Views on Money for Iraq War, and What Else Could Be Done With It(New York Times)

...Douglas Holtz-Eakin, Mr. McCain’s chief economic adviser and a former director of the Congressional Budget Office, said the benefits of success in Iraq dwarfed the $150 billion annual cost. He also said that if the war and the personal and corporate tax cuts that Mr. McCain advocated added to the federal deficit and debt, so be it.

“I would like the next president not to talk about deficit reduction,” Mr. Holtz-Eakin said at a symposium sponsored by the Committee for a Responsible Federal Budget. “The next president should talk about what’s good for American families — education, health care at reasonable costs, pensions that are secure, opening our borders to trade. If we can take care of that, we can take care of the budget.”

Mr. McCain has said he plans to pay for tax cuts and modernizing the military by eliminating earmarks and wasteful spending from the federal budget. Both Senators Clinton and Obama would allow the Bush administration’s personal income tax cuts to expire in 2011 and are proposing new levies on wealthy individuals, oil companies and other businesses to help pay for expansive and expensive new government programs.