What is All Hat And No Cattle?
A slang phrase from the Southwestern United States, indicating a person is more image or projection than actual substance.
It is probably derived from the region's contempt for people who are not cowboys or ranchers but who try to mimic the frontiersman image through superficial adoption of the region's folkways.
President Bush's new tax plan is supposed to help the struggling middle class and revitalize the stock market. However, closer analysis reveals that he's just all hat and no cattle.