Where have all the fiscal conservatives gone?

I find myself pondering that question—yet again—after reading the news that President George W. Bush will leave his successor a record $482 billion budget deficit for fiscal year 2009.

That’s another “yet again.” Since taking office, Bush has presided over expanded government spending to the extent that the national debt has just about doubled in his eight years and the top five budget deficit years all happened under his watch.

Bush is not solely to blame, of course. He had the help of Congress.

It’...

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