Archive for June 12th, 2008
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Thursday, June 12th, 2008
Complete and Total Failure
Thursday, June 12th, 2008
Under either Senator Obama’s or Senator McCain’s plan, however, the debt would likely continue to rise as it has over the past eight years, even under the CBO’s relatively optimistic assumptions about spending. Senator Obama’s plan would add $3.3 trillion to the national debt (including additional interest costs) while Senator McCain’s plan would add $4.5 trillion. This does not include the cost of expanding health insurance coverage and assumes that Senator McCain’s proposals phase in and phase out on schedule. It also assumes that all of the candidates’ optimistic revenue offsets materialize. If any of these assumptions turned out to be unwarranted, the national debt would grow even more.
Read the whole thing from Brookings Institute. Have some Tums at the ready. No balanced budget for you!
