He deserves to be impeached. In my opinion, he deserves to be impeached, convicted, and hung, but I have a pretty dim view of the President.
Impeaching Bush would be a waste of resources over the next 18 months. Every investigator, every congressperson, every Democrat should be focused on gutting what is left of the Republican Revolution.
You see Bush is burnt flesh. He has been essentially neutered by the midterms and while he'll continue to govern like an idiot, we can force some behaviors since we now control the purse strings. Politically, Democrats gain nothing except the sweet taste of payback by impeaching Bush. A tasty treat no doubt, but insubstantial and over the long run not very productive.
The Republicans left in the House and Senate should be our top priority. Sure, Bush excuted the disaster in Iraq, but the I guarantee that we can put another 15 Republicans out to pasture in 2008 if we investigate everything related to BushCO. We need to get a couple of corruption convictions, maybe expose a couple more pedophiles and wife beaters. Democrats must use their investigative powers to take out as many Repugs as we can before March 2008. Bush is done and while I would celebrate his impeachment, Democrats have other priorities for the country and the party.
To me this is a resource issue. There is so much to investigate and so little time. Bush is out in 26 months. He's done and a political leper. Keep him around so he can keep infecting other Repugs. If we pursue impeachment, we actually risk rallying the Republican storm troopers. If we pick off the Repugs one by one, they will not hang together, they will hang apart and we can make further gains in 2008. Further, Bush ends up as the killer of the Republican Revolution as he finishes out his term while the Republican Party is strangled one by one.
I know this isn't a sexy strategy or one that will look good on the nightly news, but I think we gain the most by tackling the Repugs that are still standing.
If you want think about this in terms of political jiu jitsu, we shot a double leg on Bush and just put him on the pavement with a high elevation slam. We broke his head with the impact and he is running around in circles trying to remember his name. We can either try to finish him or turn our attention to his enablers. They are ready to fight, but after seeing what we did to Bush and his Brain they aren't sure they want to engage. This is the best time to pound them out. When they are frozen and fearful for their own safety you take them down, sit on their chest, and put a hurting on them. When they turn over to escape the beating, you slide in a rear naked choke and take 'em out for good.