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“Any Democrat who squirms on the tax-cut issue in the primaries has no chance ' zero ' to win the nomination. Each will have to take the “pledge” to oppose the Bush tax cuts. Thus, Bush will have succeeded in creating a situation where anyone who can win the nomination can't win the election. Democrats are not about to nominate anyone who backs the tax cut, and Americans are not going to elect anyone who favors a tax increase.”

“I have long been in favor of a balanced budget restriction at the level of the federal government of the United States. Because the federal government has money-creating powers it can, in fact, be very damaging if it runs a series of budget deficits. With the state government in the United States, they don't have money-creating powers. The automatic discipline imposed by the fact that they are in a common monetary unit and don't have control over the money power means that the balanced budget restriction is less needed.”