Thank you for flip flopping (or in leftspeak, "caving" -- to reality, usually)

Phil Levy:

For the second time in a week, the Obama administration has discarded a major campaign pledge on international economic policy. In its decision last week not to name China a currency manipulator, and now to forswear renegotiation of NAFTA, the administration avoided two potentially costly mistakes.

Greg Mankiw is delighted:

My biggest fear about international economic policy was that the President might actually follow through on his campaign rhetoric. So this news is a great relief.

Original blame lies with the vagaries of Democrats' primary politics; Hillary Clinton was just as bad. I'm glad President Obama and his advisors are smarter than Candidate Obama and his base.