"evidence is now pointing pretty strongly in one direction: history books may conclude that the financial crisis of 2008 turned out to be far less bad than it could have been and that Washington deserved much of the credit"

Lord, I hope so.

Sucks to be a conservative predicting the nation was going to collapse under Obama eh? At what point do people start to get a little embarrassed when their spouted nonsense comes back to roost on them?

Temporary relief. Yes, I know, I sound like I'm raining on Obama's parade, but this is just the tip of the iceberg. Real reform (starting with Defense and Healthcare) are needed, otherwise the weight of America's debt will sink her.

Agree completely. But I wonder if, without some economic hope, both Republicans and Democrats would refuse to let go of the defense contracting jobs that have been so strategically planted in their districts. What's possible is so shaped by generic perceptions!
And, I suspect that defense reform is MUCH harder than health insurance reform, and much more subject to GOP scares. Healthcare passing with some success, and economy showing some signs of rebound, could give some of the cred needed to fight that fight. If Obama is willing to take it on.