Holtz-Eakin Doesn't Need No Educating...

McCain adviser Doug Holtz-Eakin responds to the commentary about his remarks to Time published this a.m., which the McCain campaign contends (I think rightly) have been taken out of context:

"John McCain has no plans to raise taxes.  He has a strong commitment to reverse the fiscal profligacy of the past decade, control spending growth, and balance the budget.  Those commitments are clear and stand in contrast to Senator Obama.  Barack Obama has an ideologically-driven desire to raise tax rates that leaves the only current source of job growth -- small business -- at risk.  Barack Obama plans to expand the already-rapid growth in spending.  And Barack Obama has no plan to balance the budget."

A McCain aide explains that Holtz-Eakin was responding, tongue-in-cheek, to a contention that Obama's fiscal policy would be a net tax cut. 

Both the Obama campaign and the DNC separately distributed the Time article to reporters this morning.  Time has since appended this clarification:

The original version of this story contained a quote by John McCain's economics adviser, Douglas Holtz-Eakin, that some have misinterpreted as suggesting that McCain is not really a tax cutter. The quote has been amended to make clear that when Holtz-Eakin said "I stand corrected," he was referring to his previous statements that Obama raises taxes, not that McCain cuts them.

The original context made it sound as if DHE was repudiating a simplistic caricature of both candidate's economics' plans.