After casting about for a new identity in the wake of the tanking financial markets, John McCain seems to have hit on a role he plans on sticking with, for a few days at least: magical thinker. Even as the darkening clouds are making many wonder about the very solvency of the government itself, the Arizona senator told the New York Times and CNBC today that he was going ahead with his tax cut plans. “Contrary to the warnings of fiscal analysts, he said he believed he could do so and balance the federal budget, which was falling deeper into deficit even before the financial crisis, by the end of his first term,” said the Times. 

Analysts! Analyze this, baby. In McCain’s world view there are a limited number of forces that really matter: The Surge, of course, the doubling-down of troops in Iraq that he alone championed last year, and that now promises to allow us to stay there long after anyone dreamed we would need to; and congressional earmarks, which are little bits of secret spending that senators and representatives attach to otherwise decent bills in order to get their constituents more of your money. 

The fact that your money is their money — that you are, in essence, them — should not confuse you. It doesn’t confuse McCain! He stood there while some Vietnamese guard drew a cross in the dirt and totally got what the guy was trying to say because JMC, not that egghead Obama with his longterm solutions, is more than a man of action. He is an action painter. You know, like Jackson Pollock. His coherency is in his movement and today he is a tax-cutting guy who also wants to balance the budget and hold Wall Street greedheads accountable for destroying your 401-K. Contradictions? Contradictions are for squares. 

In the crazy mixed-up world we have inherited this political season, this kind of whirling dervish routine might just carry him over the finish line if it weren’t for the party that he is tied to. Sure, he stirred up the base with his choice of Sarah Palin (who is in NY, meeting a dozen world leaders, AND Bono, all in one day — talk about action!) but those people bring the votes, not the bread. The moneybags in the Republican Party really don’t want to hear him do his Huey Long impression. While he and his rival are both skeptical of the government’s proposal to give the Treasury Secretary a blank check, and no one to answer to, Obama sounds more prudent and determined to help craft the right compromise to get us out of this mess and keep the ship of state afloat. McCain’s tossing paint, man — and the red ink might just fall on us.