Spending like a hooker with a stolen credit card

New York Times: The New Republicans

"The two halves of Republican policy no longer fit together. A political majority that believes in big government for people, and little or no government for corporations, has produced an unsustainable fiscal policy that combines spending on social programs with pork and tax cuts for the rich. Massive budget deficits have been the inevitable result. Something similar happened in the Reagan administration. But unlike Ronald Reagan, Mr. Bush has given no hint of a midcourse adjustment to repair revenue flow. In fact, his Congressional leaders talk of still more tax cuts next year to extend the $1.7 trillion already enacted. That would compound deficits, which could reach $5 trillion in the decade..."