Grasping Reality on TypePad, by Brad DeLong

A correspondent emails:

Mankiw is advising Romney and Romney is for a balanced budget amendment. Isn't that worth a little discussion on the Delong blog? Does Greg disagree with his candidate? Does his textbook?

Asked and answered: N. Gregory Mankiw, Principles of Economics:

http://books.google.com/books?id=oRgQ2goeFzwC&pg=PA797&lpg=PA797&dq=mankiw+automatic+stabilizers&source=bl&ots=4q5LT6liWa&sig=xQlZiY0ZoKOi3fTLTVLMhevW2Wo&hl=en&ei=zGNETqWsN83ViAKEvpyEAg&sa=X&oi=book_result&ct=result&resnum=1&ved=0CBYQ6AEwAA#v=onepage&q&f=false: