6 Basis Points Of Fiscal Humbug From The White House CEA

Well, this figures. Back in the day we had to keep a close watch on Martin Feldstein, who was the Chairman of the Council of Economic Advisors in the Reagan White House. That’s because he was a closet Keynesian looking to polish his curriculum vitae—the president’s supply-side policy to the contrary notwithstanding.

So we are not surprised that one of his doctoral students, Stephan Miran, has followed the same path to chairmanship of the CEA. But this time he is coming from the doctrinaire ultra supply side camp, holding that real world budgetary math can be replaced by economic growth magic. No sweat!