Aside from Krauthammer and the small group of deficit hawks, the rest of the Republican Party is marching in lockstep behind a stimulus plan that puts America deeper in debt than the stimulus scheme devised by Nancy Pelosi in 2009.
All the president had to do was wave tax cuts in front of Republican leaders and, like Pavlov’s dogs, they began to drool. Once the salivating stops, America will be $1 trillion deeper in debt to China and our growing list of creditors.
By now no one should be surprised by the Republican Party’s dementia when dealing with the debt. After all, this is the same party who campaigned on fiscal restraint before turning a a $155 billion surplus and turned it into a $1 trillion dollar deficit…
Instead of borrowing another trillion dollars from China, Washington’s reckless leaders could have offset Obama’s second stimulus plan with longterm budget cuts. That would have sent a message to markets around the world that like Germany and Britain, the United States is ready to get its financial house in order.