American Enterprise Institute's Director of Economic Policy Studies Kevin "Dow 36,000" Hasset believes that democracy poses a threat to the economy(emphasis mine): But being unfree may be an economic advantage. Dictatorships are not hamstrung by the preferences of voters for, say, a pervasive welfare state. So the future may look something like the 20th century in reverse. The unfree nations will grow so quickly that they will overwhelm free nations with their economic might. The unfree will see no reason to transition to democracy.

The congressional budget resolution that appears likely to be approved by the House and Senate today sets up some clear struggles between Congress and the administration. Three of the most salient such struggles ahead, from least to most significant, will be:

No sooner than a congressional budget resolution emerges from conference committee, do we get another obligatory statement from OMB Dirctor Rob Portman threatening to "veto appropriations bills that exceed our request for discretionary spending" and because the budget resolution "rel[ies] on tax increases." Portman's paranoia has him seeing tax increases where none exist; it's his own rite of passage in the Administration, at the expense of his hard-earned reputation after many years in Washington as an honest broker.

For overviews of the budget resolution compromise package announced late this morning by the House and Senate Budget Committees, see:

• Overview of the FY 2008 Budget Conference Agreement
• Conrad-Spratt Press Release on Budget Conference Agreement

As the press release indicates, "[t]he full Senate and House are each expected to pass the fiscal year 2008 budget resolution this week." Some of the key provisions in the agreement that had been amoung the most heavily negotiated include: