The Washington Times
  • Subscribe
  • Times News Services
  • RSS
  • Mobile Headlines
  • e-edition
  • E-MAIL ALERTS
  • REGISTER
  • LOG IN
  • E-MAIL ALERTS
  • WELCOME
  • Your Profile
  • Log Out


  • Front Page Image
  • Classifieds
  • Autos
  • Real Estate
  • Jobs
  • Special Sections
  • Customer Service
  • Home
  • News
    • World
    • National
    • Politics
    • National Security
    • DC Area
    • Business
    • Entertainment
    • Technology
    • Investigations
    • Faith
    • Energy
    • Environment
    • Headlines
    • Citizen Journalism
  • Opinion
  • Sports
    • NFL
    • NBA/WNBA
    • MLB
    • NHL
    • Tennis
    • Golf
    • Motorsports
    • Soccer
    • NCAA
    • Olympics
    • Outdoors
    • Other
  • Culture
    • Home & Living
    • Family & Kids
    • Fashion
    • Food
    • Travel
    • Health
    • Washington Visitors
    • Books
    • Military History
    • Life
    • Auto
    • TV Listings
    • Movie Listings
    • Death Notices
    • Entertainment
  • Themes
  • Communities
  • Shopping
    • Stores
    • Coupons
    • Daily Double
    • Promotion
    • How It Works
  • Videos
    • Two Guys
    • Birnbaum on Washington
    • Liz Glover
    • Amanda Carpenter
    • Morning Briefing
    • Documentaries
    • Joe Giganti
    • Video Game Minute
  • Podcasts
    • About Headlines
    • Audio and Radio
    • America's Morning News
  • TWT BLOGS: Latest
  • Staff blogs
  • Create a blog

Obama leaves a bigger deficit

By Stephen Dinan on Oct. 6, 2008 into Trail Times

  • Subscribe

By 2013 Barack Obama would outspend John McCain by at least $27 billion and as much as $119 billion, according to a new analysis of their tax and spending proposals.

McCain would cut taxes more than Obama, but would make deeper spending cuts, too, leaving him less in the red, according to the Committee for a Responsible Federal Budget, headed by a former top Clinton administration official and former Republican congressman.

The projected deficit for 2013 is already $147 billion, so both men would leave the country in poor fiscal shape.

The most surprising thing about the analysis is how close the candidates' proposals are by 2013: McCain's gradual reduction of troops in Iraq ends up saving nearly as much as Obama's faster pullout, and Obama's increased taxes on high-income families only saves $48 billion that year.

Broken down by broad category, the group said McCain's tax cuts — including renewing most of the Bush tax cuts — would subtract between $417 billion and $485 billion from government revenues, his health care plan would subtract another $54 billion to $65 billion, but his other spending cuts and proposals figure to save $291 billion to $304 billion. Coupled with the $147 billion baseline deficit, he would leave the country between $314 and $406 in the red.

Obama, meanwhile, who has also promised to renew many Bush tax cuts, would subtract $360 billion in revenue, would cost another $65 billion for his health care plan, and would save just $139 billion with his new spending cuts. His plans would leave the country with a deficit of $433 billion in 2013.

— Stephen Dinan, national political correspondent, The Washington Times

  • Bookmark and Share
  • Comment

There are 10 Comments

GlobalEye

But would he TRIPLE the National Debt, like Reagan did? Would he set record highs like Bush 41 and Bush 43??
Mark as offensive

Pendamon

He would lead us into a full-blown DEPRESSION. That about tells you all you need to know.
Mark as offensive

SteelMagnolia

Obama has promised, from east coast to the west coast, everything to everybody just to get their vote. I'm appalled that he gets a free pass on his spending proposals! Where is the money going to come from to pay for all that? Here in California we're suffering because of the democratic legislative bodies that control everything, California is the world's 7th largest economy and look at how broke we are over here. If Obama wins, the democrats will control the house, the senate and the presidency: a bad combination for the future of our country.
Mark as offensive

flexfamily

GlobalEye...when do you get your stats? Reagan was the best thing that happened for our economy. He managed to pull us out of the hole Carter dumped us into. Obama is promising everything but will not deliver. We are stupid to vote for him!
Mark as offensive

flexfamily

Thanks for giving us this report. It helps. Hope others pick up on this one!
Mark as offensive

TeamFinland

$406 instead of $433 is still DEPRESSION. That doesnt tell you all you need to know.
Mark as offensive

friendlygoldens

Hey Dinan, How the hell do you know Obama will spend more than McCain? McCain hasn't offered any program details. The record over the past 40 years shows the complete opposite to what you and other tree hugging Republicans attempt to assert - the Dems are the one's who balance the budget and who actually spend less. The facts of the past don't lie. I think there's a much better chance that Obama will spend less than McCain - because he won't rescue the Fat cats the way the Republicans always do. He also won't waste billions and billions the way Bush has - and McCain supports most of the Bush programs. Its time for a change - and it's time for the Democrats to fix the fiscal books that the Republicans have left in such horrible shape. Republicans are RED - as in Red Ink.
Mark as offensive

osama_angry

Mr. McCain is letting on that he will cut Medicare and Medicaid by up to 1.3 trillion bucks over ten years in order to fund his healthcare tax credit. Today's WSJ: http://online.wsj.com/article/SB122315505846605217.html?mod=special_page_campaign2008_mostpop Good bye Florida.
Mark as offensive

SouthPrairieDeb

Republicans have lost their fiscally conservative firebrand. They have no crediblity. This is the consequence of selecting immoral leadership. The Republican leadership is revealing themselves for who they are—mean spirited haters. They do not care about unity bridges between opposing views. They care about power. They see my beloved country as something to be sucked dry. Look at the facts: Republicans have: *eroded our Constitutional freedoms *politicized the judicial system *politicized the Federal Emergency Management System *politicized the Justice Department *begun a war of choice that enriched their buddies: Halliburton/KBR & Blackwater *increased belligerence throughout our land by endorsing and inciting torture *deregulated the safeguards of our economy to the extent that the Dow is in a free fall and our retirement investments are evaporating *plunged us in to a national debt that is formidable, virtually selling our country to China *limited product safeguards that would protect our children from lead poisoning THE CURRENT REPUBLICAN LEADERSHIP IS CORRUPT. THEY ARE MEAN MEN WHO WILL STOP AT NOTHING TO GRAB POWER AND THAT IS ALL THEY SEE IN OUR BELOVED COUNTRY—POWER! Haters do not see the lovely hillsides laced with fog in the fresh morning air. They do not comprehend the necessity of leaving national treasures for our youth. Haters do not view we the people as their employers, they view us as an annoyance to be deceived and manipulated. You know, just like Bush said, “It’d be a lot easier if this were a dictatorship.” THEY THINK WE ARE IDIOTS. And their telling selection of Sarah Palin who simply throws out unimaginative slogans that incite hatred and violence. Palin, who is married to a man who believes Alaska should secede from our nation. Palin who is surrounded by handlers and who does not have an authentic bone in her public persona. Palin who sets competent women back centuries. Palin who is so heartless that she could not even take the time to tenderly acknowledge the horrid loss Biden endured. Palin who is so set on her talking points that she has lost her humanity. We’re not idiots and we will not vote for these horrid power mongers. Not only that, we will fight for our country. WE ARE FIGHTING BACK!! FOR THE LOVE OF AMERICA WE ARE FIGHTING BACK! Your fear smear will not work.
Mark as offensive

katiesmom

http://www.usbudgetwatch.org/ This will show you the proof that you are looking for. Non partisan budgetary spending breakdown, showing that Obama intends to outspend McCain. You can download the PDF form "New Report: A Fiscal Voter Guide to the 2008 Election" for a breakdown.
Mark as offensive

Please login or register to post a comment

Advertising Links
TWT Store
  • e-edition
  • Print Edition
  • Weekly Washington Times
TWT Affiliates
  • Middle East Times
  • Golf
  • UPI
  • Arbor Ballroom
  • Washington Times Global
  • About TWT
  • Press Room
  • F.A.Q.
  • Work for TWT
  • Advertise
  • Sponsors
  • Contact Us
  • Privacy Policy
  • Site Map

All site contents © Copyright 2009 The Washington Times, LLC.