Charles Krauthammer: President Obama the visionary, not the accountant, is back

Second, as an end in itself. Fundamentally, Obama is a leveler. The community organizer seeks, above all, to reverse the growing inequality that he dates and attributes to ruthless Reaganism. Now, however, clothed in the immense powers of the presidency, he can actually engage in unadorned redistributionism. As in Tuesday night's $620 billion wealth transfer.

Upon losing the House in 2010, the leveler took cover for the next two years. He wasn't going to advance his real agenda through the Republican House anyway, and he needed to win re-election.

Now he's won. The old Obama is back. He must not be underestimated. He has deftly leveraged his class-war-themed election victory (a) to secure a source of funding (albeit still small) for the bloated welfare state, (b) to carry out an admirably candid bit of income redistribution and (c) to fracture the one remaining institutional obstacle to the rest of his ideological agenda.

Not bad for two months' work.

Charles Krauthammer's email address is letters@charleskrauthammer.com.