Can a trillion-dollar windfall really be a problem? For nearly two decades, the U.S. wrestled with huge budget deficits that burdened the economy. But now that Washington projects a $1 trillion budget surplus over the next 10 years, the delightful news has mainly become a cause for pitched partisan wrangling.
Or so it would seem from the shrieking produced last week as the Republican-run House rammed through a measure to chop taxes by $792 billion over the next decade. President Clinton called that irresponsible behavior, fiscally speaking, and espoused a much smaller, $250 billion tax cut. Then he angrily vowed to...
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