McCain's Mixed Fiscal Policy

By Dan Balz John McCain has been around Washington long enough to remember the days when Republicans constantly clashed among themselves over fiscal policy. Were they the party of Jack Kemp, of supply-side economics and big tax cuts, or the party of Bob Dole and the green eyeshade economics of deficit reduction? McCain today finds himself with a foot in both camps, though tentatively. He remains an unconvincing tax cutter but he is also an unpersuasive deficit hawk, at least on the basis of his latest economic plan. He is a pure reflection of the Republican Party he seeks to lead. That proposal, unveiled with great fanfare on Monday, moved him back in the direction of deficit reduction after a lurch toward tax cutting designed to make him more acceptable to the party’s supply-side devotees. Budget experts were quick to note... [read full story]