The WSJ calls this moment in American political history, "The Liberal Hour."

After giving Obama props for lifting the mood of the country, the journal looks at his domestic agenda... and blanches.

Money Q:

Mr. Obama is more popular than his policies, and sooner or later the twain shall meet. For now, we are living in another era of unchecked liberal government. The reckoning will come when Americans discover how much it costs.

Some Americans already get it. Hundreds of thousands of them have attended Tea Party protests. More either will, or will be influenced by them and eventually they will vote accordingly. But not before trillions of dollars are wasted and a generation of younger Americans are strapped with a debt that they will find hard to pay down.