President Dwight Eisenhower truly believed that budgets should be balanced, and his 1960 budget incorporated severe spending restraint and only minor tax increases, Penner writes.
While the nation is focused on the shootings in Newtown, Conn., lawmakers appear to be nearing an agreement on the fiscal cliff – and may settle the matter without fight or fanfare.
Speaker John Boehner and fellow Republicans are being asked to cave on tax rates in the fiscal cliff negotiations. In return, they could be the 'bad guys' on entitlement reform – something even their own voters may not support.
Resolving the fiscal cliff this year may require Speaker John Boehner to take to the House floor a deal that a majority of Republicans will reject – a move that could risk his speakership in the next Congress, says the Democrats' Rep. Chris Van Hollen.