The Republicans are in Charge

And thus does the deficit soar to $427 billion. Whenever news stories dig up Fed officials, politicians, or bureaucrats who express grave concern about the deficit trend, we might imagine a group of thieves with a back up printing press worry about their spending habits. So long as they get away with it and believe they can evade the macro-consequences, their “concern” can only be affected and their will to stop it trumped by other more immediate concerns. A sign of the problem: “The new prediction is also greater than the $331 billion the administration anticipated...”