Deficit Falls to $205 Billion
Part of the reason the Left gets away with such gross distortion of fiscal facts is that people fail to understand that higher taxes does not automatically equal high government revenues. The Right has done an absolutely horrendous job building a buzz around Bush's wildly successful economic policies, and instead rely on subtle defections on the issue of Iraq to make headlines, which leaves the larger party in a precarious position going into the 2008 campaign. If the Republicans are duped into making Iraq and foreign policy the central issue of the campaign, in my opinion they will lose. Any successful Republican candidacy must embrace the economy, particularly the unprecedented success of the stock market, to convince voters that they are better off because of Republican economic priorities. As long as the Democrats are going to make healthcare the major domestic issue, which all of the major candidates seem intent on, any Republican armed with a coherent explanation of why this would be a disaster for the economy and stock market should be able to whether any disadvantage due to the war.