To the displeasure of many on both sides of aisle, President Obama on today is hosting the so-called Fiscal Responsibility Summit at the White House. While some Democrats question the timing of Obama's expenditure of political capital on Social Security, Medicare and other entitlement reform, obstructionist Republicans are ridiculing the event even as they hype the myth of Republican fiscal discipline.
And a myth it surely is. Far from the deficit hawks of Republican legend, the modern Republican Party from Reagan forward devastated the U.S. treasury, leaving mounting debt and hemorrhaging red ink for as far as the eye can see.
... more on Crooks and Liars after the click.
My comment: Oh, yeah ... Reagan proved that deficits don't matter. That's another of those "facts" you have to accept on faith if you want to be a right winger ... because actual facts seem to have a Librul bias.