On Tuesday, former VP candidate Rep. Paul Ryan (R-Wis.) announced that Republicans and Democrats had reached a deal on the budget. The deal involved rolling back the sequester cuts and increasing the deficit back up to over a trillion dollars. The last budget battle resulted in the partial government shutdown in October for which Republicans were blamed for barricades being put around the WWII Memorial and other monuments on the Washington Mall.
GOP leadership wishes to avoid the next two budget battles before the 2014 mid-terms. TEA Party conservatives argue that these continued trillion dollar a year increases to the federal debt will lead to a financial collapse that will make Greece look like Utopia. Since the first $1.4 trillion budget deficit he signed after his inauguration, President Obama's Congress has spent an average of $1.1 trillion a year without filing a legal budget.
Newt Gingrich calls this deal dishonest, declaring that GOP leadership is too weak to fight Obama and always surrender to his abuses of the Constitution claiming they will stop him "next time." Democrats argue that taxes must be increased by a trillion dollars a year to cover the shortfall, especially for ObamaCare funding whose mandates were supposed to help raise hundreds of billions in new tax revenue, but these have been postponed for a year due to the rollout fiasco. Meanwhile, Rush Limbaugh argued that most of the deficit, $85 billion a month, is being poured into Wall Street to artificially bolster the economy that he says has been devastated by Obama's policies. Limbaugh declares that, should Republicans regain power and do away with this “quantitative easing” the economy would collapse and Democrats would blame Republicans.
Congress, under Democrat control, has increased the national debt every year since Eisenhower was president, with the exception of four years in the 90s when Republicans held Congress and balanced the budget under Newt Gingrich. Since retaking full control of Congress in 2007, and projecting to the end of Obama's second term, Obama and the Democrats are expected to add twelve trillion dollars to the national debt. In his 2008 campaign Obama excoriated President Bush as “unpatriotic” for increasing the debt by $4 trillion during his eight year tenure.