The Washington Post ran an editorial yesterday on how bad the Bush deficit is, and how quickly it's getting worse. I linked it at the bottom.
Upshot: we're headed toward 10 year deficits in excess of $5 trillion dollars. Maybe more.
NOTE TO DEMOCRATS: Bush has handed you the opportunity of a lifetime to re-make the Democratic Party as the party of fiscal responsibility and tax system sobriety. Yes, that's boring compared to your current identity as the party of banging interns, but it wins elections. And if you win enough elections (and if you govern well enough), you can still bang interns and get away with it. Have a chat with Bill Clinton about this. He'll fill you in.
In any event, here's a plan: Step #1: Unite against Bush's tax cuts, and defeat them with help from moderate Republicans. Given how inexcusable Bush's proposals are (with the country running massive deficits and one step away from war) that should be fairly easy. Step #2: Propose a growth budget, and pass it with help from moderate Republicans. Step #3: Unite around a Democratic presidential candidate ASAP, form a shadow government (yes, complete with shadow cabinet members!) and show Americans how much better you would govern than the current bunch of Mayberry Machiavellis.
Or, do nothing and continue to lose.
Digging the Deficit Hole