Taxpayers have become accustomed to the whoppers candidates tell on the campaign trail: A chicken in every pot, a car in every garage, tax cuts, spending increases, and a balanced budget all at the same time.
The problem is that we can’t afford hot air. Our nation is in the midst of fiscal crisis: the economy is in a tailspin, we have a budget deficit of more than $400 billion and our national debt tops $9 trillion. We spend hundreds of billions each year just on interest payments to service that debt. And that doesn’t even consider the looming financial challenges of Social Security and Medicare.
But instead of calls of fiscal responsibility from the Presidential candidates, we are getting more of the same on spending and tax cuts promises. Just recently Senator John McCain (R-AZ) took a bizarre policy u-turn by indicating that tax cuts are more important than balanced budgets. Huh? Another misdirected proposal is Sen. McCain’s is also making the promise to maintain and extend President Bush’s tax cuts, with...
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