It is an old story. The Republicans could, once again, snatch defeat from the jaws of victory.
On one of my infrequent visits to the Hill last week, I heard a lot of chatter about offsets and other ways to get around the sequester caps, especially on defense spending, on the part of some of the House GOP leadership. The appropriators, whose stock in trade is spending other people’s money, are chafing under the sequester, maybe the single biggest victory for House Republicans since President Obama moved into the White House. This is unfortunate in that the current reduction in the deficit, stemming largely from the automatic sequester, is the largest and fastest since the post-World War II period.