WHERE'S YOUR BUDGET, MR. PRESIDENT?

During the negotiations over raising the debt ceiling, President Obama reportedly warned Republican leaders not to call his bluff by sending him a bill without tax increases. Republicans in Congress ignored this threat and passed a bill that cuts more than a dollar in spending for every dollar it increases the debt limit, without raising taxes.

Yesterday, Mr. Obama signed this bill into law. He was, as he said, bluffing.

Ever since they fudged the numbers to pass ObamaCare, Democrats have abandoned credible spending plans.