One of the dangers of front-loading all of one's major legislative goals into the first six months of a presidency, as Barack Obama has done, is that if he fails to get cap and trade and health care reform, his agenda will pretty much grind to a halt. It'll be extremely difficult for him to recover his political momentum and do anything much after these signature items have gone down in flames. He'll be a lame duck with three years left to go in his first term.
That these items will fail to be enacted is much more likely if unemployment continues to rise into double digits, and people have the sense that the stimulus was a boondoggle. Confidence in the president and his prescriptions for the nation's problems will evaporate and it'll be very hard for him to muster support for anything else he wants to do.
This is why the president seeks to impress upon us a sense of urgency. It's crucial that congress rush these bills to a vote, not because they must be enacted soon - much of the health care legislation would not take effect until three years after the bill is signed - but because he knows that they will never get passed if the economy worsens further. He also knows that the more time people have to ponder what his legislation entails the more the opposition to it will mount.
The Catch-22 is that the President has to get these bills passed before the economy gets worse, but if he passes them it's almost certain that that in itself will make the economy worse.
RLC