Quotes of the day

“There are other potential pitfalls: an intra-party revolt by liberals if he ditches the public insurance option; creating unrealistic expectations at a time when many in his party would opt for quiet deal-making; and the ever-present hazard of presidential overexposure – which would permanently dilute Obama’s ability to influence national debates…

After a devastating August that saw a host of humiliating town hall demonstrations and an alarming drop-off in Obama’s personal popularity, ‘He had no choice, he had to do something,’ a senior house leadership aide told POLITICO.

‘It’s fish-or-cut-bait time.'”

“What accounts for the global electorate’s growing disgust with the political overclass? Try this: No matter the ideological cast of these governments, they all hold in common one policy: the inexorable upward march of national indebtedness. It has arrived at the edge of the cliff…

In short, the lumpen electorate works, and the lumpen bureaucratariat spends. They get away with it because they have perfected the illusion that no human hand causes these commitments. The payroll tax just happens. Entitlements are ‘off-budget,’ presumably in the hands of God. This is government without the responsibility of governance…

This is hardly a fair fight. The political overclass everywhere holds the power to print money and grab it back with taxes and inflation. Still, the election returns suggest that something is stirring. Maybe we should call it the revolt of the masses.”

“Presidents always encounter rough patches. What is unusual is how soon Mr. Obama has hit his. He has used up almost all his goodwill in less than nine months, with the hardest work still ahead. At the year’s start, Democrats were cocky. At summer’s end, concern is giving way to despair. A perfect political storm is amassing, and heading straight for Democrats.”