Sunday, September 14, 2008

Greenspan critical of McCain's Tax Plan

Alan Greenspan, despite the fact he is a long time friend of John McCain, made it clear that McCain's plan of willy nilly tax cuts without offsetting spending reductions will only result in more debt. McCain's response is that he will cut earmarks.

As usual more smoke and mirrors from McCain and he just flat out isn't being honest with the American People. First of all earmarks are just a drop in the bucket in the federal budget, secondly not all earmarks are bad nor should be eliminated.

Earmarks pay for schools, infrastructure, libraries, research that leads to some of the discoveries in medicine, and energy solutions this country needs. Chances are you drive every day on a highway or bridge that was partially paid for by earmarks, perhaps you or your children has attended a school that had some funding from earmarks. You may take medicines or drive a car that is more efficient because of the same earmarks.

McCain like most republicans likes to speak in simplistic, cut taxes and earmarks are bad speeches that have no basis in reality. Where Obama has an economic plan that is realistic detailed and cuts taxes for 90% of of Americans.

Real solutions not middle school phrases is what this country needs.

source:Bloomberg News

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