Looks like another flip-flop on McCain's part. No balanced budget, he misspoke. Like he misspoke when he was against the bush tax cuts.
400 Billion in new spending (that's what tax cuts are, fools). How's he gonna pay for it? Uhhh...ummmm...uhhhh....Well, how's Obama gonna pay? Huh? At least McCain is talking in the right direction.
Um, yeah. Okay
McCain Outlines Broad Proposals for U.S. Economy
By MICHAEL COOPER
VILLANOVA, Pa. — Senator John McCain offered the broadest look yet at his economic policies in a speech on Tuesday in Pittsburgh, outlining a series of tax reductions and backing away from his pledge to balance the budget by the end of his first term.
The speech, delivered on the deadline for filing taxes, afforded the clearest view to date of what McCainomics might look like. There was a dash of
populism, as Mr. McCain criticized executive pay and corporate wrongdoing. There was a strong supply-side bent, with Mr. McCain focusing on cutting corporate taxes and making permanent the Bush tax cuts that he once opposed. And there was a decidedly less hawkish note on deficits, as Mr. McCain called for spending cuts but did not mention balancing the federal budget.
The McCain campaign put the cost of his tax cuts at roughly $200 billion a year, but its estimate did not include the cost of making the Bush tax cuts permanent, which would more than double that figure.
The campaign said it would offset the lost $200 billion by eliminating from the federal budget earmarked pork-barrel projects; putting a one-year freeze on discretionary spending in most federal agencies, later eliminating wasteful programs; broadening the tax base by eliminating loopholes; and spurring economic growth. But its estimate of how much could be saved with such measures was far higher than those of some other independent budget analysts.
http://www.nytimes.com/2008/04/16/us/politics/16mccain.html?_r=1&hp=&oref=slogin&pagewanted=print
400 Billion in new spending (that's what tax cuts are, fools). How's he gonna pay for it? Uhhh...ummmm...uhhhh....Well, how's Obama gonna pay? Huh? At least McCain is talking in the right direction.
Um, yeah. Okay
McCain Outlines Broad Proposals for U.S. Economy
By MICHAEL COOPER
VILLANOVA, Pa. — Senator John McCain offered the broadest look yet at his economic policies in a speech on Tuesday in Pittsburgh, outlining a series of tax reductions and backing away from his pledge to balance the budget by the end of his first term.
The speech, delivered on the deadline for filing taxes, afforded the clearest view to date of what McCainomics might look like. There was a dash of
populism, as Mr. McCain criticized executive pay and corporate wrongdoing. There was a strong supply-side bent, with Mr. McCain focusing on cutting corporate taxes and making permanent the Bush tax cuts that he once opposed. And there was a decidedly less hawkish note on deficits, as Mr. McCain called for spending cuts but did not mention balancing the federal budget.
The McCain campaign put the cost of his tax cuts at roughly $200 billion a year, but its estimate did not include the cost of making the Bush tax cuts permanent, which would more than double that figure.
The campaign said it would offset the lost $200 billion by eliminating from the federal budget earmarked pork-barrel projects; putting a one-year freeze on discretionary spending in most federal agencies, later eliminating wasteful programs; broadening the tax base by eliminating loopholes; and spurring economic growth. But its estimate of how much could be saved with such measures was far higher than those of some other independent budget analysts.
http://www.nytimes.com/2008/04/16/us/politics/16mccain.html?_r=1&hp=&oref=slogin&pagewanted=print