Is it just me, or are Mitch McConnell and Paul Krugman elaborating two variations on the same economic theory? Krugman writes as though stimulus spending pays for itself (more than pays for itself, in fact), McConnell talks as though tax cuts pay for themselves. Both theories rely on magic: Krugman on the magic of the Keynesian multiplier effect, McConnell on the magic of the supply-side revenue effect.

How about a little less theory and a llittle more simple arithmetic? Spending = Taxation. Further thoughts here.