FROM CNN's Jack Cafferty:
Cutting taxes and stimulating the economy are more important than balancing the budget according to John McCain.
The presumptive Republican nominee is taking issue with the Democrats' suggestion that he's out of touch on the economy. McCain says he'll cut taxes even if it means running up more deficits. McCain thinks it's Hillary Clinton and Barack Obama who are out of touch since they want to raise taxes during a recession.
McCain says his economic plan is solid, based on extending President Bush's tax cuts – the tax cuts McCain opposed until he got the nomination. Now all of a sudden he thinks they're terrific. He thinks federal spending is the problem and pledges to "scrub" every government agency of wasteful spending. Where have we heard that before?
John McCain is also backing off from his promise to balance the budget by the end of his first term. Flip flop – just like with the Bush tax cuts. Now he says it may take two terms. And by then it will be somebody else's problem.
Today's Wall Street Journal reports that McCain's proposed $650 billion in tax cuts per year – mostly for corporations and upper-income families – would either make the federal deficit "explode" or require unprecedented spending cuts equal to one-third of all federal spending on domestic programs.
One expert says the chances of McCain cutting spending by that much are "nonexistent." In fact, a study of federal spending going back to 1976 shows there's never been a cut in domestic spending as large as what McCain is proposing.
Here’s my question to you: Do you agree with John McCain that cutting taxes is more important than balancing the budget?
Interested to know which ones made it on air?
Tom from Florida writes:
Balance the darn budget! All of us have to and the Feds should also. Regardless, he can't cut taxes because there just is no money because of the war. If he wants the damn war he needs to be a man, tell the truth, and pay for it by raising taxes. But he will not say this because he's just like all the rest. So much for straight talk!
Keith from Twinsburg, Ohio writes:
Jack, McCain has it backwards (just like the current administration). Why don't we try something new? For each new expense, provide a means by which it is financed. Pay as you go. Novel idea, no? These "tax cutting headlines" are just that, headlines. The next two generations will never be able to payoff this last 8 years. We should be ashamed of ourselves.
Keith from Irving, Texas writes:
There's only one thing I agree with John McCain on: The economy IS not his strong suit.
Paul from Toronto writes:
A recession is no time to be frugal. The only escape is cut taxes, cut taxes, cut taxes and let the people spend, spend, spend. The U.S. consumer will once again have to get the economy going and save the country.
Adam from Austin, Texas writes:
Jack, I'm 21 years old and I'm going to graduate from college in less than two weeks. I don't like that McCain is going to put this problem on my generation. Giving even more tax cuts now means more taxes for the next generation later; responsible parents don't steal from their children.
Kathy from Georgia writes:
Jack, We all know that McCain is old school. The only time that old school is relevant is in morals and music.