When done right - or wrong, depending on how you look at it - deficits remove liberal options from the table. Suddenly there's no money for building bridges or inspecting meat. Not surprisingly, running up a deficit is a strategy favored by the wrecking crew for its liberal-killing properties.

The great fear that hung over the business community in the 1970s was death by regulation, and the great goal of the conservative movement, as it rose to triumph in the 1980s, was to remove that threat - to keep OSHA, the EPA, and the FTC from choking off entrepreneurship with their infernal meddling in the marketplace.

Maybe that first, gigantic deficit the Reaganites piled up was an accident, just a combination of deluded 'supply side' tax cuts and a huge bag of good stuff for the Pentagon. But pretty quickly conservatives discovered that deficits, when done correctly, did something really cool: deficits defunded the Left.

Thomas Frank Quotes