Commentary: Can the Democrats Profit from the Return of Deficits?

Once upon a time, Republicans were the dour guardians of budget discipline. Democrats rooted blissfully at the federal trough while they hummed Happy Days Are Here Again. But where are those happy profligates of yesteryear? Intent on indicting Bushonomics for the return of budget deficits, they're marching toward Election '02 as staid and sober as a pack of actuaries. The party's new theme: Stormy Weather.

That will be a tough stance to maintain in light of the latest gross domestic product report, which shows that the economy has shaken off the slump. Indeed, in his Jan. 29 State of the Union address, President Bush described the return of the red ink as a "small and short-term" problem. Democrats gave him a respectful hearing, as befits a leader boasting an 84% approval rating. But the gloves will come off on Feb. 4 when the White House unveils a 2003 budget with a $100 billion shortfall.