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Economics

Skyrocketing Deficit? So What, Says New Washington Consensus

  • Many Democrats ask: If Trump can pile on debt, why can’t we?
  • Still-cautious party leaders are among DC’s last fiscal hawks
Stacks of U.S. $100 bills are arranged for a photograph in New York, U.S., on Thursday, Feb. 7, 2013.
Stacks of U.S. $100 bills are arranged for a photograph in New York, U.S., on Thursday, Feb. 7, 2013.Photographer: Scott Eells

With its plaintive call for balanced budgets, the fiscal hawk once pervaded Washington. But it’s getting harder to spot one.

That’s because of President Donald Trump, and the equal-and-opposite reaction he’s provoked on the U.S. left.