A quote from Today’s Note:
Note warning: do not underestimate the dramas that will unfold when the Bush budget comes out. We so far do not discern a carefully-planned-to-manage-the-pain leak strategy, but maybe it hasn’t started yet or maybe we are dumb.
An easy joke: Who says those two are mutually exclusive?
(Sorry, we saw the opportunity and couldn’t resist. We promise more hard-hitting reporting later in the day.)