Obama's political capital

It was the linkage of these two concepts that, for me, really epitomized the arrogance of the Bush Presidency: "mandate" and "political capital". After winning ("winning") the 2004 election, Bush used these words together in a way that really was completely decoupled from reality.

So imagine my delight when I found a new example of what political capital really is.

On Fresh Air this morning, Pakistani journalist Ahmed Rashid spoke about the perception of Barack Obama by world leaders. Even before assuming the Presidency, Obama enjoys immense popularity in Europe and elsewhere. There is a prevalent feeling that the Obama Presidency represents a new hope for positive relations with the United States. Rashid said that, in his meetings with world leaders, across the board the sentiment is the same: "We can't say no to Obama."

This isn't just chumming up to the Europeans. These good relations have a tangible effect that the Bush Administration apparently wrote off from the get-go. Already, Rashid points out, Denmark and Sweden have become more supportive of the U.S., sending for the first time combat troops to Afghanistan in support of the coalition efforts there. Certainly other NATO allies will be called to contribute more, as well, once Obama takes office. That means less pressure on American forces and less expenditure of American blood.

That, my dears, is political capital. Not capital born of an electoral mandate (though certainly Obama's 6% margin of victory blows Bush's squeaker elections out of the water) but capital born of identity. Barack Obama commands political capital across the globe by virtue of who he is, how he thinks and what he says.

In a world that is now so fragile, that is capital we can spend.

And, while we're at it, let's just celebrate that we're entering into an era where, once again, words and phrases will be expected to comport with reality.