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McCain Vows to Balance the Budget

Social Security reform one scenario; Dems call plan unrealistic

By Kevin Spak, Newser Staff

Posted Jul 7, 2008 1:44 PM CDT

(Newser) – John McCain will pledge to balance the budget by the end of his first term, Politico reports, promising spending and entitlement programs, including Social Security, in a policy paper released today. McCain is renewing a promise he’d backed off from in April—a vow likely to excite his fellow Republicans, but already drawing Democrat derision.

McCain is also counting on “savings from victory in Iraq and Afghanistan,” wars which, he notes, were paid for by deficit spending. Barack Obama’s economy guru called McCain’s pledge “preposterous,” saying McCain would have to cut 81% of Medicare or 78% of all non-defense spending to cover the projected $443 billion deficit if he sticks to his pledge to renew the Bush tax cuts.

Republican presidential candidate, Sen. John McCain, R-Ariz., boards his campaign jet in to depart Mexico City, Thursday, July 3, 2008. (AP Photo/LM Otero)

John McCain and staff reach for a microphone during a media availability after touring Mexican Federal Police headquarters in the Ixtapala section of Mexico City, Thursday, July 3, 2008. (AP Photo/LM Otero)

In this April 29, 2008, file photo Republican presidential candidate Sen. John McCain, of Ariz., right, talks to doctors, nurses, scientists and health care workers in Tampa, Fla. (AP Photo/Steve Nesius, File)

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McCain Vows to Balance the Budget

Social Security reform one scenario; Dems call plan unrealistic

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McCain Outlines More Specific Fiscal Stance

Candidate looks to cut taxes, project fiscal responsibility

Dems to Offer GOP Another $20B in Spending Cuts

...bringing total to $30B, which may not satisfy Republicans

One-Third of US Wages? Government Handouts

Social welfare benefits make up 35% of wages and salaries

America's Young Should Be Mad, Too

Our leaders aren't focused on investing in the future

Old People Rule America

Budget shows that AARP has all the power

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McCain Vows to Balance the Budget

Social Security reform one scenario; Dems call plan unrealistic

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OTHER STORIES ON OUR RADAR

John McCain • entitlement programs • Medicare • budget • spending • Social Security • McCain 2008 • balanced budget • economy

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

McCain Outlines More Specific Fiscal Stance

Candidate looks to cut taxes, project fiscal responsibility

Dems to Offer GOP Another $20B in Spending Cuts

...bringing total to $30B, which may not satisfy Republicans

One-Third of US Wages? Government Handouts

Social welfare benefits make up 35% of wages and salaries

America's Young Should Be Mad, Too

Our leaders aren't focused on investing in the future

Old People Rule America

Budget shows that AARP has all the power

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?