Good or Bad?

In what is yet another example of Reaganesque behavior, President Obama is rallying to bring back the line item veto. I doubt he has a chance of getting it but at least he is making an effort. This is part of his overall strategy, through his bipartisan commission of lawmakers and economic experts, to produce a plan to reduce red ink.

Of course, this blows a hole in the Cult's theory that Obama is rampaging spender. In reality, it's Congress that is the rampaging spender and controls the power of the purse strings. Fisk any DC or politico web sites and you will hear rumbling of nerves on Capitol Hill. What will he want to cut? Will it be my shit?

That's basically the problem and it's an across-the-board red and blue issue. No one wants their little piece of the pie to be taken away. At this point, we really don't have a choice. We do have to cut spending to reduce our debt. While I don't think we are going to end up like Greece, we do need to be on more solid economic ground.

I'm predicting a showdown between Congress and Obama after the election. I think it's going to surprise a lot of people and I can't wait.