Rubinomics

Rubinomics, a portmanteau of Rubin and economics, was originally used to collectively describe the economic policies of President of the United States Bill Clinton. It is named after Robert E. Rubin, former United States Secretary of the Treasury.

Rubinomics emphasizes the effect that balancing the government budget has on long-term interest rates. Taxes should match government spending in the long run, and deficit-financed tax cuts are a counter-productive way to increase growth. This can be seen as a form of the fiscal theory of the price level – fiscal policy affecting long term inflation (as expressed by long-term interest rates).