In sum, the Democratic Party has thrown overboard decades of tax ideology (“soak the rich”) and succumbed to the Republicans’ insistence that Keynesian spending must end and fiscal discipline must commence.
The White House has lost control of the fiscal debate and of its own party. (“The White House has condemned efforts to attach additional measures to the debt-ceiling issue. Press secretary Jay Carney has called it ‘a dangerous, risky idea to hold hostage . . . a vote on raising the debt ceiling to any other piece of legislation.’ ”) Now, the White House grudgingly accepts the prospect of spending conditions. I suppose this is, as they say, leading from behind.