We yearn for the days when you could count on Democrats to be spendthrifts and Republicans to rein them in. Those days are definitely gone.

Sen. John McCain famously said in 2003 that Republicans in Congress were “spending money like a drunken sailor.” They still are. In the last 10 years — six years under President Donald Trump and four with President Joe Biden — the national deficit has ballooned from $20 trillion to $40 trillion. Republicans appear to have latched onto the "modern monetary theory," which holds that governments can print as much money as they want to fuel deficits with no downside.

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