The whole press corps wanted one word out of him. Sorry. Sorkin leaned in and offered him the exit. Just walk it back. Musk: “If somebody’s going to try and blackmail me with advertising, blackmail me with money, go fuck yourself.” No retraction. No cleanup post at 2am. No quiet calls begging the brands back. They wrote that it was over. That he’d finally buried his own company. He was worth around $230 billion that night. This week SpaceX went public. He became the first trillionaire who has ever lived. Forbes puts him at $1.1 trillion. Almost four times the next richest person alive. This was never about him. The people threatening you only hold the power you agree to hand them. Every time you apologized to keep the peace, you taught them the price was you. He refused to pay it once, in front of the entire world. The world blinked first. The crowd never remembers who knelt. It remembers who refused to flinch. The only person who can ever make you beg is you.

https://x.com/r0ck3t23/status/2066051167876948279?s=20




Elon Musk: “The reason I felt that it was important to acquire Twitter was because I could feel the walls closing in. It was outrageous that they suspended the account of a sitting president And I think it was only a matter of time before they suspended my account. Twitter and, well, pretty much all the social media companies, and Google and everyone, are controlled by far-left activists. That’s the truth of it. How do you know what’s real when it’s all filtered through a far-left San Francisco Berkeley lens? They just manipulate the truth constantly."


Let me break this down for people like Elizabeth Warren and Graham Platner who just can't seem to understand how could become the world's first trillionaire without a rigged economy. They're saying a man who risked everything to RESET the space industry, inventing sustainable space travel with reusable rockets that land themselves, who stepped up and SAVED astronauts from space because Boeing and NASA couldn’t do it, doesn’t deserve his wealth? Or a man who pioneered electric vehicles while the rest of the auto industry said it could never happen, THEN GAVE HIS TECHNOLOGY AWAY FOR FREE, didn't earn that money? I don't see Pfizer doing that. Or a man who saved free speech and gave a voice to the voiceless across the world by buying Twitter and creating X? And who provided people in remote areas, totalitarian states, and warzones with access to the outside world through Starlink? That man should be punished with a wealth tax?



This was the point I decided Elon was a moral hero of mine. He refused to bend the knee, even he was rightly worried about the future of X and burning cash, he said basically "I'm not going to take money from the devil just to live." He held principles over money. That is a *good* person, and extremely rare.



Didn’t like the language but it clearly shows it’s not about the money and he can’t be bought! He’s definitely one of the heroes and the world is better because he’s in it!








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