Avoiding the Austerity Trap

Published October 18, 2010 4:00am ET



Republicans better sign up for yoga class between now and the start of the 112th Congress. They have a difficult balancing act ahead of them, and the performance will require incredible dexterity.

On one side is the public’s reasonable expectation that the next Congress will restrain the growth of government and strive to put America’s fiscal house in order. On the other side is the public’s equally reasonable expectation that the next Congress will help improve the economy. No matter how well the Republicans do in 2010, they can expect to be repudiated in 2012 if they fail at either task (or both).

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