Now we're back to normal

Barack Obama is still a true Democrat, whatever good qualities he may have. He's promising bailouts for the mortgage crisis, a technique which punishes the frugal and rewards those who lend and borrow recklessly. He attacked individual responsibility, condemning the "you're on your own" society. For him, the problem with the Bush administration is that it doesn't spend enough money. It isn't clear whether he intends to finance his bailout, coming on top of gigantic government deficits, with a massive tax increase or by further increasing the deficit.

Still, unlike Clinton, he hasn't declared he's going to install himself as "commander in chief of the economy" the day he steps into office.