Happening to scroll through old news the other day, I came across this declaration from Speaker of the House Nancy Pelosi: "While President Bush continues to trumpet his so-called 'economic achievements,' the Bush Administration confirmed today that the budget deficit for 2006 will be one of the largest in our nation's history. President Bush's failed economic policies have resulted in budgets that are drastically out of balance and skyrocketing debt. Budget deficits translate into higher interest rates, which means that mortgages cost more, credit-card debt grows, and student loans cost more. … Democrats know how to restore fiscal discipline with tough policies of pay-as-you-go budgeting, no new deficit spending..."
Bush and the Republicans committed their share of fiscal sins (more on that in a moment) but what is maddening about Obama and the Democrats is their gall. Not only do they toss aside any concern about deficits without so much as a blush while taking our national debt into truly frightening territory, they also do so in the name of "responsibility." You can call a donkey a thoroughbred but that doesn't make it so. The Obama administration and the Democrats in Congress are increasing federal spending on nearly everything under the sun (except national defense) and claiming (utterly disingenuously) that tax hikes on the top 2 percent of earners will pay for it all. The rest of the nation can gorge itself while taking credit for prudence and responsibility.