
More than 200 economists, including four Nobel prize winners, signed a letter rejecting proposals by presidential candidates Hillary Clinton and John McCain to offer a summertime gas-tax holiday.
The moratorium would mostly benefit oil companies while increasing the federal budget deficit and reducing funding for the government highway maintenance trust fund, the economists said.
Rivlin, who headed the CBO before running the White House budget office during the Clinton administration, was among the Clinton backers signing the letter.
"I don't have to agree with everything she says, and I think she was wrong on this one," Rivlin said in an interview today. "If anything, we need higher gas taxes."
Who do these elitists think they are? ;)
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