In a March 28 entry on The World Newser, the weblog of ABC News' World News Tonight, ABC News chief Washington correspondent George Stephanopoulos wrote, “It's hard to imagine a man more qualified for the job” of White House chief of staff than newly appointed Joshua B. Bolten, who is “as nice and smart a man as you'll ever meet.” Stephanopoulos added that Bolten has a “playful side (expect to hear more about Harley Davidsons and Bo Derek!).” But Bolten's taste in motorcycles and his ties to Derek notwithstanding, Stephanopoulos overlooked Bolten's three-year tenure as director of the Office of Management and Budget (OMB) entirely, which has been marked by record deficit spending.

Since taking over as OMB director in June 2003, Bolten has overseen the production of the fiscal year 2005, 2006, and 2007 budgets. By the White House's own projections, these budgets will result in three of the five largest deficits in United States history. (The other two were the 2003 and 2004 budget deficits.) The 2005 deficit was $318 billion -- the fifth-largest ever. The White House projects the deficit will balloon to a record $423 billion for 2006 before falling to an estimated $354 billion in 2007 -- still the third-largest deficit ever.

From Stephanopoulos's March 28 entry on The World Newser:

You've got to give this White House credit for being able to keep secrets . A decision that's been in the works for days, weeks -- maybe even months (I first heard that Josh Bolten was sounding out possible deputies for jobs in the WH last Fall) -- never leaked, and the President got to announce [READ] [WATCH] that Andy Card was stepping down and Bolten stepping in pretty much on his terms today.

But this is more WH shift than shake-up. It's hard to imagine a man more qualified for the job of WH Chief of Staff than Josh Bolten. He grew up in Washington, started out at the Reagan State Department and followed that up with work in the first Bush White House, the Senate, and a stint at Goldman Sachs in London. He's about as nice and smart a man as you'll ever meet, with strong support on the WH staff and Capitol Hill, and he's got a playful side (expect to hear more about Harley Davidsons and Bo Derek!). Most important perhaps to the President, he's been with W from the very beginning of his Presidential campaign.

Which may be why the most qualified man for the job may not come off to the President's critics as the best man for the job right now. Bolten was brought in to spell an exhausted (and more effective than he's getting credit for) Andy Card -- not to signal a shift in direction.

In fact, the most telling moment of the day -- and one of the most telling of the second term -- was the Rose Garden ceremony after the Bolten announcement this morning. The President lined up the whole Cabinet to talk about Iraq. With that photo op, the President said more clearly than ever what he -- and we -- already know: Bush has bet his Presidency on Iraq. As Iraq goes, so goes the second term. Even the best qualified staff chief in the world can't change that.