McCain not only wants to renew Bush's tax cuts, but wants to add another $300 Billion. He says he can eliminate the deficit by cutting discretionary spending, pork, and waste. The tax cuts will, he says, bring in more revenue.
Unfortunately, every Rep president has said the same thing, and the deficits under them continue to grow.
When a Republican fires up a scary number it always ends with a fat-cat accusation, but when a Dem does it it's implied that the sense is either responsible and/or in the interest of commuting it to save the universe. To my mind both parties are full of ****, but that's neither here nor there - problem is you're using a scary number for dramatic effect in a context to which its inapplicable. I mean, what, are taxes written in stone? Tax more, tax less, I'm not a huge fan of corporate welfare at the federal level, but they always end up taking something. Rather they didn't screw with it and give it back, but Posse Comitatus are too crazy for me, short of voting Libertarian I'm out of moves.
Anyway, what we're really talking about betwixt, spending, and the deficit, regardless of what scary number you've got a reference for (like, to say, what can you buy for the deficit?), is we've got what folk make, what folk consume and what the G consumes. One way or the other the first two are related, and for the economy to get on quite swimmingly they've got to stay linked-up and increase. So, 300 billion, 2 trillion, I'd rather have it as a percent of their take but anyway add to consumption and production will to some extent follow - the only reason not to open the throttle all the way is strain on the link - inflation. The Liberal argument for taxing folk is if the G consumes there's no inflation, and everyone stil gets what they need, but they break the link in a different way, folk drive things they didn't bring home the bacon for, and the incentive ends up being purely for non-essentials, which I mean, if we must reduce ourselves to kids in a toystore whats the point. McCain's thing, to my mind, is to choke back what the G consumes, maybe pay of some debt to strengthen the coin-of-the-realm (not half as cool as Ron Paul's method...) then use that link to let people power the economy.
If I had my druthers everyone would do for themselves or not and keep most of what they make. With growing interest in Libertarianism and agriculture being big news again after 90-years - we can make it, we can last till our currency becomes the sovereign standard again. In the meantime...
Our investment in ourselves continues to grow, only thing is we just gotta make sure we ain't bluffing. I mean, you want to make it something it ain't but when will it come back to bite us? When we can't produce to feed it and the other nations pull-confidence. If we lose our **** and they turn on us it'll be a new day anyway, I say we keep doing our thing, get built up as far as we can go, give them a reason to worry about that day too, rather than piss our pants and lose it like chumps.