Campaigning in Davenport Iowa last Wednesday, Obama confidently and with serious mien held up a 20 page green Pamphlet entitled "Blueprint for America's Future." It has already been taken apart by Romney and Ryan as a "slick" repackaging of more of the same failed policies the President pushed in his first term.

There is an Alice-in-Wonderland quality about the economic policy it outlines which, however, has not been the subject of criticism. Here is Obama in Davenport announcing his bold plan to reduce the deficit.

Obama said the good news is "I've got a plan! That will actually create jobs! That will actually reduce the deficit! That will actually create middle-class security!"

The center piece of The Plan - the 20 page pamphlet that Obama held up pridefully before the cheering audience - he claimed, "will cut the deficit by $4 trillion over the next 10 years,"

Got that?

A ten year plan to cut the deficit [sic] 4 trillion over the next ten years.

Future presidents and congressional leaders, awe struck by the power, wisdom and simpliciy of The Plan, will dutifully carry out his plan no matter what. There will be no economic crises in the coming years that will derail his plan. No conflagrations or terrorist attacks that will derail his plan. Not just next year but for 10 years. Obama whines he cant get the current congress on board with his plans but future congressional leaders will embrace and follow the plan faithfully?

This is a man who ran up deficits totaling 5 trillion in four years and we are expected to swoon over a plan that will reduce the national debt by 4 trillion in ten? Moreover, in the no-pain-no-gain reality check, guess when the pain kicks in. That's right. The cut-back in spending is phased in after he spends the US back into a robust economy. The man is looking more and more like Mad Hatter babbling dislocated aphorisms and nostrums while his Vice President is looking more and more like the Cheshire cat that vanishes except for the grin.

When it comes to 4 more years, Alice said it all. "I've had nothing yet, so I can't take more."