McCain's $3.3 Trillion Tax Cut Doesn't Square With Balanced Budget Pledge (Bloomberg News)

[swag]

http://www.bloomberg.com/apps/news?pid=20601070&sid=a72L7_AJ5P9c&refer=home

April 18 (Bloomberg) -- John McCain's plan to cut taxes and balance the budget wins praise from fellow Republicans. Economists and nonpartisan analysts say his numbers don't add up.

McCain's proposal, outlined April 15, would extend President George W. Bush's tax cuts, reduce the top corporate rate, repeal the alternative minimum tax and double exemptions for dependents. Price: $3.3 trillion by the end of a President McCain's second term in 2017, according to figures from his campaign and the Treasury.

The Arizona senator said that would be offset by eliminating pork-barrel spending, freezing a portion of the budget, and saving from Medicare spending. He could cut the budget by $100 billion a year ``in a New York minute,'' he said in a Bloomberg Television interview yesterday.

Robert Bixby, executive director of the Washington-based Concord Coalition, a nonpartisan group that advocates budget restraint, said ``the huge imbalance'' in McCain's plan ``is that the tax cuts are specific and large and the spending cuts are small and vague.''

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[bronxiteforever]

1. At least someone in the media is calling bullsh#t on GOP Tax Cut Koolaid

Of course Charlie Gibson and George Hannity and their vain and ignorant colleagues can't spell economics let alone ask one frickin question about the large spending hole shrub has put us in daily since taking office.

K & R

[indepat]

2. Another cut taxes and spend 'puke-style dissembling mendacious disingenuous hypocrite

:D

[stray cat]

3. McCain's economics is worse for average americans than Bush's

[AP]

4. I guess we're back on the Straight Talk Express up Crooked Valley to Slantytown.

[izquierdista]

5. "Saving from Medicare spending"

Well, why didn't you say so in the first place! There are so many old people dancing around on their replaced hips, passing for 20-somethings after their extensive Medicare paid cosmetic procedures, and humping each other like rabbits with their free daily Viagra. It's just an obvious way the government could save billions and billions! Why, I bet if they canceled Medicare entirely, the US could invade a couple more countries that desperately need it.