Tuesday, July 08, 2008

A Balanced Budget?

I'll be quick on this one. McCain says he plans to have a balanced budget. While he cuts taxes. Right. Now, to be fair, one can achieve a balanced budget with tax cuts under certain circumstances - when the cuts are not significant and when costs can be contained. Neither of these seem to hold here. His tax cuts are significant, including making the Bush tax cuts permanent and repealing the Alternative Minimum Tax. On top of that, he has no chance of keeping a lid on spending. Even if he had a Republican Congress, which is unlikely, it doesn't seem reasonable to think he'll be better than Bush at keeping them from increasing his budget. On top of that, he plans to somehow, magically keep entitlement spending down. Completely absurd.

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