Americans are infuriated by their sense that Washington lives by a different set of fiscal rules than the rest of us. And nothing could help illustrate this much better than the Democratic Congress’s recent announcement that it has no intention of passing a budget. American families have budgets, American businesses have budgets, and — until now, or at least since the Nixon administration – the House of Representatives has had a budget. One sometimes wonders whether the Democrats merely enjoy taunting the voters and inviting their wrath.
With no congressional budget forthcoming, we can now safely assume that President Obama’s budget is the one that Congress will (sort of) be using. Therefore, we can now say with even greater certainty than before that the deficits run up by this Congress will surpass the cumulative deficits of the past four Congresses combined, which is extraordinary even by the usual standards of recent Democratic Congresses. And we can now say with equal certainty that President Obama’s deficit spending for his first two years will exceed President Bush’s deficit spending for his entire 8-year presidency.
President Bush was the previous record-holder for highest cumulative deficits, so President Obama will now move into first place — with at least two more years to go to really put that mark out of reach. By the time he’s done, Obama’s record may look as untouchable as a 70-68 fifth set at Wimbledon.