Vote McSame? Hold on to your wallet
MCCAIN’S PLANS WOULD ADD TO DEFICIT, DEBT, REPORT FINDS
Senator McCain’s current fiscal proposals would increase the federal deficit to its highest level in 25 years and raise the national debt to heights not seen since World War II, a new study from the left-leaning Center for American Progress found. Mr. McCain is proposing to cut corporate tax rates, repeal the alternative minimum tax, and extend President Bush’s tax cuts. The report said that those and other plans would leave America with a national debt of $12.7 trillion by the end of a two-term presidency. The Arizona senator has backed off a pledge to balance the budget by the end of his first term, but his campaign has disputed projections by Democrats that the deficit and debt would balloon under his watch. He has pledged to cut government spending significantly, but because he has not laid out specific programs to cut, those projections are not included in the analysis beyond $33 billion in earmark and “wasteful spending” reforms.
