McCain: I'll Cut Deficits Like Reagan

Discussion in 'Politics & Religion' started by hermit, Mar 3, 2010.

  1. When Senator John McCain was asked here this afternoon how he plans to balance the budget, he said that he hoped to do so by stimulating economic growth – and approvingly cited the example of President Ronald Reagan.

    There was one thing he did not mention during his response: the deficit nearly tripled during the Reagan presidency, partly due to tax cuts and increases in military spending.

    The exchange occurred at a town-hall-style meeting held in a tent outside Bridgewater Associates, an investment firm. A member of the audience stood up and asked Mr. McCain, who has called for balanced budgets, how he plans to do it.

    “Basically, which is it?” the man asked Mr. McCain. “Straight talk: Do you want to raise taxes, cut entitlement spending, cut defense spending, or have a deficit?”

    Mr. McCain did not explain how he plans to balance the budget, but spoke generally about hoping to stimulate the economy – and cited President Reagan.

    “I don’t believe in a static economy,’’ Mr. McCain said. “I believe that when there’s stimulus for growth, when there’s opportunity, when people keep more of their money — and the government is the least efficient way to spend your money — that economies improve.’’

    “When Ronald Reagan came to office,’’ he said, noting that few in the audience were old enough to remember, “we had 10 percent unemployment, 20 percent interest rates, and 10 percent inflation, if I’ve got those numbers right. That was when Ronald Reagan came to office in 1980. And so what did we do? We didn’t raise taxes, and we didn’t cut entitlements. What we did was we cut taxes and we put in governmental reductions in regulations, stimulus to the economy, and by the way, Jack Kennedy also did that as well – and so my answer to it is a growing economy. And I think you best grow the economy by the most efficient use of the tax dollar.’’

    Mr. McCain – who has said that he wants to balance the budget while making the Bush tax cuts permanent, cutting additional taxes, and keeping troops in Iraq – said: “I believe we can grow this economy, and reduce this deficit.’’
  2. Lethn


    Oh look, he's planning the same.

    PR Translation for underlined text: I'm going to pump billions of dollars into the economy and inflate the currency just like the two previous presidents did.
  3. Haven't you heard, its only wrong when Obama does it. :p
  4. Lethn


    Sad truth, it's extremely sad seeing how brainwashed people are. We're going under the exact same thing in the UK.
  5. Just bring back Bubba, Blast from the past:


    ...But Senator Pete V. Domenici of New Mexico, the top Republican on the Budget Committee, said the increased taxes in the program would devastate the economy.

    In the House Thursday, every Republican voted against the economic plan, and all Republican senators had announced their opposition before the Senate debate began.

    Phil Gramm of Texas, who may run for the Republican Presidential nomination in 1996, declared: "I believe this program is going to make the economy weak. I believe hundreds of thousands of people are going to lose their jobs. I believe Bill Clinton will be one of those people."


    Ya can't cure stupid. Why is McCain still relevant?
  6. Because he should of been President instead of Obama.

    And anyone with a brain realizes that.
  7. Maybe Mccain would've done the same things as Obama. We cant know for sure. But at least McCain wouldnt have been an embarrassment to us. No way McCain would've bowed to other world leaders, or all of a sudden decided for the entire country that we are no longer a Christian Nation, even though we have been since inception.
  8. owusu


    Another cerebral lightweight, GOP/Limbaugh cool aid drinking ultra right wing idiot.
  9. mccain is senile:

    Republicans love hallowing Ronald Reagan’s name. Too bad they know so little about the guy.

    Last week in Hawaii, the Republican National Committee almost passed a resolution named after the Gipper. “Whereas President Ronald Reagan believed that the Republican Party should support and espouse conservative principles and public policies,” it declared, only candidates who complied with eight of 10 “Reaganite” principles would be eligible for party funds.
    And what were those principles, exactly? No. 1—according to the resolution—was “smaller government, smaller national debt, lower deficits and lower taxes.” Let’s take those from the top. Smaller government: Federal employment grew by 61,000 during Reagan’s presidency—in part because Reagan created a whole new cabinet department, the department of veterans affairs. (Under Bill Clinton, by contrast, federal employment dropped by 373,000). Smaller deficits and debt: Both nearly tripled on Reagan’s watch. Lower taxes: Although Reagan muscled through a major tax cut in 1981, he followed up by raising taxes in 1982, 1983, 1984 and 1986. In 1983, in fact, he not only raised payroll taxes; he raised them to pay for Social Security and Medicare. Let’s put this in language today’s tea-baggers can understand: Reagan raised taxes to pay for government-run health care.
  10. owusu


    Republicans are usually too busy memorizing talking points to analyze policies.
    #10     Mar 3, 2010