The modern left has an infinite capacity to pretend. Take this: Obama now says he’ll slash the deficit by enacting strict spending restraint.  Here’s a great idea for spending restraint: Don’t spend $787 billion dollars.  How about that?  It just might work.  Why spend billions now, only to attempt spending restraint over the next 7 years, since we all know how well “spending restraint” works in Washington?   If Obama was trying to impress Wall Street, it didn’t happen (-251 points).  The deficit this year is projected to be $1.5 trillion dollars, or about 12% of GDP – unprecedented in peacetime.  But he’s only going to cut in half the $1.3 trillion “inherited” from the Bush administration.  Gee, thanks.  There’s an excellent chance our budget deficit will reach basket-case Latin American levels in no time.

What’s lost in all of this (I suppose it’s been lost for a long time now), is that the federal government has zero constitutional authority to fund 90% of the bloat in this bill.