When non-supply side apologist or free market-leaning economists who are most likely Democrats strike

I just came across this great tidbit, courtesy of the great Greg Mankiw. Paul Orszag, a well-respected public finance economist who used to work for the Brookings Institution (not exactly a right-wing bastion) and who is now Director of the Congressional Budget Office, prepared a report for Congressman Paul Ryan, the Ranking Member of the Budget Committee, on issues of spending. Citing Greg's citation verbatim:

With no economic feedbacks taken into account and under an assumption that raising marginal tax rates was the only mechanism used to balance the budget, tax rates would have to more than double. The tax rate for the lowest tax bracket would have to be increased from 10 percent to 25 percent; the tax rate on incomes in the current 25 percent bracket would have to be increased to 63 percent; and the tax rate of the highest bracket would have to be raised from 35 percent to 88 percent. The top corporate income tax rate would also increase from 35 percent to 88 percent.

Such tax rates would significantly reduce economic activity and would create serious problems with tax avoidance and tax evasion.

Looks like the new generation of spend-happy Democrats is going to have a lot of trouble financing all of the goodies they want while still maintaining a strong and growing economy.