A Blank Check?

Pethokoukis says the economic mess will provide Obama with political cover:

Our economics troubles do provide all the excuse in the world to justify any and all spending increases by calling them stimulus. The fallout from the credit catastrophe is really a blessing for a future Obama administration since it helps it avoid making any hard choices.  Of course, it also kind of chucks away the party's hard earned reputation a deficit fighters (though much of that was from slashing defense spending -- as Obama may also do). So long, Clintonomics!