McCain promises to balance budget

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.

The vow to take on Social Security puts McCain in a political danger zone that thwarted President Bush after he named it the top domestic priority of his second term.

McCain is making the pledge at the beginning of a week when both presidential candidates plan to devote their events to the economy, the top issue in poll after poll as voters struggle to keep their jobs and fill their gas tanks.

“In the long-term, the only way to keep the budget balanced is successful reform of the large spending pressures in Social Security, Medicare, and Medicaid,” the McCain campaign says in a policy paper to be released Monday.

“The McCain administration would reserve all savings from victory in the Iraq and Afghanistan operations in the fight against Islamic extremists for reducing the deficit. Since all their costs were financed with deficit spending, all their savings must go to deficit reduction.”

The pledge is a return to an earlier position he'd later backed away from. On April 15, McCain backed off a February pledge to balance the budget in his first term when asked about it by Michael Cooper of  The New York Times, who reported that McCain said “at a news conference … that ‘economic conditions are reversed’ and that he would have a balanced budget within eight years.”

While I have no illusion that politicians will keep their campaign promises, this plan is pretty specific, and I can agree on a lot of the points that he puts out.  For example, cutting spending.  Barack Obama talks about increasing taxes on the wealthy, oil companies profits, and reducing the tax burden on poorer Americans.

Simply put, that won't work.  Of course, some of John McCain's ideas won't work either, but I tend to trust a guy who's made it a point not to ask for a single dollar in earmarks when he's been a Senator, rather than a guy who asked for $100 million dollars for his wife's employer.

Some of the things I agree with:

--“Reasonable economic growth. Growth is an imperative – historically the greatest success in reducing deficits (late 1980s; late 1990s) took place in the context of economic growth.”
--“Comprehensive spending controls. Bringing the budget to balance will require across-the-board scrutiny of spending and making tough choices on new spending proposals.”
--“Bi-partisanship in budget efforts. Much as the late 1990s witnessed bipartisan efforts to put the fiscal house in order, bi-partisan efforts will be the key to undoing the recent spending binge.”

John McCain's been able to work with Democrats, sometimes to the chagrin of Republicans, and get things done.  Spending simply MUST be reigned in, or things will only get worse.

In other words, programs that are costing too much money, such as welfare, need to be overhauled, or eliminated all together.  Personally, I'd like to see all welfare recipients who can work, work for the government for their benefits.  I don't care if they sweep up in government buildings, it's a job that needs to be done, and should be done by people who are getting money from hard working taxpayers such as myself.

Competitive contract bidding.  This "no bid" contract bullshit needs to stop.  Unless the company involved provides a unique service, I fail to see why companies can't compete for government contracts.

Lobbyists for companies such as some that I've spoken about in the past are then strictly forbidden.

Earmarks are reduced or eliminated all together.  Simply put, when politicians are asking for $50,000 to investigate the feasibility of a mule museum, you know that's a waste of your tax dollars of the highest order.

Now, that's not to say that McCain's plans are without problems.

“John McCain believes we should institute a summer gas tax holiday. Hard-working American families are suffering from higher gasoline prices. John McCain called on Congress to suspend the 18.4 cent federal gas tax and 24.4 cent diesel tax from Memorial Day to Labor Day.”

So, the government loses revenue for rebuilding and maintaining our road and bridge infrastructure, and you and I see gas go from $4.25 to $4.07?  Please, if gas is hurting you THAT bad that you can't afford 18.4 cents per gallon, you have bigger problems on your hands then gas.

It's a cheap political stunt that's only designed to get voters to take their eye off the ball.  The bridge collapse in Minnesota is a prime example of why the gas tax needs to stay.  Our infrastructure is in need of repair, and unless you have a better way of paying for it, the gas "tax holiday" isn't going to work.

And what has Obama promised us?  Increasing taxes on the wealthy (like they won't move their wealth offshore), a "windfall tax" on oil companies profits (guess how they'll offset those costs)?, and earmarks for his wife's employer (if he can't be trusted to balance the budget when he's a Senator, how do you suppose you'll trust him if he's President?)

 

Simply put, John McCain may not be the best guy for the job in many areas, Obama as well, but in this area, there's simply NO comparison.  McCain's your man.

 

Travis

travis@rightwinglunatic.com