Post from Pale Rider's Blog:
McCain flunks Econ 101 again
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McCain has told us he is not strong on economic issues. He is so right. The following comes from factcheck.org regarding his fantasy plans to cut $100 billion from the federal budget in FY09.

McCain's pronouncements on cutting spending, and even on the growth in the size of the federal government, are dubious at best:

* McCain seems to say that he can save $100 billion by cutting out earmarks. But budget experts say that cutting earmarks would actually save very little. And questioned more closely, McCain's campaign now says that his planned savings have nothing to do with eliminating earmarks.

* With earmarks out as a potential source of savings, McCain hasn't said what he'd cut out of the discretionary budget to get to $100 billion. He's even indicated that defense spending might increase. If defense spending is off the table, saving $100 billion would require 18.5 percent across-the-board cuts in every other discretionary program, including things like elementary and secondary education, veterans' health benefits and highway construction. The alternative would be severe cuts in a few programs, as yet unnamed.

* McCain says that "just in the last few years" the government has puffed up "by 40 percent, by trillions." Actually, it has taken federal spending a decade to grow 40 percent, and even longer to grow by "trillions." In inflation-adjusted dollars, federal spending is projected to come to $2.45 trillion in fiscal 2009, including $1.4 trillion for Social Security, Medicare, military spending and veterans programs. The last time the budget was "trillions" smaller was 1951.

Reader Comments
  
Can't vote for McCain.
By Michelle K. Jun 20th 2008 at 8:03 pm EDT
He's no wiser than Bush has been on the economy. We'll just continue to go down hill with him in office.
  
Thank you for the post
By Barbara"Obama/Biden"Hussein Jun 20th 2008 at 8:07 pm EDT
Thank you.

Good read

love
  
five stars
By Liz Jun 20th 2008 at 8:09 pm EDT
thanks for the update on McCain's economic policy, or lack of it.

It's always good to have the details