If you only care about spending, then perhaps you can make the case for divided government. But, even then, it depends on the circumstances. The 1994-2000 period was a special case where you had a Republican Party that (at least early on) was dedicated to shrinking the size of government, and a Democratic president who was willing to triangulate. But should the Democrats gain control of one or both chambers of Congress, they certainly won't be slashing spending, and President Bush has shown absolutely no interest in doing so either. Perhaps, as some have suggested, he would be more willing to veto spending bills coming from a Democratic Congress, but that's a big question mark--after all this is the man who gave us No Child Left Behind and the Medicare prescrition drug benefit. Perhaps, in another time, it might be worth taking the risk and voting for divided government. But, as David pointed out, there's that whole issue of fighting terrorism.
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