The real goal should be reduced government spending, rather than balanced budgets achieved by ever rising tax rates to cover ever rising spending.

p. Applied Economics: Thinking Beyond Stage One ISBN 0-465-08143-6
2002. ISBN 978-0-300-10775-3.

He is the author of more than 30 books. He dropped out of high school and served in the United States Marine Corps during the Korean War. Since 1980 he has worked at the Hoover Institution at Stanford University.