DAN MITCHELL: Happy Fiscal New Year (with an Unhappy Obama Hangover). “Today, October 1, is the first day of the 2012 fiscal year. And if you’re wondering why America’s economy seems to have a hangover (this cartoon is a perfect illustration), it’s because politicians had a huge party with our money in FY2011.”

UPDATE: A devious and unprincipled suggestion from a reader: “To guarantee that the economy does not pick up, the GOP Congress should pass Obama’s tax hikes, etc.” That would be evil.