Locking in the next president

From The Hill:

Congressional budget writers are already starting to worry that the massive federal government bailout of Wall Street could have drastic repercussions on how the government spends money next year and beyond, regardless of the make-up of either end of Pennsylvania Avenue.

Rep. Jim Cooper (Tenn.), a senior Democrat on the House Budget Committee, as well as a former investment banker, stressed that the moves by the federal government to prop up the financial markets are positive and necessary. Still, the investments — just because of the sheer dollar amounts involved — could freeze Congress’s ability to spend money on a host of things well into next year and beyond, he added.

“This cripples the domestic policy priorities of the next president, whoever it is, because it soaks up so much cash,” said Cooper, a senior Democrat on the House Budget Committee and a former investment banker. “In the long term, it is good news because it will encourage better behavior from everyone.”

So, don't count on any health care reforms or anything else under Obama. Of course, we already knew we wouldn't get any under McCain.

Frankly, I think that's only the tip of the iceberg that will freeze our economy for years to come.