Assume Obama actually said this:
“FDR’s initial steps did actually work,” Obama said at the meeting, according to King. Obama went on to say, “Then he [FDR] pulled back towards a balanced budget, and then what you had was a recession within a depression. Then World War II came along and was the biggest stimulus plan ever.”
(I found this via John Lott.)
Now, as many of us know, the stimulus package is a waste. It will not solve the problem, but rather exacerbate it. So, assume complete good faith on Obama's part. He throws what he thinks is enough money at the economy. Instead of realizing his failure is due to contravention of economic law, he will use his same fuzzy thinking on the New Deal to rationalize the failure. This vast stimulus package won't be 'enough'. Political pressure will be ratcheting up to stop being fiscally stupid, but he will think his error was not spending enough. Meanwhile, there's the fascinating world of foreign policy!
Obama said during the debates he thinks there are times when there is a moral obligation to go to war- he was refering to Darfur at the time, but a moral obligation to go to war is even easier to manipulate than the term 'national security interests.' Wouldn't Obama's assumption that the war helped the economy become part of the calculus of whether or not to go to war?
There are bound to be conflicts around the world in the next four years. I'm not suggesting Obama would start out seeking war, but I wouldn't be surprised if he did succumb to the Wilsonian weakness. So, I must assume a 'moral' war, one that Obama thinks will have the fortunate side-effect of letting him spend far more money than he otherwise could, may be on the horizon.