Bush spending 'political capital' on Iraq

An AP news analysis by Tom Raum has this to say about the president's news conference yesterday:

WASHINGTON Mar 21, 2006 (AP)— President Bush says he's spending his remaining "political capital" on the war in Iraq. The trouble is, he may have little left.

With his approval ratings at a low point and no end in sight in the war, Bush is trying to replenish his assets with a direct appeal to the nation that emphasizes the positive but also concedes grim realities.

Seems like, just as with the federal budget, he has overspent his "political capital" and is rapidly running up deficits.