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          Economist’s statement on John McCain’s jobs for America
          Economic Plan
          By Online Thursday, October 23, 2008

          ARLINGTON, VA – U.S. Senator John McCain’s presidential campaign today released a statement
          signed by over 300 professional economists in support of John McCain’s Jobs for America
          economic plan. The list includes Nobel Prize winners, business economists with experience in the
          private sector, policy economists with experience in government and academic economists from
          major universities and state and community colleges.

          Those signing the statement include Nobel Prize winners in Economics (Gary Becker, James
          Buchanan, Robert Lucas, Robert Mundell and Vernon Smith), former Presidents of the American
          Economic Association (Gary Becker, Martin Feldstein, Anne Krueger and Robert Lucas),
          economists who have served in the U.S. Treasury as Secretary or Under Secretaries (George
          Shultz, Beryl Sprinkel and John Taylor), former Chairs and other Members of the President’s
          Council of Economic Advisers (Michael Boskin, Martin Feldstein, Glenn Hubbard, Paul MacAvoy,
          Burton Malkiel, Paul McCracken, William Poole, Harvey Rosen, Beryl Sprinkel, John Taylor and
          Murray Weidenbaum), former OMB Directors and other officials (John Cogan, James Miller, George
          Shultz and Amy Smith), former CBO Directors (Dan Crippen, Douglas Holtz-Eakin and June

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          O’Neill), former Chair of the Commodity Futures Trading Commission (Wendy Gramm), former
          Chairs of the Federal Trade Commission (James Miller and T im Muris) and economists who have
          served as Under Secretary of Commerce (Kathleen Cooper and Tony Villamil).

          Economists’ Statement:

          We enthusiastically support John McCain’s economic plan. It is a comprehensive, pro-growth,
          reform agenda. The reform focuses on the real economic problems Americans face today and will
          face in the future. And it builds on the core economic principles that have made America great.

          His plan would control government spending by vetoing every bill with earmarks, implementing a
          constitutionally valid line-item veto, pausing non-military discretionary government spending
          programs for one year to stop their explosive growth and place accountability on federal
          government agencies.

          His plan would keep taxes from rising, because higher tax rates are exactly the wrong policy to
          restore economic growth, especially at this time.

          His plan would reduce tax rates by cutting the tax that corporations pay to 25 percent in line with
          other countries, by completely phasing out the alternative minimum tax, by increasing the
          exemption for dependents, by permitting the first-year expensing of new equipment and technology,
          and by making permanent a reformed tax credit for R&D.

          His plan would also create a new and much simpler tax system and give Americans a free choice of
          whether to pay taxes under that simple system or the current complex and burdensome income tax.

          His plan would open new markets for American goods and services and thereby create additional
          jobs for Americans by supporting good free trade agreements, such as the one with Colombia, and
          working with leaders around the world to avoid isolationism and protectionism. His plan would also
          reform education, retraining, and other assistance programs so they better help those displaced by
          trade and other changes in the economy. His plan addresses problems in the financial markets and
          housing markets by calling for increased transparency and accountability, by targeted assistance to
          deserving homeowners to refinance their mortgages, and by opposing so-called reform plans which
          would raise the costs of home-ownership in the future.

          The above actions, as well as plans to address entitlement programs – especially Social Security,
          Medicare and other government health care programs – and his regulatory reforms – especially in
          the area of health care – constitute a broad and powerful economic agenda. Because of John
          McCain’s experience working with the American people in all walks of life, with members of
          Congress on both sides of the aisle, and with leaders around the world, we are optimistic that these
          plans will become a reality and will create jobs and restore confidence and strong economic growth.

          Economists Who Have Signed The Statement:

          Burton Abrams, University of Delaware
          James D. Adams, Rensselaer Polytechnic Institute
          Douglas K. Adie, Ohio University
          Richard Agnello, University of Delaware
          William Albrecht, University of Iowa
          Constantine Alexandrakis, University of Massachusetts at Dartmouth
          William Alpert, University of Connecticut
          Wayne Angell, Former Fed Governor

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          Fernando E. Alvarez, University of Chicago
          Geoffrey T. Andron, Austin Community College
          George R. Averitt, Purdue University North Central
          Charles Baird, California State University, East Bay
          Howard Beales, George W ashington University
          Stacie E. Beck, University of Delaware
          Gary Becker, University of Chicago
          Donald Bellante, University of South Florida
          Daniel K. Benjamin, Clemson University
          John J. Bethune, Barton CollegeSanjai Bhagat, University of Colorado
          Andrew G. Biggs, American Enterprise Institute
          Robert G. Bise, Orange Coast College
          Michael K. Block, University of Arizona
          Donald Booth, Chapman University
          Karl J. Borden, University of Nebraska
          Michael Bordo, Rutgers University
          George H. Borts, Brown University
          Mich ael Boskin, Stanford University
          Daniel P. Brandt III, Washington, D.C.
          Ike Brannon, Department of the Treasury
          David P. Brown, University of Wisconsin-Madison
          Jeff Brown, University of Illinois at Urbana-Champaign
          Joseph Brusuelas, Merk Investments
          Phillip J. Bryson, Brigham Young University
          Andrzej Brzeski, University of California, Davis
          James Buchanan, George Mason University
          Todd Buchholz, Two Oceans Management
          Richard Burdekin, Claremont McKenna College
          Richard V. Burkhauser, Cornell University
          James B. Burnham, Duquesne University
          Andr ew B. Busch, BMO Capital Markets
          James L. Butkiewicz, University of Delaware
          Mark Calabria, United States Senate
          James Carter, Vienna, VA
          Don Chance, Louisiana State University
          Barry R. Chiswick, University of Illinois at Chicago
          Bhagwan Chowdhry, UCLA
          Richard Clarida, Columbia University
          Candice Clark, Economic consultant
          Kenneth W. Clarkson, University of Miami
          Warren Coats, IMF, retired
          John Cogan, Hoover Institution
          Boyd D. Collier, Tarleton State University
          Michael Connolly, University of Miami
          Kathleen B. Cooper, Southern Methodist University
          Joshua Coval, Harvard University
          Ted Covey, McLean, Virginia
          Nicole Crain, Lafayette College
          W. Mark Crain, Lafayette College
          Dan Crippen, Former CBO Director
          Thomas D. Crocker, University of Wyoming
          Robert L. Crouch, University of California, Santa Barbara

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          Mario J. Crucini, Vanderbilt University
          Ward S. Curran, Trinity College
          Coldwell Daniel III, The University of Memphis
          Antony Davies, Duquesne University
          Steven Davis, University of Chicago
          Clarence R. Deitsch, Ball State University
          Richard DeKaser, National City Corporation
          Stephen J. Dempsey, University of Vermont
          Christopher DeMuth, American Enterprise Institute
          David B.H. Denoon, New York University
          William G. Dewald, Ohio State University
          Arthur M. Diamond Jr., University of Nebraska at Omaha
          John Diamond, Rice University
          David L. Dickinson, Appalachian State University
          Francis X. Diebold, University of Pennsylvania
          Jeffrey H. Dorfman, University of Georgia
          Thomas J. Duesterberg, Manufacturers Alliance/MAPI
          Parnell Duverger, Broward Community College
          Isaac Ehrlich, SUNY at Buf falo
          Martin Eichenbaum, Northwestern University
          Jeffrey A. Eisenach, Criterion Economics
          Michael A. Ellis, Kent State University
          Joachim G. Elterich, University of Delaware
          Kenneth Elzinga, University of Virginia
          Stephen J. Entin, Institute for Research on the Economics of Taxation
          T.W. Epps, University of Virginia
          Michael G. Erickson, The College of Idaho
          Paul Evans, Ohio State University
          Dino Falaschetti, Hoover Institution
          Frank Falero Jr., California State University
          Susan K. Feigenbaum, University of Missouri, St. Louis
          Martin Feldstei n, Harvard University
          Eric Fisher, California Polytechnic State University
          Arthur A “Trey” Fleisher III, Metro State College of Denver
          James Forcier, University of San Francisco
          William F. Ford, Middle Tenn. State U.
          Michele Fratianni, Indiana University
          Luke Froeb, Vanderbilt University
          Kenneth C. Froewiss, NYU Stern School of Business
          Diana Furchtgott-Roth, Hudson Institute
          Timothy S. Fuerst, Bowling Green State University
          Lowell Gallaway, Ohio University
          B Delworth Gardner, Brigham Young University
          Dave Garthoff, The University of Akron
          Ilhan K. Geckil, Anderson Economic Group
          Rick Geddes, Cornell University
          Joseph A. Giacalone, St. John’s University
          Adam Gifford, California State University, Northridge
          David Gillette, Truman State University
          Micha Gisser, University of New Mexico
          Amy Jocelyn Glass, Texas A&M University
          Charles J. Goetz, The University of Virginia

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          Claudio Gonzalez-Vega, The Ohio State University
          Lawrence Goodman, Bergen City, NJ
          Barry K. Goodwin, North Carolina State University
          Eric S. Graber, Independent Economist
          Douglas H. Graham, The Ohio State University
          J. Edward Graham, University of North Carolina Wilmington
          Phil Gramm, Former U.S. Senator
          Teresa Beckham Gramm, Rhodes College
          Wendy Lee Gramm
          William B. Green, Sam Houston State University
          Kenneth Greene, Binghamton University
          Paul Gregory, University of Houston
          Earl Grinols, Baylor University
          Gary Hansen, UCLA
          Eric Hanushek, Hoover Institution
          Stephen Happel, Arizona State University
          James E. Hartley, Mount Holyoke College
          Kevin Hassett, American Enterprise Institute
          Joel W. Hay, University of Southern California
          Jared E. Hazleton, Texecon: A Texas Economic Consulting Firm
          Charles E. Hegji, Auburn University Montgomery
          Robert H. Heidt, Indiana University School of Law
          Harold M. Hochman, CUNY Graduate Center and Lafayette College
          Robert J. Hodrick, Columbia Business School
          Stuart G. Hoffman, The PNC Financial Services Group
          Arlene Holen, Washington, D.C.
          Mac R. Holmes, Troy University
          Douglas Holtz-Eakin, John McCain 2008
          C. Thomas Howard, University of Denver
          E. Philip Howrey, University of Michigan
          Glenn Hubbard, Columbia University
          James L. Huffman, Lewis & Clark Law School
          J. Christopher Hughen, University of Denver
          E. Kingdon Hurlock, Calvert Investment Counsel
          Stephen L. Jackstadt, University of Alaska, Anchorage
          Joseph M. Jadlow, Oklahoma State University
          Sherry L Jarrell, Wake Forest University
          Michael C. Jensen, Harvard Business School
          Dennis A. Johnson, University of South Dakota
          Shane A. Johnson, Texas A&M University
          Richard Just, University of Maryland
          Tim Kane, Washington, D.C.
          Steven Kaplan, University of Chicago Graduate School of Business
          Alexander Katkov, Johnson and Wales University
          Melissa Kearney, University of Maryland
          Joe Kennedy, Arlington, Virginia
          Lawrence W. Kenny, University of Florida
          Calvin A. Kent, Marshall University
          E. Han Kim, University of Michigan
          Robert G. King, Boston University
          Paul R. Koch, Olivet Nazarene University
          Meir Kohn, Dartmouth College

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          James W. Kolari, Texas A&M University
          Roger C. Kormendi, Kormendi/Gardner Partners
          Marvin Kosters, American Enterprise Institute
          Robert Krol, California State University, Northridge
          Anne Krueger, Johns Hopkins University
          Deepak Lal, University of Cal ifornia, Los Angeles
          Douglas Lamdin, The University of Maryland, Baltimore County
          Daniel L Landau, University of Connecticut
          Richard La Near, Missouri Southern State University
          Nicholas A. Lash, Loyola University
          Don R. Leet, California State University, Fresno
          Norman B. Lefton, Southern Illinois University at Edwardsville
          Tom Lehman, Indiana Wesleyan University
          Thomas M. Lenard, Technology Policy Institute
          Noreen E. Lephardt, Marquette University
          Adam Lerrick, Carnegie Mellon University and the American Enterprise Institute
          Philip I. Levy, American Enterprise Institute
          W. Cris Lewis, Utah State University
          Andrew Light, Liberty University
          Jane Lillydahl, University of Colorado at Boulder
          Zheng Liu, Emory University
          Luis Locay, University of Miami
          John R. Lott Jr., University of Maryland
          Lawrence W. Lovik, Alabama Policy Institute
          Robert Lucas, University of Chicago
          John Lunn, Hope College
          R. Ashley Lyman, University of Idaho
          Paul W. MacAvoy, Yale School of Management
          Glenn MacDonald, Washington University in St. Louis
          John Makin, American Enterprise Institute
          Burton Malkiel, Princeton University
          David Malpass, Encima Global LLC
          Michael Marlow, California Polytechnic State University
          Donald J. Marshall, Consulting Engineer and Economist
          Aparna Mathur, American Enterprise Institute
          Timothy Matthews, Kennesaw State University
          John Matsusaka, University of Southern California
          Bennett McCallum, Carnegie Mellon University
          Paul W. McCracken, University of Michigan
          Martin C. McGuire, University of California-Irvine
          W. Douglas McMillin, Louisiana State University
          Roger Meiners, University of Texas - Arlington
          Will Melick, Kenyon College
          Allan Meltzer, Ca rnegie Mellon University
          John Merrifield, University of Texas at San Antonio
          Paul Merski, Independent Community Bankers of America
          Jim Mietus, Great Falls, VA
          Todd Milbourn, Washington University in St. Louis
          Geoffrey P. Miller, New York University Law School
          James Miller, George Mason University and The Hoover Institution
          William C. Miller, Pioneer Analytics LLC
          David E. Mills, University of Virginia

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          Velma Montoya, National Council of Hispanic Women
          Michael Moore, George Washington University
          Charles Britt Moss, University of Florida
          Robert Mundell, Columbia University
          Tim Muris, George Mason University
          David B. Mustard, University of Georgia
          Richard F. Muth, Emory University
          Anthony N. Negbenebor, Gardner-Webb University
          Charles Nelson, University of Washington
          Robert J. Newman, Louisiana State University
          Michael P. Niemira, International Council of Shopping Centers
          Tom O’Brien, University of Connecticut
          Lee E. Ohanian, UCLA
          June O’Neill, Baruch College, CUNY
          Steve Parente, University of Minnesota
          Randall Parker, East Carolina University
          Douglas Patterson, Virginia Tech
          Tim Perri, Appalachian State University
          Mark J. Perry, University of Michigan-Flint
          Tomas Philipson, University of Chicago
          William Poole, University of Delaware
          Michael E. Porter, Harvard Business School
          Barry Poulson, University of Colorado Boulder
          James Prieger, Pepperdine University
          R. David Ranson, H. C. Wainwrigth & Co. Economics Inc.
          Richard Rawlins, Missouri Southern State University
          Martin A. Regalia, Gaithersburg, Maryland
          Barrie Richardson, Centenary College
          Christine P. Ries, Georgia Institute of Technology
          Aldona Robbins, Fiscal Associates
          Gary Robbins, Fiscal Associates
          Kenneth Rogoff, Harvard University
          Richard Roll, UCLA
          Harvey Rosen, Princeton University
          Larry L. Ross, University of Alaska, Anchorage
          Robert Rossana, Wayne State University
          Timothy P. Roth, The University of Texas at El Paso
          Charles Rowley, George Mason University
          Paul H. Rubin, Emory University
          Roy Ruffin, University of Houston
          Gary J. Santoni, Ball State University
          T.R. Saving, Texas A&M University
          Mike Schuyler, Institute for Research on the Economics of Taxation
          Anna Schwartz, National B ureau of Economic Research
          Loren C. Scott, Louisiana State University
          Robert Haney Scott, California State University, Chico
          Carlos Seiglie, Rutgers University
          Richard Selden, University of Virginia
          John Semmens, Laissez Faire Institute
          Sol S. Shalit, University of Wisconsin
          Alan Shapiro, University of Southern California
          Judy Shelton

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          William F. Shughart II, The University of Mississippi
          George Shultz, Hoover Institution
          Jerome Siebert, University of California, Berkeley
          John Silvia, Wachovia
          Chuck Skipton, University of Tampa
          Scott B. Smart, Indiana University
          Amy Smith, Former OMB Chief Economist
          James F. Smith, The University of North Carolina
          Vernon Smith, Chapman University
          Sean M. Snaith, University of Central Florida
          Douglas Southgate, Ohio State University
          Frank Spreng, McKendree University
          Beryl W. Sprinkel, Retired
          Stan Spurlock, Mississippi State University
          George J. Staller, Cornell University
          Craig A. Stephenson, Babson College
          Houston Stokes, University of Illinois at Chicago
          Courtenay C. Stone, Ball State University
          Scott Sumner , Bentley College
          James Sweeney, Stanford University
          Richard Sweeney, Georgetown University
          Robert Tamura, Clemson University
          Clifford Tan, Stanford Center for International Development
          John A. Tatom, Indiana State University
          John Taylor, Stanford University
          Paul Taylor, Vienna, VA
          Teresa Tharp, Valencia Community College
          Clifford F. Thies, Shenandoah University
          Henry Thompson, Auburn University
          Walter N. Thurman, North Carolina State University
          Jerry G. Thursby, Georgia Institute of Technology
          Robert D Tollison, Clemson University
          William N. Trumbull, West Virginia University
          Kamal Upadhyaya, University of New Haven
          Charles W. Upton, Kent State University
          Peter J Van Blokland, University of Florida
          T. Norman Van Cott, Ball State University
          Richard Vedder, American Enterprise Institute
          George J. Viksnins, Georgetown University
          J. Antonio Villamil, The Washington Economics Group
          Richard E. Wagner, George Mason University
          William B. Walstad, University of Nebraska-Lincoln
          Murray Weidenbaum, Washington University in St. Louis
          Marc D. Weidenmier, Claremont McKenna College
          Finis We lch, Texas A&M University
          James B. Whitaker, Centreville, VA
          John Wicks, University of Montana
          Wayne H. Winegarden, Arduin, Laffer & Moore Econometrics
          Gary Wolfram, Hillsdale College
          DeVo L. Yoho, Ball State University
          Nancy A. Yonge, Smith Center for Private Enterprise
          Paul J. Zak, Claremont Graduate University

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           Mokhlis Y. Zaki, Northern Michigan University
           Mark Zandi, Malvern, PA
           Arnold Zellner, University of Chicago
           Kate Zhou, University of Hawaii
           Joseph Zoric, Franciscan University of Steubenville
           Benjamin Zycher, Manhattan Institute for Policy Research

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