NEW YORK: In an interview during the 2008 campaign, Barack Obama explained that Ronald Reagan had changed the trajectory of America in a way that Richard Nixon and Bill Clinton did not. Clearly, Obama aspired to be a transformational president like Reagan. At this point, it’s fair to say that he has succeeded. Look at what’s happened during his tenure to the country, his party and, most telling, his opposition.

The first line in Obama’s biography will have to do with who he is, the first African-American President. But what he has done is also significant. In the wake of the financial collapse in 2008, Obama worked with the outgoing Bush administration, Federal Reserve Chairman Ben Bernanke and members of both parties in Congress to respond forcefully to the crisis on all fronts -- fiscal, monetary, regulatory. The result is that the United States came out of the Great Recession in better shape than any other major economy.

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