Business

No More Tax Cuts

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Those aren’t my words. They’re the words of one of the lead economists in Washington…and thereby the world…

From the NY Times:

As director of the Congressional Budget Office, Douglas Holtz-Eakin has been Congress’s top economist, handpicked by the Republican leadership. Recently, he had some advice for lawmakers – mostly Republicans – who insist that more tax cuts will foster economic growth and raise tax revenue: “Don’t even think about it.”

The occasion was the release of the agency’s long-term outlook, which shows huge unending deficits. “You can’t grow yourself out of this problem,” said Mr. Holtz-Eakin. “It’s just too big.”

Still believe in the miracle of supply side economics? Still believe what John Snow believes?

I certainly don’t. But hey…that’s just me.