"This enduring Republican low-tax fetishism has come to seem quite delusional: we've tried this scenario twice before, in the 1980s and 2000s, and both times the budget deficit exploded.
We didn't have a significant deficit problem 10 years ago. We had a budget surplus. We did have the long-term question of how to pay for the baby boomers' old-age benefits, but that was, and is, a manageable problem. The "crisis" we face was visited upon us by the very people now screaming loudest about the budget deficit: Republicans.
Indeed, Ryan has bestowed a remarkable gift upon the President: his radicalism has framed the moderate, financially prudent profile for Obama's coming campaign."