Cato’s Twitter feed praises the “brilliant column from George F. Will today”. Brilliant? Was this brilliant–? “Bubbles will always be with us, because irrational exuberance always will be.” Oh, I see now why it’s brilliant–it mentions Cato by name, enlisting it in support of McCain:
William Niskanen, chairman of the libertarian Cato Institute, notes that in the past 50 years, “government spending has increased an average of only 1.73 percent annually during periods of divided government. This number more than triples, to 5.26 percent, for periods of unified government.”
I.e., electing McCain is the fiscally responsible thing to do. I’m sure glad we had divided government under W. It really kept government spending increases restrained!