The budget he’ll formally propose this coming week is getting hammered left and right. That may indicate a willingness to compromise on his part in hopes of striking a bipartisan, middle ground deal with congressional Republicans. But it also illustrates the limits on his aspirations. (See higher taxes on the wealthy or reining in some entitlement programs, including Social Security – the “third rail” of politics.)

In his weekly address Saturday, Mr. Obama called the budget he’ll unveil Wednesday “a fiscally responsible blueprint for middle-class jobs and growth.”