Ideology, party discipline and irresponsibility have been the drivers of fiscal policy. Tax cuts—anywhere, anytime—have been the Republican creed, enforced by iron-fisted leadership in Congress; meanwhile nonchalance about deficits has allowed spending to soar. In the past few months all three drivers have sputtered. Conservative Republicans are now shouting about spending restraint. Moderate Republicans are nervous about more tax cuts for the rich, And tumbling poll ratings have broken party discipline.
展开▼
