Seven reasons for healthy skepticism on Obama's chances

The most bipartisan tradition in Washington is to laud bipartisanship, even while lamenting that there is not enough of it.

But the instinct for bipartisanship overlooks an inconvenient fact: Some of Washington's biggest blunders occur when the government moves to do big things with big support. Bush won the much-regretted Iraq war resolution of October 2002 with strong Democratic backing.

The current economic crisis produces similar pressure to get on board the train — never mind for sure where it's going.

It is easy to sympathize with the temptation. Top officials on Obama's team told us in recent days that things are much worse than most people appreciate. The Obama staff and top lawmakers are getting stern warnings that the banking system in particular is extremely fragile and could collapse. So they are moving with amazing speed to pump money into the economy.

First up is the stimulus package that could top $900 billion. It is a mind-numbing number rarely contemplated in U.S. history — and yet it might not work. There are no guarantees people will spend money the government doles out or that it will be enough to offset miserable economic performance elsewhere.

The history isn't encouraging.