McCain Will Balance Budget….And Other Fairy Tales


Sen. John McCain (R-Ariz.) plans to promise on Monday that he will balance the federal budget by the end of his first term by curbing wasteful spending and overhauling entitlement programs, including Social Security, his advisers told Politico.

Add that to His Fairy Godmother/Dear Santa 2013 Wishlist he proposed earlier.  McCain earlier, lying through his teeth (or unforgivably uninformed for a man in his position running for the Presidency) said that he would balance the budget through cutting earmarks spending alone.  Until he learned that foreign aid to Israel and Egypt were done through earmarks (which he said he isn’t touching) and all the reputable economic analyses show his plans leaving (like every Republican Prez since Nixon) a massively increased federal deficit.

So at least now the cat is out of the bag for those with ears to hear.  The only way McCain can balance the budget is through a massive attempt at the deregulation/slashing of the US government.  Sounding more and more like Rudy Giuliani every day now.  Like the old McCain, I don’t mean the old mayor of NYC Rudy but the Rudy who ran as the ultra-hawk and ultra-tax cutter rich guy during the Republican nomination campaign.

Now McCain will pull off something not even Reagan couldn’t–decrease the size of the federal government)–while proposing enormous cuts in taxes during a WAR that he promises to keep going at full tilt.

Here is Jared Bernstein from March of this year:

As Holtz-Eakin [McCain’s economic adviser] put it a few years ago in an opinion piece for The Washington Post, a serious fiscal approach “should rethink the package of support for old-age medical care, long-term care services and retirement income.”

Much like the material on McCain’s Web site, that sounds innocuous enough. It also has the benefit of being true. Absent a “rethink,” Medicare will swamp the federal budget…

But here’s the rub: words like “reform,” “rethink,” and “making tough choices” sound a lot different than words like “cut, and cut deeply.” Holtz-Eakin has integrity, and he likes his numbers to add up. He knows that they can’t do what they say they’re planning to do without going after entitlements big time. As he put it the other day in The Wall Street Journal, “You can’t keep promises made to retirees” (to be fair, he also noted that “you can pay future retirees more than current retirees”).

The Democrats are saying that McCain is Bush’s Third Term but again like in foreign policy he is McWorse.  In the waning twilight years of the Bush presidency, they pulled off a deal with North Korea and have to a (slight) degree become less entangled in their own earlier ideological FP lunacy.  McCain at the same moment is going more hawkish–rattling sabers with Russia and China and calling for the Super Friends League of Democracy.  Now McCain is even more ultra-orthodox supply side economics than Bush.  And he has promised Scalia-Thomas-Roberts-Alito like Justices to the Supreme Court along with pushing for the California Referendum to undue the same-sex marriage statue in California (against the Governor, his buddy Arnold).  Triple hard right whammy.

Oh but he thinks global warming is real so he’s a straight talk maverick/moderate.   WTF?

On the one hand, I have to give him props that he is coming straight out and saying his vision is nuckin futs.  He is running against the head wind of popular opinion (er public intelligence?) on every single issue.  By huge margins.  Iraq, Social Security, Health Care, you name it, he’s going in the wrong direction.  In the midst of the complete collapse of this long held conservative coalition/ideology run aground on a recession and a failed war (and having been built to deal with the stagflation and issues of the 70s), he is quadrupling down on it when any other smart Republicans are trying to run and hide and find anything they can.

Though I suppose he’ll just have some more journalists over to his house for a BBQ and will regale them with some personal anecdotes, so it’ll all work out in the end.

On the other hand, relevant to this domestic policy he’s hugely full of caca because it’s not of course like any of this would ever see the light of day if McCain (God forbid) were elected.  He will among other things have a Democratic Congress in both houses.  That’s guaranteed.  Who will not pass his upper elite friendly tax cuts or massive spending cuts to things like Medicare or Social Security.  And as every Republican from Nixon on has learned running government involves compromise.  It’s one thing to spout this Grover Norquist ideology another to actually achieve any of it.  If Bush couldn’t with a Republican Congress, how in the name of Milton Friedman is McCain going to do it with Democrats in Congress?

Published in: on July 6, 2008 at 11:01 pm  Comments (1)  
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  1. […] on McFantasy It’s much worse than I gave credit for […]

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