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Just raising the issue of the pardon was smart for the Democrats, because it puts Bush in a corner no matter what he does. The longer he doesn't send a wink to Libby about it, the more pressure is on him to roll on his co-conspirators, likely the Vice (or Assistant) President of the United States. And the longer he doesn't commit to NOT pardoning, the more sleazy they all look. And if he does pardon him, that is bad, too -- so bad that I don't think his party will support it because of its potential effect on the 2006 election. A lot of people think it was Ford's pardon of Nixon that cost him the 1976 election.
It has been a long time since Democrats really had their act together. Perhaps at last they do. Meanwhile, a lot of Republican chickens are coming home to roost. What a wonderful year it could be.