With the stimulus, there is alot of political angst against extending it. There will be less with extending tax cuts, since everybody loves to get those and every Congressman loves doling them out.
Yep. As soon as the economy is up and running again, most people will forget all about it and go back to the same old way of doing things.Absolutely. Politically, it is easier to "sell" accommodation than "sacrifice." Unfortunately, over time, what would ordinarily have been cyclical budget deficits are transformed into structural ones when the accommodation is made permanent de jure or de facto.