Folks saying the GOP just lost credibility on deficit reduction seem to be forgetting that they paid for two wars of choice and two massively unfunded domestic mandates on a credit card the last time they were in charge. The last two balanced budgets came under Democratic Presidents (Clinton and Johnson) and produced surpluses that were squandered by the Republican administrations that succeeded them.
The highest historical peacetime deficits we ever experienced were under Ronald Reagan giving lie to any mantle of fiscal conservatism he could claim. The last Republican president (HW Bush) to raise taxes to try and balance the budget drew a strong primary challenger for breaking a no new taxes pledge and lost the general as much of his base gravitated to a similar third party candidate in the general. Extreme tax cutters have consistently defeated deficit hawks in GOP congressional primaries for the last two decades.
The last deficit hawk to win a GOP nomination had to put a supply sider on the ticket (Dole-Kemp). They’ve never been credible on this issue. Even before the religious right and more recent fascist takeover on social issues; their consistent economic philosophy has always been to cut taxes for the wealthy and balance what’s left of the budget on the backs of the poor.
It also becomes harder and harder to leave race out of the equation. That’s the only reason I can think of that the mere possibility a black welfare recipient or undocumented immigrants skimming some extra cash off the system conjures far more popular outrage than actual incidents of big corporations and private individuals skimming millions if not billions off the system. For instance, why the CEO of Davita isn’t a household name but the “Cadillac Queen” Reagan denounced is still something your right wing cousin on Facebook rails against. One a very extreme isolated example of a professional con artist who bilked the government thousands of dollars and the other an all too common CEO of a company relying exclusively on the government for his multibillion dollar cash flow.
So let’s not pretend this new monstrosity is any different. It gives prior Democrats too little credit for their fiscal responsibility and Republicans way too little blame for decades of fiscally irresponsible wealth transfers from the middle class to the wealthy.