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With Mike Johnson as House speaker, Republicans can return to legislating. Chief among their priorities should be tackling the nation’s dire fiscal state. That includes trillion-dollar annual deficits, entitlement programs hurtling toward insolvency, and $33 trillion in national debt. Mr. Johnson says he intends to create a bipartisan commission to study the latter issue.
Republicans will soon face a familiar quandary: Reducing deficits will require cutting popular social programs, raising taxes, or both. The party has pledged it will do neither. It isn’t, however, without options.
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