Republican Tax Insanity May Continue

Paul Krugman:

"Proposing to extend past unaffordable tax cuts has the same effect on the budget as proposing new unaffordable tax cuts. The bottom line is that the combination of the Bush tax cuts and McCain’s extensions and revisions would leave the federal government without sufficient revenue to do its job; no amount of bobbing and weaving can change that fact. And it’s really sad to see Holtz-Eakin lending his reputation to this sort of thing."