Republicans Fall Into Dems' Same Old Deficit Trap

Recently liberals defined fiscal chutzpah by arguing high federal debt precluded tax cuts. This amazing new debt concern conveniently overlooks Barack Obama's culpability in the calamity they now belatedly bemoan. It also implicitly sets a fiscal trap where liberals keep increasing spending and debt and conservatives can never cut taxes. The Obama administration's former Council of Economic Advisers chairman, Jason Furman, argued in the Wall Street Journal on October 1 that the 1981 and 2001 model of tax cuts makes no sense in today's fiscal environment. His central argument is that un-offset cuts would balloon the debt. Furman likens cutting