Well, that didn’t last long. I wrote the previous post, “A Brief Outbreak of Irrational Optimism,” for the Washington Examiner two days ago expressing hope that the new Congress might make real progress on the budget. Crazy, huh? Don’t worry, there’s no need to call the doctor. I’m back to normal now. Reality crushed my flirtation with optimism almost immediately. I raised three reasons for hope. I have been disabused of two already and have dwindling expectations for the third.
About that $100 billion in cuts. Before the election, the House Republican leadership vowed to deliver $100 billion in spending cuts, re-setting the discretionary domestic budget to pre-TARP, pre-Stimulus levels. Now, with the GOP taking control of Congress today, we’re not so sure. Reports the New York Times:
