Yep it is. It kills me that seems like a good idea. Its not the spending that bothers me but the tax cuts do. If you are going to increase or maintain spending then you can't cut taxes. He'll get the tax cuts because the Republicans run the whole show now. I wish I could run my household budget like that.
As for being a one hit wonder.... I wouldn't be so sure. Even now the Democrats can't find a decent candiate to challenge him. They couldn't even take a crappy economy and turn that into gains in the Congress.
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