But isn't the federalization of pretty much everything in a diverse country like the U.S. just another exercise in imperial overstretch?

WSJ: Henninger: Obama's Colossal Politics

For now, just consider it an interesting engineering exercise, somewhat like cramming what amounts to a small notebook computer into the case of the iPhone 5.

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"My fear is that, not just in Northern Ireland but throughout the United Kingdom, the measure will be more like a branding exercise and good for a soundbite, rather than something that will have any real impact, " he told MPs.

BBC: Budget 2011: Tyrie backs public spending cuts

Remember, the exercise then, as now, was to build a portfolio with an allocation that looked just like Vanguard Target Retirement Income (VTNIX), but using better funds.

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