Austan Goolsbee on the limits of supply side tax cuts

here (via Greg Mankiw).

I agree that tax cuts do not directly pay for themselves. But I also hypothesize that tax cuts constrain spending, given the balanced budget high ground each party might try to take from the other.

Constrained government spending is part of the formula towards growth, away from poverty.

UPDATE: Arnold Kling and Tyler Cowen agree!