(via The Wall Street Journal)
Everyone should read this article from The Wall Street Journal, titled "McCain Tax Cuts Would Bloat Deficit Or Take Huge Spending Curbs" (ouch). Despite his ridiculous claims that he is a "deficit hawk," McCain's economic advisers have made it very clear and explicit that McCain will expand the deficit ("It will make deficits expand") and put our country deeper in debt at a time when we're already $9 trillion in the hole. Just to be clear, the fastest growing expense right now is interest on our massive $9 trillion debt (mostly to China and Japan). John McCain's plan will just keep on borrowing money to pay for his programs, and result in much higher taxes in the future.
UPDATE: The Center for American Progress has more info on McCain's proposed program cuts.
UPDATE II: In contrast, even The Wall Street Journal acknowledges that Obama's plan balances the books.
22 April 2008