[Sopater]

I would argue that deficits will turn to surpluses DESPITE the very best efforts of the Obama administration to saddle the US with unmanageable debts forever. Deficits will turn to surpluses because of the fracking revolution.

But what’s in play is not just a shrunken deficit—but the possibility that the deficit will be eliminated altogether in 2-3 short years. That’s huge.

However, I expect that 0bama will take full credit.

Thanks for the education.

[ckilmer]

However, I expect that 0bama will take full credit.

.............
Agree. Clinton did the same with Gingrich in the 90’s. He fought Newt tooth and nail and totally ruined Newt’s reputation and then took credit for Newt’s work that restrained government spending while the economy grew the government out of debt. Same thing is in play this time.