Mr. McCain is almost as scathing about his own party’s behavior in power as he is about Congress’s current leaders. Of the Republican congressional majority that was voted out in 2006, he says: “We let spending get out of control. . . . And we would have won the 2006 elections if we had restrained spending. Our base didn’t desert us because of the war in Iraq. Our base deserted us because of the Bridge to Nowhere. I’ll take you to a town hall tomorrow and I’ll say ‘Bridge to Nowhere’ and everyone in that room will know what I’m talking about. That bridge is more famous than the Brooklyn Bridge.”

That version of the events of November 2006 is not universally shared, even within the GOP, but it does serve Mr. McCain’s interests pretty well. He has been one of the most prominent and unapologetic supporters of the war in Iraq, even though he at times disagreed with the administration about tactics and strategy.

And he voted against the Bush tax cuts–even though he admits that they helped the economy in the midst of a recession. “We all know that [they helped]. Without a doubt. Without the slightest doubt. Absolutely.”

Even so, he defends his opposition to them on the grounds, he told us, that Congress couldn’t get spending under control. “I opposed the tax cuts because there was no spending restraint. . . . If we’d enacted spending restraints, we’d be talking about more tax cuts today. And to the everlasting shame and embarrassment of the Republican Party and this administration, we went on a spending spree and we didn’t pay for it. . . . And every time I called over to the White House and said, look, you’ve got to veto these bills, the answer was, ‘We’ll lose the majority, we’ll lose this election, we’ll lose the speaker.’ Well, you know what happened.”

The words “I told you so” don’t quite pass his lips, but his sense of vindication is plain enough.

As for the tax cuts themselves, he now pledges that he would fight to make them permanent. “I will not agree to any tax increase,” he says. And then once more for emphasis: “I will not agree to any tax increase.”

The Opinion Journal

Fiscal issues are my number one priority when I vote in next month’s primary. McCain just scored a 100%. In my opinion, the spending and the national debt are the biggest threat facing the country right now, not Islamic terrorism, not to downplay that as a problem, but our debt is being financed by countries like China and our currency is steadily devaluing. Congress is mortgaging our future to satisfy their own greed for power. We’re going to be in a lot of trouble if this isn’t reigned in.

Fred Thompson picked up a major endorsement that will give even more momentum to his campaign in Iowa. Iowa Congressman Steve King has decided to endorse Thompson and plans to tour the state with Fred during his “Clear Conservative Choice: Hands Down! Bus Tour.”

” Congressman King’s leadership in support of the sanctity of life and his efforts in the fight against illegal immigration have made him one of Iowa’s great Republican leaders. He’s a tireless fighter for the 5th district of Iowa and I’m honored by his support. I look forward to working with Congressman King over the next three weeks and into 2008 in support of the traditional conservative values he and I share.”

Michelle Malkin has more on the endorsement

In 2004, on the day John Kerry accepted the Democratic presidential nomination, the Boston senator raised $5.7 million on the Internet, the biggest online fundraising day on record.

Yesterday, Ron Paul, the Republican congressman whose rock star status on the Internet has singlehandedly fueled his campaign, broke that record, raising nearly $6 million in 24 hours.

On Nov. 5, which was Guy Fawkes Day, a symbol of rebellion in British history, Paul hauled in $4.3 million in 24 hours. And yesterday, the 234th anniversary of the Boston Tea Party, the day that helped spark the American Revolution, Paul’s Web-savvy, intensely loyal supporters completed another “money-bomb,” raising nearly $6 million from more than 50,000 donors, half of whom were new donors. With 14 days left in the fourth quarter, the Texas Republican has amassed more than $17.5 million.

The Trail

The money just keeps flowing in. I know Paul is not likely to win the nomination, but I am anxious to see how he does in the primaries. A couple of states have him in double digits which I think is impressive considering he was barely a blip on the radar when this whole thing started.