We in politics are accustomed to seeing reality firsthand and then watching its distant cousin, events as portrayed by the media, unfold on our televisions. We know that what happened in Congress and what is reported to have taken place are two very different things. But that disjuncture, so familiar to politicians, is new to the viewing public. By seeing war and war coverage juxtaposed nightly on their screens, Americans have learned the crucial lesson: not to trust the news anchors.

Democrats are not about to nominate anyone who backs the tax cut, and Americans are not going to elect anyone who favors a tax increase.

Growth demands investment, and investment demands stability. So the more Obama stirs the pot with his proposals and potential changes, the more he retards exactly the investment he needs to get the economy moving again.

In the name of short-term stimulus, he [Obama] will give every American family (who makes less than $200,000) a welfare check of $1,000 euphemistically called a refundable tax credit. And he will so sharply cut taxes on the middle class and the poor that the number of Americans who pay no federal income tax will rise from the current one-third of all households to more than half. In the process, he will create a permanent electoral majority that does not pay taxes, but counts on ever-expanding welfare checks from the government.

Legislative action will never bring genuine campaign-finance reform. Consultants will prove endlessly inventive in gaming whatever system the reformers can devise so as to give their candidate an edge and allow the power of massive money to be felt. But reform laws will become irrelevant and redundant as the Internet replaces the special-interest fat cats as the best way to raise money and takes the place of TV as the most effective way to get votes.

The greater informational levels of the voters, their decreasing inhibitions in expressing disagreement, and their greater preference for Jeffersonian direct involvement, all make the need for a 'permanent campaign' to sell a president's policies all the more crucial.

With a congressional mandate to run the deficit up as high as need be, there is no reason to raise taxes now and risk aggravating the depression. Instead, Obama will follow the opposite of the Reagan strategy. Reagan cut taxes and increased the deficit so that liberals could not increase spending. Obama will raise spending and increase the deficit so that conservatives cannot cut taxes. And, when the economy is restored, he will raise taxes with impunity, since the only people who will have to pay them would be rich Republicans.