(Personally, I think he's running a BIG deficit!)
Bush's Political Capital Spent, Voices in Both Parties Suggest
Poll Numbers Sag as Setbacks Mount at Home and AbroadBy Peter Baker and Jim VandeHei
Washington Post Staff Writers
Tuesday, May 31, 2005; Page A02
Two days after winning reelection last fall, President Bush declared that he had earned plenty of "political capital, and now I intend to spend it." Six months later, according to Republicans and Democrats alike, his bank account has been significantly drained.
In the past week alone, the Republican-led House defied his veto threat and passed legislation promoting stem cell research; Senate Democrats blocked confirmation, at least temporarily, of his choice for U.N. ambassador; and a rump group of GOP senators abandoned the president in his battle to win floor votes for all of his judicial nominees.
With his approval ratings in public opinion polls at the lowest level of his presidency, Bush has been stymied so far in his campaign to restructure Social Security. On the international front, violence has surged again in Iraq in recent weeks, dispelling much of the optimism generated by the purple-stained-finger elections back in January, while allies such as Egypt and Uzbekistan have complicated his campaign to spread democracy.
The series of setbacks on the domestic front could signal that the president has weakened leverage over his party, a situation that could embolden the opposition, according to analysts and politicians from both sides. Bush faces the potential of a summer of discontent when his capacity to muscle political Washington into following his lead seems to have diminished and few easy victories appear on the horizon.
(more at link above)