Walter Russell Mead is a liberal, but he recognizes why.

All pundits, including yours truly, get it wrong sometimes, and normally there would be little point in dwelling on past blunders. But it this case, it is worth exhuming these vaporous and embarrassing stupidities for a few moments. Many of our nation’s intellectual leaders wonder why the rest of the country isn’t more respectful of their claims to be guided by and speak for the cool voice of celestial reason. That so many of them gushed over Barack Obama with all of the profundity of reflection and intellectual distance of tweeners at a Justin Bieber concert should help them understand why their claims of superior wisdom are sometimes met with caustic cynicism.

A significant chunk of the American liberal intelligentsia completely lost its head over Barack Obama. They mistook hopes and fantasies for reality. Worse, the disease spread to at least some members of the White House team. An administration elected with a mandate to stabilize the country misread the political situation and came to the belief that the country wanted the kinds of serious and deep changes that liberals have wanted for decades. It was 1933, and President Obama was the new FDR.

They did not perceive just how wrong they were; nor did they understand how the error undermined the logical case they wanted to make in favor of a bigger role for government guided by smart, well-credentialed liberal wonks. Give us more power because we understand the world better than you do, was the message. We are so smart, so well-credentialed, so careful to read all the best papers by all the certified experts that the recommendations we make and the regulations we write, however outlandish and burdensome they look to all you non-experts out there, are certain to work. Trust us because we are always right, and only fools and charlatans would be so stupid as to disagree.

They were fundamentally misreading the mood of the country, the political situation, and the ability of the new president even as they claimed that their superior and universal wisdom gave them the right and the duty to plan the future of vast swatches of the American economy. They were swept away by giddy euphoria even as they proclaimed the virtue of cool reason. Voters could see this; increasingly, they tuned the administration out.