CHRISTMAS IN JANUARY: “Washington has become one huge party this week—you can’t catch a cab, and don’t even think about bringing your car downtown. In the spirit of the celebration, Congress will soon pass an $825 billion package that funds museums and waterslides and does little for the businesses that make the economy work. I cannot pretend I’m not enjoying the crowds or the debauchery, but I already fear the hangover.”

The party is Obama’s, but I’m guessing the hangover will be Bush’s fault.

UPDATE: Video.