Wednesday, March 26, 2008

Does Anyone Really Believe This?

by Tom Bozzo

Headline to Lou Uchitelle's story in the NYT: "A Political Comeback: Supply-Side Economics."

There are a couple of almost useful pieces of information in the story. One is that Arthur Laffer is a "special adviser" on John McCain's crack economics team, otherwise populated by such luminaries as Phil "even his friends don't like him" Gramm and Kevin "Dow 36,000" Hassett. Who's next, Donald Luskin?

The other is that Martin Feldstein, also a McCainiac, is wildly overoptimistic about the supply-side benefits of tax cuts, suggesting that they might offset 50 to 70 percent of the static revenue loss. The real figure is no more than 10 percent.

Labels: ,

"McCain's crack economics team..."

I'm assuming that you simply forgot to include "-smoking" after the term "crack"

Go 'sconnies!
Post a Comment

<< Home

This page is powered by Blogger. Isn't yours?