Wow, Republicans must be really worried that the Ryan budget essentially handed President Obama a huge campaign weapon to use against them. Their reaction to the President’s budget speech is utterly off the wall. A sampling: the Wall Street Journal called the speech “toxic” and “divisive”; Charles Krauthammer called it “a disgrace“; Karl Rove described “President Obama’s wild rhetorical gyrations” and then predicted the budget debate will help Republicans, which is Rovian for “OMG we’ve got to bury this in mud before anybody sees it.”

There’s enough hysteria and hyperbole coming out of the Wall Street Journal alone to re-float the Titanic. What’s coming from Fox News and Rush Limbaugh could keep the space shuttle program going ten more years and possibly fuel a manned Mars landing. This is terror, people. The Powers That Be on the Right must have suddenly realized they really did overplay their hand and possibly gave away the 2012 election.

David Frum, while still insanely advocating lower tax rates for everybody, acknowledges that the Ryan proposals are probably unsalable to the public and were a huge gift to President Obama.

“Whatever you do, don’t serve to his backhand.”

“Don’t be nervous. I have the new Ryan serve. It’s bold!”

“Trust me on this. Don’t serve to his backhand.”

Thomp. Wham.

And on top of everything else, the CBO says the recent budget deal only cuts this year’s deficit by $352 million, not $38 billion. To clarify, the deal does cut billions from the budget deficit, but much of the cuts won’t be apparent this year. For example, money appropriated for water-and-sewer grants probably wouldn’t have been spent this year anyway, so cutting it from the budget won’t make a difference this year. (See Steve M and Zandar.)

Now the baggers are screaming hysterically that Republicans had better not approve that budget. However, I’m betting the baggers will be ignored, because the GOP will want to change the subject from budgets. Watch them go all out against some liberal interest group next week as a distraction.

Update: Nice analysis of the President’s speech.