International credibility is to foreign affairs what political capital is to domestic matters. Without it, an American president can exert little influence and thus can get little done.
President Obama has used up nearly all of his political capital. He began his administration with 69 percent approval and 12 percent disapproval. Today, he is underwater at 40-54 according to the latest Gallup poll.
This presents a problem for Obama, but not for his successor. The next president will begin his or term with a strong approval rating, though almost certainly not as strong as Obama’s historically high mark.
Obama has also used up nearly all of his international credibility. Michael Rubinwrites:
In 1994, the United States (and the United Kingdom and Russia) signed an agreement with Ukraine as part of its forfeiture of nuclear weaponry: Russia promised to respect Ukraine’s sovereignty, and the United States and Great Britain agreed to help protect it. That Budapest Memorandum, it turns out, has become meaningless.
So too were American promises to Georgia in 2008. And American promises to Poland and the Czech Republic with regard to missile defense.
The Obama administration’s decision to slash American assistance to Israel’s missile defense—while at the same time enabling between $7 billion and $20 billion in sanctions relief and new investment into Iran—likewise undercuts any lingering hope in Israel or among Israel’s defenders in the United States that Obama would lift a finger if Iranian leaders act on their promise to annihilate the Jewish state.
The world could hardly fail to notice:
Saudi Arabia and Egypt are furious with Obama. And Kuwaiti and Emirati leaders suggest that they can no longer trust American commitments.