Marginal Revolution: You can stop worrying: Martin Feldstein and John Taylor reassure us:
And by maintaining strong control over the growth of government spending, Mr. McCain will bring the budget into balance. His long record of fighting against excessive government spending, his plans to veto earmarks and reverse the spending binge of the past few years, and his strong commitment to balancing the budget can make this goal a reality.
Here is the full article, hat tip to Greg Mankiw.
This article claims that goldfish are as smart as mice.
Now what is this figure of speech called--setting two objects side by side in order to implicitly assert that they are equal in some dimension, in this case credibility?
Martin Feldstein had built up an enormous reserve of economic policy credibility by his single-handed fight in 1982-1984 to try to make the Reagan administration recognize budgetary reality.
It is now exhausted.