Alexander Pope died a few decades before the American Revolution, but his observations on vice aptly describe modern Americans’ attitudes toward Washington overspending during the past three decades. “We first endure, then pity, then embrace.”
Today’s unabashed embrace of overspending now encompasses both political parties.
President Trump originally campaigned on a promise to wipe out deficits in eight years. Instead, he pushed tax cuts and increased spending, and both deficits and the national debt ballooned. Republican complicity, along with year after year of low interest rates, seemed to signal a turning point.