for sure. absolutely right.
if you plan to lower taxes in the face of a deficit, you have no credibility as a deficit hawk (except in the extreme circumstances that taxes are so high they extinguish incentives).
if you plan to increase defence expenses in the face of a deficit, you also have no credibility as a deficit hawk.
but this is the usual republican trick. they are deficit hawks with respect to democratic expenditure. but they are supply-siders who run up massive deficits when their own projects are in play.
the funny thing is, in some circumstances running up a deficit isn't a bad thing. right now, the deficit is funded at incredible rates of interest that make borrowing to fund infrastructure spending an excellent idea. infrastructure is an asset that delivers income and benefits over the long run. this would probably also create jobs and boost consumption immediately.
so this is the wrong time to make cuts. for myself, i'd tail off the government expenditure when unemployment reaches 7% or so.
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