To liberals, instead of cutting spending, the federal government should actually be boosting spending to stimulate the economy, which, in turn, will help shrink deficits over time.
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In the past week, it looks as though Democrats have migrated toward the liberal approach. On Wednesday, in an interview with ABC’s George Stephanopoulos, Obama warned against adopting a “crisis mentality” with the debt. (An argument that my column pushed back on.) And on Thursday, Democrats released a budget that actually increases spending on a net basis, a spending cuts are more than offset by undoing the sequester and adding $100 billion in new economic stimulus.
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