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The nightmare scenario, according to Berkeley economist (and former Clinton Treasury official) Brad DeLong, is that the Democrats regain the White House and decide that Clinton's big economic error "was in ruling like a moderate Republican."
"That White House would then say, 'The Republicans bet that they could run large deficits produced by tax cuts and that we would clean up their mess? Let's raise them: let's put all the social programs we might ever like to see in motion, double the deficit, and make it their responsibility to clean up the mess.'" wrote DeLong on his Website. "That way lies Argentina, remarkably rapidly."