With the US economy mired in high unemployment and soaring government deficits, President Barack Obama admitted “I might have misunderestimated the impact of the recession,” but insisted “no one else had any better ideas for how to proceed to a recovery.” Hailing the reconstituted General Motors as an example, Obama suggested that “we could’ve been more aggressive in inserting government direction into more sectors of the economy. Fortunately, it’s not too late to pick up the pace of government oversight of business investments and operations.” The president then blamed himself for “excessive deference to Congress. I was hoping everyone would...