Obama's Wonderful Disaster

Economics troubles may mean he won't have to pay for his spending programs.

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Portfolio's Matt Cooper suggests that Barack Obama wouldn't raise taxes if elected because no one cares about the deficit right now. (Other than raising, of course, income tax rates on rich folks.) What they care about is avoiding a depression. About that, I will say this: Our economics troubles do provide all the excuse in the world to justify any and all spending increases by calling them stimulus. The fallout from the credit catastrpophe is really a blessing for a future Obama administration since it helps it avoid making any hard choices.  Of course, it also kind of chucks away the party's hard earned reputation a deficit fighters (though much of that was from slashing defense spending -- as Obama may also do). So long, Clintonomics!

Obama, Barack
deficit and national debt

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