[Patrick Appel] Within the past few weeks, it has become obvious that the eventual Democratic candidate will attack McCain on economics. The Democrats have picked up where Romney's attack ads left off. After reading Andrew Ferguson's article, I don't feel any better about McCain's economic platform:
What makes it odd is [McCain's economics advisors] aren't like each other at all, at least when it comes to their economic views. A couple of them, if you put them in the same room, would set off an intergalactic explosion like the collision of matter and antimatter.
One adviser, Jack Kemp, is the man who talked Ronald Reagan into embracing supply side economics in the 1970s, which launched the Reagan boom of the 1980s. He's the world's bubbliest advocate of tax cuts, dismissing the traditional Republican fixation on balanced budgets as "root canal" economics. Another adviser, Peter Peterson, is root canal economics. He's a dour Jeremiah who called the Reagan boom a "mad, drunken bash" and thinks steep tax increases on income, gasoline, tobacco, and alcohol, on top of a 5 percent consumption tax, are necessary to put the government's finances in order. He and Rudman run the Concord Coalition, an advocacy group that regards the federal government's budget deficit as the country's foundational economic problem.
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