Clark Lindsey points out the inherent problem:

I’ve certainly always believed that NASA can get anything to fly with enough time and billions of dollars. The issue is cost-effectiveness. This vehicle, which is obsolete for the 20th century much less the 21st, is simply not going to pay off in terms of making space exploration cheaper or safer.

Ignoring its gigantic price tag for the moment, if Ares I were just one of several competing commercial rocket vehicle projects funded in a COTS type of program, I have no doubt that NASA would have been canceled it long ago just on technical grounds and missed milestones. Unfortunately, when a large project is developed internally, it becomes virtually impossible to stop, especially in a case like this where the top management is so deeply invested in it. The next administration might take another look at Ares but unfortunately the battle for Florida votes has left both candidates committed to it as a jobs program. Such is how a promising vision for space exploration finds itself hung by a boondoggle.

While I agree, I have to say that the last sentence sounds painful. And at least psychically, it is.