Why Spending Is Back in Season in Washington
America’s partisan divisions are so familiar it sometimes seems the fight never changes. But on the federal budget, the battlefield has been transformed. Four years ago, when budget deficits topped $1 trillion, congressional Republicans turned their midterm election triumph into a spending-cut crusade. After forcing an initial springtime deal with Democrats, House Speaker John Boehner negotiated with President Obama on a “grand bargain” resembling recommendations from a bipartisan deficit reduction commission. Those talks failed, leading to the first credit rating downgrade for the United States….Read More
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