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The Donnybrook
Tuesday, July 29, 2008
 
Welcome to the White House, You'll Be Staying in the Red Room...

The next President will have no budgeting joys. Tight budgets cause painful political compromises. Either candidate will be disappointed at the extent of the fiscal influence on their political agendas.
This year's deficit is not the worst since WWII, but it's up there. (As Slate notes....."the Bush White House can at least claim that Ronald Reagan and George H.W. Bush had larger deficits.") Campaign rhetoric will not cut it when you have to attach actual dollars to policies. Either candidate will have to trim expectations significantly without even having addressed the looming fiscal realities. At best, neither will make it any worse. That, realistically, is all we can hope for.



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