Bush's Political "Capital"

Although I think Bush wasn't the single cause for what happened last night, I think it's clear that Bush's assertion two years ago that the American people gave him political capital has been found to be fallacious.

That capital seems to have been a result of ideological junk bonds. To extend the specious economic terms even more, it's a "market correction" of sorts.

Or, in another view, if he was given political capital, it was because of Kerry's nitwitish campaign.