McCain's Fuzzy Matha.abcnews.com
McCain's Fuzzy Math
Added 1849 days ago in Business
angrybear.blogspot.com — Sen. John McCain is proposing tax cuts that would either cause the federal deficit to explode or would require unprecedented spending cuts equal to one-third of federal spending on domestic programs. Once thought of as a deficit hawk, the near-certain Republican presidential nominee is now putting more stress on the traditional Republican orthodoxy of tax cuts. Altogether, he proposes more than $650 billion in tax cuts a year, much of it benefiting corporations and upper-income families. That includes the cost of extending tax cuts implemented under President Bush that he voted against twice. To help pay for it all, the Arizona senator says he would cut $160 billion a year from a federal discretionary budget that totals a little more than $1 trillion. He hasn't specified where the cuts would come from. With military spending - about half the total - likely to rise or perhaps stay even, most if not all of the cuts would have to come from domestic programs. The discretionary budget, which excludes entitlements such as Medicare or Social Security, covers areas such as medical research, federal prisons, border security, student loans, food inspections and much else. The $160 billion figure is equal to the total budget in 2007 for the departments of Education, Energy, Homeland Security, Justice and State. The chances of cuts of this magnitude are "nonexistent," said Robert Bixby, executive director of the Concord Coalition, a nonpartisan group that promotes fiscal discipline. "There's not a consensus to cut back on the functions of government that much," he said. "Those are very, very deep cuts."

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Posted by Jane60
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McCain's Economic Plan: Fuzzy or Sound?
Fuzzy
92%
Sound
7.8%
This is not a scientific survey, click here to learn more. Results may not total 100% due to rounding and voting descrepencies.
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Herbert
Posted 1848 days ago
0 up votes, 0 down votes
McCain knows nothing about economics, but he knows how to say what his staff tells him.
He is a Reagan foot soldier, a graduate of Annapolis (894 out of 899), a Vietnam war hero (if getting caught by the enemy is heroic and of course his daddy was the Admiral in charge).

Check out: http://www.youpolls.com/details.asp?pid=1632
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