Thursday, September 18, 2008
John McCain's Fiscal Policy
In light of John McCain flip-flopping his position on the Lehman Brothers takeover in the matter of two days, his spokesperson and economic advisor for his campaign, the ever anorexic Nancy Pfotenhauer said that his fiscal policy would balance the budget by the end of his first term without making any real major cutbacks.
He plans to do this by ending earmarks, which costs us 18 billion dollars, and by cutting another 160 billion in discretionary spending. What was meant by discretionary spending was not defined.
According to an analysis of his program, the Center for American Action Fund estimated that by the end of his first term John McCain would have us in a deficit of 505 billion dollars. So we are left 337 billion dollars short of a balanced budget.
I guess John McCain was giving us the straight talk when he said that economics wasn't his strong suite.
at 8:04 PM