The Democrats have taken on Paulson's plan as their own. Unlike Paul Krugman, I do not seeing any meaningful revisions being made to the plan when January rolls around. I do see Paulson trying to spend every last penny of the Treasury on his Wall Street buddies before December 31. I also forsee Obama keeping Paulson on for at least a year to "ensure continuity during the transition" (i.e., as a favor to the Wall Street firms backing Obama now so they can drain the public coffers as long as possible).
It is more than the Wall Street blow job. It is that Obama has not evinced a single sign that he wants to be a Democrat, that he believes in Democratic (or even democratic - see "FISA, voting for") principles, or that he intends to use the Oval Office for anything except running for Preznit again in 2012. His foreign policy plans, as far as there are any, seem to be focused on holding his own glorious little war with Pakistan, based out of Afghanistan. Europe is expected to go along because they have already declared him their choice for Preznit of the World.
The choice on November 4 is between two versions of Republican policy - the thoroughly odious vs. the batshit insane. Obama will always move to the right when faced with opposition, and the Village (and the Blogger Boyz) will cheer wildly, applauding his statesmanlike gravitas and his savvy positioning to set up a greater victory down the game tree. Oh, and the bipartisan unity. Can't forget that.
But what we will have from the Right is anything but unity. They will happily hand over the bankrupt and beggared nation to their opponents and spend the next four years screaming about how this is all the fault of the Democrats who over-regulated the markets while under-regulating government agencies, who have gutted the military and aren't sufficiently strong against the militant jihadism, and who are trying to force their heathenish, immoral values like gay marriage and birth control onto good upstanding citizens.
It will be culture wars layered on top of economic devastation, fought out between the economic and social philosophies of the Right, but blamed on the Left when none of it works.