CHARLES KRAUTHAMMER: Obama’s Louis XV Budget.

A more cynical budget is hard to imagine. This one ignores the looming debt crisis, shifts all responsibility for serious budget-cutting to the Republicans – for which Democrats are ready with a two-year, full-artillery demagogic assault – and sets Obama up perfectly for reelection in 2012.

Obama fancies his happy talk, debt-denial optimism to be Reaganesque. It’s more Louis XV. Reagan begat a quarter-century of prosperity; Louis, the deluge.

Moreover, unlike Obama, Louis had the decency to admit he was forfeiting the future. He never pretended to be winning it.

Whether it’s a win depends on what you’re trying to accomplish.

UPDATE: Reader Mark Fitzgerald writes:

In Wisconsin we couldn’t have a better sample of what that full-artillery demagogic assault will look like: Public sector unions, MoveOn and Organizing for America rushing the breach, DNC and legacy media providing tactical support and Obama behind the lines, pretending to be above it all but deeply involved in every aspect of the attack…

Ohio and Indiana are the next fronts…

I don’t think it’s going to work very well for them. The secret to lefty success has always been concealing what they’re really about. This is revealing it.