John McCain was quoted by the Boston Globe as saying that economics is not his strong point. His economic proposals echo his self-admitted shortcomings. McCain says he will - extend Bush's tax cuts forever (a huge flip-flop, given McCain's strong opposition to the cuts in 2001). - extend the Iraq War forever - eliminate the Alternative Minimum Tax This is nothing short of a recipe for fiscal disaster. With huge budget deficits already in place now, it doesn't make sense to increase spending (the war) while decreasing revenues further. This will cause deficits to balloon and put pressure on an already wounded dollar. McCain seems to have bought into the popular Republican fairy tale that tax cuts are stimulative. They can be, but only when taxes are too high. When cutting taxes too low the positives are outweighed by the negatives caused by excessive government indebtedness. One U.S. Dollar now only fetches 0.65 Euros. If McCain is elected then we're looking at the Euro going for $2 or more.