July 8th, 2008
09:50 AM ET
6 years ago

McCain: Spending is out of control

CNN 

Watch McCain's comments on CNN's American Morning.

(CNN) - Sen. John McCain on Tuesday brushed off skepticism from economists over his plan to balance the budget by 2013 by keeping taxes low and restraining spending.

"We're going to reach restrained spending, we're going to have the economy grow again and increase revenues. The problem is that spending got completely out of control," McCain said on CNN's American Morning.

McCain is in favor of extending President Bush’s tax cuts, which are set to expire in 2010. The Center on Budget and Policy Priorities has projected that by extending those tax cuts, which McCain originally opposed, and adding in the additional cuts the presumptive Republican nominee has proposed, the deficit for 2013 would be somewhere around $439 billion to $445 billion.

Watch: McCain talks the economy

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Filed under: Candidate Barack Obama • John McCain
soundoff (235 Responses)
  1. Ian

    Both of these candidates are losers. McCain will continue to overspend in Iraq and Obama will overspend with healthcare. Which one of these candidates is going to address the looming social security bubble? If you thought the housing bubble was bad...

    July 8, 2008 12:12 pm at 12:12 pm |
  2. Veteran in Kansas

    Yes spending is out of control and has been for 8 years. Tax and spend Democrates, what about cut taxes and continue to spend Republicans. Seems to me last time spending was under control was under Clinton.

    July 8, 2008 12:13 pm at 12:13 pm |
  3. Dr.Mimi De La Cruz

    I DON'T THINK GERIATRIC BUSH CAN EVEN ADD, LET ALONE

    CONFIGURE, PROCESS OR IMPLEMENT ANY POLICY OTHER

    THAN WAR. HE & HIS COMRADES AT ARMS KNOW ONLY ONE

    THING, WAR, WHICH IS VERY GOOD FOR THEIR ECONOMY &

    DEVASTATING TO OURS. WAR HAS MADE THEM FILTHY RICH.

    July 8, 2008 12:13 pm at 12:13 pm |
  4. Bob Indianapolis, IN

    Oh and cutting taxes for the rich during a time of warfare, GREAT IDEA! Same deal with no-bid contracts for all the little war profiteers who are ace buddies with Dumbya and Shotgun Dick...

    July 8, 2008 12:15 pm at 12:15 pm |
  5. Ian

    Ron Paul was the only candidate who would actually return a portion of the money alloted to his district every year. Talk about balancing a budget. Name one other candidate who's done that.

    July 8, 2008 12:16 pm at 12:16 pm |
  6. EPOP

    The Center on Budget and Policy Priorities has projected that by extending the cuts, which McCain originally opposed, and including the additional cuts McCain has proposed, the deficit for 2013 would be somewhere around $439 billion to $445 billion.

    FLIP FLOPPER!

    July 8, 2008 12:17 pm at 12:17 pm |
  7. Billy in NYC

    I would like to share a few reasons why Barack Hussein Obama will be the best president that the USA has had in a long time:
    He is actually very smart.
    He worked his way up from the bottom all on his own merit.
    Since he was once poor he understands poverty(not just by reading a book or shaking a hand like Bush/McCain).
    He is young and knows what an Email is!
    He is charismatic and will inspire all minds young and old.
    Go Obama 2008/2012!

    July 8, 2008 12:17 pm at 12:17 pm |
  8. Tim from Dallas

    We have, in the words of one economist, had 7 years of clinical experimentation with Supply Side Economics.

    How do you like the results? We are in hock up to our eyeballs to countries in the Middle East and to China. The dollar is tumbling to new depths.

    But Supply side economics will create new jobs, with better income!?

    Not so much. There has been net negative job growth during the Bush administration, and real wages have dropped precipitously. The average American-that is, those not in the top percentile of wealth-has seen their quality of life slowly erode over the last seven years. And of course, to cover themselves because they seemed to know what was coming, W and his "advisors" ensured that the rules for bankruptcy were tightened down.

    After the last 7 years of gross mismanagement, why would you want more of the same? If you were a stockholder in a company run the way this country has been, by a "businessman" no less, you would have been SCREAMING for his removal for years!

    July 8, 2008 12:18 pm at 12:18 pm |
  9. Sue in MI

    MDB,
    You can call it Marxism if you like, but I'll take Obama over the Bush Fascism any day! At least I won't have to worry about my emails being monitored illegally, or being thrown into prison with no lawyer, no charges, and no contact with my family, and undergoing illegal tortures. You know how illegal THIS administration has been? Enough that they should all be in jail! The only thing the Dems did wrong two years ago was allowing Pelosi to become Speaker and ignore the crimes...they should be impeached at least! And you can't convince me that all was well until then anyway. We sold a house in 2004, and the market was in a slowdown then, and unemployment was getting higher. Easy to blame the Democrats for Bush's mistakes and crimes-I'm not buying it. The borrowing of billions for his war is what has hurt the dollar and everything else-we are in debt to CHINA up to the eyeballs, and that is not the Dems' doing.

    July 8, 2008 12:19 pm at 12:19 pm |
  10. God Bless America

    THANKS, "TYPICAL WHITE PERSON" I'M GOING TO MAKE A DONATION TO OBAMA !!!!!!!!!

    July 8, 2008 12:21 pm at 12:21 pm |
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