It is undisputed that the GOP weaponizes the deficit when they lose elections and ignores it when they win. Neither they nor the country has paid the price for their irresponsibility to date; interest rates remain low, and the economy is roaring. It then follows, according to the left, that the Democrats should stop trying to be adults about the deficit, and should simply let it rip. In particular, Obama’s flirtation with a grand bargain was a mistake which should not be repeated when the Democrats regain power.
Are they right? No. There is no guarantee that interest rates will remain low forever. In addition, the financial problems with our entitlement programs haven’t gone away, and will have to be dealt with in the foreseeable future. If not, the default alternative is a huge battle over how to fix the holes in the system with a deadline looming. That serves neither party’s best interests.