Here Come The Last, Dying Gasps Of The Deficit Hawks

It almost looked like the deficit wars were over.

The hawks who insisted that we must make deficit reduction a major priority seemingly retreated, as the growing economy took the wind out of their sails.

But it looks like they're gathering for one more go at a grand bargain.

NYT's Thomas Friedman has a column urging Obama to give one more shot at a "grand bargain" that would involve lower future spending and higher taxes. Friedman believes that this will unlock corporate confidence and spending.

MSNBC's Joe Scarborough continues his crusade for deficit reduction, calling Krugman a debt denialist.

And WSJ reports that today, Simpson and Bowles, the two faces of deficit hawkism, will unveil a new plan (their 4th) providing specifics on how money can be saved on closing loopholes and reducing healthcare expenses.

So the deficit wars aren't over yet.

Despite a virtually nil possibility that DC is going to do anything substantial on the deficit, the hawks and the grand bargaineers are giving it one last go.