Ross deduces the logic of Obama's budget:
Give them tax cuts today, conservatives said, and they'll swallow spending cuts tomorrow; give them universal health care, universal pre-K, subsidies for green industry and all the rest of it today, liberals seem to be thinking, and they'll be willing to pay for it tomorrow.
The more I think about it, the clearer it seems that the Obama budget was, at bottom, a statement of future political priorities. And if they get anything like the recovery Bernanke is hoping for, it could work - politically, that is.
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