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.
2 comments:
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.
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?
Post a Comment