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Brad Delong captures it perfectly in one sentence:

“They like the deficit because it gives them an excuse to cut spending, and once they have cut spending they can then cut taxes on high income Americans, recreate the deficit, and then cut spending again.”

What do they say? “Fool me once, shame on you. Fool me…”


You also know that once there’s a (white?) Republican in the White House that all the Libertarians and Tea Baggers will quietly go back to their corners. I would love to happily be proved wrong on this point (sort of).

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