One of the only things both parties been agree on is spending lots of money. They differ only in rhetoric and what they want to spend that money on. The most fiscal restraint is usually shown when you've got a split executive - legislative across both parties since neither is inclined to work towards the other which simultaneously retards the growth of the budget slightly.
Yes, because generating infinite amount of debt is fashionable now. All that Republicans try to do is to stop the US from following Venezuela's footsteps. Unfortunately, it might already be too late for that.
