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Gekko Balances the Budget

part company in the future—but, as we said, backloading the spending cuts is historically a high-risk strategy. Under the House budget plan, 62 per cent of the deficit reduction occurs in 2001 and 2002, or two presidential elections from now. Are we really supposed to believe that in 2002 Congress will have a sudden burst of the fiscal fortitude that Gingrich and Kasich lack today?

About the Author

Benjamin Zycher

Benjamin Zycher is a senior fellow at the American Enterprise Institute.

Gekko Balances the Budget

part company in the future—but, as we said, backloading the spending cuts is historically a high-risk strategy. Under the House budget plan, 62 per cent of the deficit reduction occurs in 2001 and 2002, or two presidential elections from now. Are we really supposed to believe that in 2002 Congress will have a sudden burst of the fiscal fortitude that Gingrich and Kasich lack today?