A feeble offering from the president; but there are a few signs of hope
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0 Left 0 Centered 0 RightFOR years America’s politicians have delivered only pious words about the deficit. With the financial crisis and the recession now in the rear-view mirror, this year was supposed to be the time when Barack Obama and Congress would shift towards austerity. The competing budget proposals of congressional Republicans and the president do contain hints that such a moment has arrived—but only by the sadly low standards of the current fiscal debate. Mr Obama’s budget proposal, unveiled on Februa...