I was in a bad mood when I wrote that.

People getting their fundamental interests wrong is what American political life is all about.

As you may recall, Truman was extremely unpopular when he finally left Washington in 1953, thanks largely to the Korean War. Today, however, he is thought to have been a solidly good president, a 'Near Great' even, in the terminology of those surveys of historians they do every now and then.

Financial regulation is the next item on the political horizon, and it doesn't have to be the deathly dull wonk-battle that it sounds like. In fact, if the Democrats do their job, it can just as easily become a platform for addressing the greatest issues of them all.

We are watching industries crumble, Wall Street firms disappear, unemployment spike, and unprecedented government intervention. And our designated opinion leaders want to know: Is Obama up this week? Is he down? And is his leadership style more like Bill Clinton's, or Abraham Lincoln's?

What becomes fascinating is the way the culture industry doesn't deny it and doesn't try to mitigate it, but tries to sell its products as a way of liberating oneself.

Under the administration of George W. Bush, you will recall, federal spending grew pretty significantly. At the same time, the number of people directly employed by the federal government shrank. One of the factors that explained the difference was contracting.