More Health Care Write Downs

I knew that Obamacare would be a disaster for America's economy, but I must admit that I am shocked at how quickly things have worsened. The number of major companies forced to write down their projected profits due to Obamacare continues to grow:

• Boeing will take a$150 million charge
• Goodrich: $10 million charge
• Illinois Tool Works: $22 million
• Prudential Financial: $100 million
• Caterpillar: $100 million
• John Deere: $150 million

The Obamacare bill is like the anti-stimulus. All of these write-downs will translate into unemployment -- as well as reduced earnings for pensions and college funds. Obama promised hope but delivered despair. That mantra about "change" is turning into "Buddy, can you spare a dime?".

Rambo and the Comeback Congress

Check out the Washington Times' piece on how all the Democrats' predictions of doom -- on the economy and Iraq, in particular -- came to naught.

As David Lambro writes, "rarely has a minority party shown so much unity or beaten an incoming majority so soundly, or a lame-duck president shown more resilience on so many big showdown battles."

Republican Senate Leader Mitch McConnell deserves considerable credit for the GOP's strategy and unity, and for keeping the party focused despite a slew of ugly TV ads.

It was a remarkable record of achievement by a president who was all but written off by the pundits as an irrelevant chief executive in the twilight of his last term. But Mr. Bush reinvented himself as a veto-happy gunslinger who was not going to be pushed around by Congress — mounting a nonstop counteroffensive that kept the Democrats in retreat.

Based on their inability to govern, and relentless attempts to increase taxes and nationalize health care, Democrats' prospects for '08 look increasingly bleak.