McCain advisor, Meg Whitman, contradicts herself and McCain’s budget plans
Even ignoring the fact that trickle down economics doesn’t help the average American, and that it will be the rich and corporations that get the benefit, we still see that Whitman contradicts herself admitting that even though good policy is to only give tax cuts when you have spending under control and are running surpluses, McCain will still give them out even if our current spending continues, this disporves his idea to balance the budget and supports the views that he will in fact rasie deficits.
On top of that Wonk Room looks at McCain’s budget plans and says that even if he gutted entire government offices he still wouldn’t cover his tax cuts and military spending plans:
McCain Could Eliminate 10 Cabinet Agencies And Still Not Balance His Budget
The Congressional Budget Office projects that, with the extension of expiring tax cuts, the budget deficit will top $400 billion that year. In addition, McCain has called for some $300 billion in new tax cuts. McCain has not identified specific spending reductions that save much money; earmark reductions, for example, would save only $9 billion, according to the Heritage Foundation. A generous estimate of the savings from McCain’s proposed spending freeze would be $50 billion. This leaves McCain with a budget hole of about $650 billion.
This is an astonishing amount. To put it in perspective, McCain could eliminate the following 10 Cabinet agencies and still come up $100 billion short:
Agency 2013 Projected Outlays
Agriculture $120 billion
Commerce $9 billion
Education $86 billion
Energy $30 billion
HUD $66 billion
Interior $14 billion
DOJ $32 billion
Labor $14 billion
Transportation $87 billion
Treasury $84 billion
EPA $9 billion
TOTAL $551 billion
Basically, even if he were to go cutting crazy McCain is unlikely to come close to covering his deficts.
