McCain Will Bankrupt the United States

Discussion in 'Politics & Religion' started by jamis359, Mar 21, 2008.

  1. 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.
  2. TraderC


    Who cares! This nation is already bankrupt.

    Might as well go to the max before the credit line is cut. :D
  3. LOL ... hmm, the nation will be bankrupt but the wealthy, who get most of the tax relief, won't be. Middle class smaller, government defaulted, rich are richer ... ah, I see the Grand Plan now :)
  4. The good thing is does he honestly have a chance this November?
  5. It's not a revenue problem, it's a spending problem.

    The rich pay a much higher dollar value and volume vs the lower middle/poor.
    It's the 80/20 rule. I;m working on getting into the 20%, you should be to.
  6. These are the only ways he can get idiots to vote for him but they don't realize someone has to pay the piper soon.
  7. Latest poll I have seen says yes, he can beat Hillary or Obama.
  8. Paliz


    hahahahah hahahahahh ahahahahhhhaahahahahahhhahahha

    morons that voted for Bush might vote for him, I think Americans have realized how the last 8 years have screwed up their lives, and would just like not to make the same mistake
  9. >McCain Will Bankrupt the United States<

    Not with Mitt Romney as VP.
  10. ryank


    This is the real problem. Congress is tripping over each other trying to spend money as fast as they can (can you say earmark? It used to be called pork barrel spending). Bush has allowed Congress to go wild with spending and now presidential candidates want to take more money from the people so the government can increase spending even more.
    #10     Mar 21, 2008