I actually don't think Josh is right. While the Bush administration has certainly not been good for the nation's balance sheet it actually isn't too late to fix the damage. For a variety of reasons the worst impacts of the Bush tax cuts for the rich won't really hit for a couple more years.
Of course, Fred Hiatt's Washington will be upset about the deficit, but much more upset about any sensible plan to fix the problem by nudging up the top marginal tax rates by a couple of points. This will make it difficult for genuine grownups to be elected.
