April 13, 2011

Mankiw on "The Budget Mulligan"

The headline is mine. Professor Mankiw is charitable and serious on the speech, even as he lays out stark differences.

Here we see the fundamental differences between the parties: One believes in spending more and allocating that spending via central planning. The other believes in spending less and harnessing individual choice and competition to ensure that the money is spent wisely.

To be sure, there is room for compromise, especially on the first question, but the issues are not just numerical. The parties start with fundamentally different visions of markets and government.


Obama Administration Posted by John Kranz at April 13, 2011 6:48 PM

Mankiw is full of it. Both parties are about "spending more and allocating that spending via central planning." Republicans proved it while they held both the White House and Congress. Republicans just profess to want to tax less, meaning future generations will be saddled with debt.

There is no room for compromise on this. As Rand said, you cannot compromise with poison. "There can be no compromise between a property owner and a burglar; offering the burglar a single teaspoon of one's silverware would not be a compromise, but a total surrender--the recognition of his right to one's property."

Posted by: Perry Eidelbus at April 14, 2011 10:44 PM | What do you think? [1]