“This could actually benefit the President, if the Republicans insist all or none,” says Tax Notes columnist and Pulitzer-Prize winning journalist David Cay Johnston.
There have only been 4 balanced budget years in the US over the last 50 years. It's not that deficit spending is inherently bad, it is always a question of what the spending is aimed to stimulate. The best bang for the stimulus buck does not come from artifically propping up asset prices and bank balance sheets. Intelligent stimulus has to be an investment in the real economy now that will benefit the future, ie., infastructure, education, research, innovation.
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