Washington, as the story goes, remains stuck in a budgetary stalemate between big-spending liberals who want to raise taxes and lavish money on wasteful programs, and crypto-anarchist conservatives who want to burn the entire federal government to the ground. If you believe his press clippings, President Obama has just boldly waltzed into the middle of this tug-of-war with a Nixon-goes-to-China proposal to tackle runaway entitlement spending. Bunk, says A. Barton Hinkle.
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