John Irons's Blog


Economic News, Data and Analysis

McCain advisor: Budget balance is a way to say “no”; not “economic reality”

In a recent AARP event, McCain Advisor Douglas Holtz-Eakin says a balanced budget is about saying “no” and good governance; not about “economic reality.”
Well, if it’s not about “economic reality” why not say “yes” to investments in, for example, energy independence, national infrastructure, and education?

Campaign 2008 and the Federal Deficit 206378-1 : C-SPAN Video Library (The segment on the deficit starts at 00:56:25.)
“Aiming to balance the budget gives you a way to say ‘no’… as an economist, $0 vs $20 billion dollars, we know that there is no economic reality there. But as a matter of governance [a balanced budget goal] gives you a way to make decisions”


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