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Authors, sign in!During the third presidential debate, McCain proclaimed that the public "wants a new direction. I can bring them in that direction by eliminating spending." McCain has advocated a freeze on all discretionary spending, a radical proposal that would in turn allow inflation to eat away at Head Start funding, Pell Grant funding, unemployment benefits, and food stamp programs, just to name a few. On Monday, McCain adviser Douglas Holtz-Eakin acknowledged that balancing the budget will be "harder" to do because of the economic downturn. Nevertheless, Gov. Sarah Palin (R-AK) still commits to a balanced budget by the end of the first term. Sens. Norm Coleman (R-MN) and Saxby Chambliss (R-GA) have also committed to aggressively pursuing a balanced budget during the economic crisis.But, a consensus is emerging among economists that the recession has brought on the need for the next administration to, "initially, at least -- open its wallet, not tighten its belt." - (The Progress Report)
Published October 22, 2008 by Simone Davis |
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| Tags:
Federal Deficit
Herbert Hoover
John McCain
Republican Party
Sarah Palin
