Tuesday | February 04, 2003
'Borrow and Spend' Republicans
Can there be any doubt that party roles have taken a 180 degree turn since the Clinton presidency? Once the party of fiscal discipline, the GOP is now the party of borrow and spend -- turning Clinton's record surpluses into record deficits in a short 2-year span.
And all the Dems have to do is reach back into the GOP's bag of rhetorical tricks, circa 80's and early 90s, and wield them as new weapons against Bush's War on the Economy.
To recap, in two short years we went from a projected $5.6 trillion surplus over the next 10 years, to $1.08 trillion in deficits over the next five years alone. The Bush Administration refuses to do 10-year outlooks, as they would have to take into consideration the balance of last year's tax cuts (phased in over 10 years). Those numbers, I presume, probably look hideous.
To the GOP, deficit reduction is a weapon wielded only against Democratic presidents. To the Democrats, deficit reduction has become established orthodoxy (perhaps the most important victory of the party's DLC wing).
The proof? Massive deficits and ballooning national debt under Reagan, Bush I and Bush II. Massive surpluses and shrinking national debt under Clinton.
I rest my case.Posted February 04, 2003 08:02 AM | Comments (117)