Amazingly enough, the federal government announced in February a freeze on new spending, with credible plans for a budget surplus by 2015! Unfortunately, the federal government I'm referring to isn't in the U.S.; it's north of the border in Canada.
Under the admirable leadership of the Conservative Party's Stephen Harper, the Canadian deficit shrinks to $3 billion this year, with a projected surplus of $6 billion next year. The rating agency Standard & Poor's hailed this achievement as a model for the rest of the world, declaring that "Canada went through the financial crisis without witnessing an alarming rise in debt levels, and didn't use any extraordinary policy measures."
In other words, the steady, cautious, cost-cutting policies of Prime Minister Harper worked far better than the lavish stimulus packages and reckless government expansion of the inept, misguided President Obama.