An informative and potentially productive political debate has broken out over fiscal policy. But it is not between Democrats and Republicans — the leadership on both sides of the aisle is trying hard to agree that a moderate stimulus is worth the cost: increasing the national debt by nearly $900 billion.
And the new debate is not particularly due to the president’s bipartisan deficit-reduction commission or other serious efforts to put the real math on the table; those technical discussions have so far been brushed aside.
On one hand, there are those like Newt Gingrich and Mike Huckabee, who are in favor of the tax deal currently on the table. This seems to be where most of the Republican mainstream is. On the other hand, Sarah Palin and Mitt Romney have come out strongly against the proposal.