10/15/2004

Presidential Candidates Avoiding the Deficit

With the presidential debates lately, the candidates are afraid to talk about how they will tackle the deficit. Both have plans in mind but do not want to share them. They are too afraid of what the other candidate will say about it and ruin their campaign. But in an article on MSNBC it talks about what both candidates want to do and it is amazing how they are almost identical.

Senator Kerry wants to increase taxes on the wealthiest 2 percent of Americans and offer new tax credits to help students pay for college. While this may sound good he would like to implement new programs such as health insurance coverage for lower income Americans and a trust fund to improve public education. These programs would add $1.27 trillion in additional cumulative deficit spending which is on top of the $2.29 trillion that is currently already being spent. Bush on the other hand has proposed programs but his main focus is tax cuts. But Bush's idea would add $1.33 trillion in deficits.

Both wanted to cut the deficit in half but with the way they want to run things it doesn't look like they will be doing that any time soon.

4 comments:

John West said...

Having a reasonable deficit is not a bad thing for the country, but there should be a plan in place to make a dent into what it has risen to. Both candidates have made lots of promises and it will be interesting to see which one gets elected. This next month is one most important ever for this country and its future.

Bryce Larkin said...

I really do not understand why the politicians keep spending more and more money. Actually I have one idea; they want to be elected for president. If a candidate said, he would not spend money on different programs because he wants to get rid of the debt, no one would vote. People want their programs. I understand some programs are great, but if we don't have the money don't spend it. I believe the problem begins with us, if people want no debt, the politicians would do it.

Maudi said...

It seems as thought the deficit is always an issue, but no one has ever really seemed to solve it. It is interesting to see how both had planned the almost same thing, & funny that Bush's plan it more expensive the Kerry's. I am all for a tax cut. That would make it very nice on those of us who feel like the majority of paychecks seem to go straigt to taxes.

Dr. Tufte said...

In macro I like to tell people to worry about the deficit a lot less.

The micro point of all this is that the candidates plans are very close to each other. Do you think this might have something to do with why they are so close in the polls?