“There’s no quick fix for the fiscal catastrophe America’s facing. A majority of governors have enjoyed LIV authority for decades. And most of the scholars who’ve crunched the numbers have concluded that it’s hardly a magic pill. Douglas Holtz-Eakin, John McCain 2008’s chief economic adviser, did one of the most comprehensive studies on what the state experience suggests about a federal LIV: It’s ‘unlikely to reduce the size of the federal government.’” (03/09/10)