TIME MAGAZINE COMES FULL CIRCLE:

Shot: “The New, New Deal,” Time magazine’s cover story for November 24, 2008, featuring Obama Photoshopped into the second coming of FDR.

Chaser: “Time and the Left Trot Out 75 Year-Old Excuses For the Poor Economy,” Tom Blumer at NewsBusters, yesterday, linking to a story at Time headlined, “This Theory Explains Why the U.S. Economy Might Never Get Better.”

Hangover: “FDR’s policies prolonged Depression by 7 years, UCLA economists calculate,” press release by UCLA, August 10, 2004.

Apparently, Time thought that promoting the incoming 44th president as the next FDR was a tribute, not a warning.