Obama has paid and will continue to pay dearly for betting on his stimulus package. Because of it, the Bush recession is becoming the Obama recession much faster than it would have had he adopted a more gradual approach to solving economic problems. By jumping in immediately, as he did, in order to increase government spending and pass eight years of Democratic dreams in one day, he made the public expect a solution.

There is literally no such thing as an idea that cannot be expressed well and articulately to today's voters in thirty seconds.

Like the battleships of old, omnibus programs present too tempting a target, too easily destroyed by a single attack, to make it through a fight.... It is through incremental change after change, step after step, that a statesman of today can vindicate a bold vision.

(Howard Dean) is proving that the Internet is a better, cheaper, and faster way to raise money than the old glad-handing of special interests and fat cat donors. He's also about to demonstrate that the Internet is a better place to spend campaign dollars than are TV stations and media time buys. The fact that Internet communications is free makes one-on-one retail politics more effective, more rapid, and less costly than mass communication.

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.

Presidents generally do what they are good at in their first four years, then spend their second term responding to the agendas imposed upon them by events.

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.