VICTORY. After four decades of Republican agitation, the budget will finally be balanced. When deficits were small, Republicans fought to end the trickle of red ink. When we needed deficits to stimulate our economy, Republicans mistakenly worshiped at the balanced-budget altar. When Republican tax cuts and defense-spending increases drove the deficit higher, hypocrisy did not deter them from mouthing continued piety to the cause of ending deficits. Finally, when it became evident that only through deficit reduction could our economy survive, the GOP sacrificed its President to pursue the holy grail. After a brief fling with irresponsibility in opposing the 1993 deficit-reduction plan awarded them control of Congress in 1994, the Republican Party once again led the charge to balance the budget.
And now the deed is done. With a tax reduction, too! Achieved not by the hellfire of shutdowns or overrides, but through quiet, patient, reasonable negotiation. Like Japan seeking domination of Asia, the Republican Party learned that what it could not achieve by war, it could win through reason in peace.
Comments