McCain Adviser Flip Flops: Promises To Balance Budget By The End Of First Term…Or Maybe Second Term
McCain Adviser Flip Flops: Promises To Balance Budget By The End Of First Term…Or Maybe Second Term
Yesterday, Sen. John McCain (R-AZ) pledged to balance the federal budget by 2013. “John McCain will balance the budget by the end of his first term,” a McCain economic plan stated. Top economic adviser Douglas Holtz-Eakin confirmed these plans yesterday to the New York Times, stating that McCain’s “plan is to balance the budget by the end of his first term in 2013.”
But on the same day, Holtz-Eakin flip-flopped on this pledge, lowering the bar for McCain by stating that the senator “has always” pledged to balance the budget by the end of his second term. Bloomberg reports:
McCain senior economic adviser Douglas Holtz-Eakin repeated the 2013 goal in a conference call before McCain’s speech today. After the speech, Holtz-Eakin said: “The senator has always pledged to balance the budget by the end of his second term.” A McCain second term would end in 2017.
Holtz-Eakin’s second-term “pledge” is the latest in an increasingly confused economic message. In April, McCain backed off a February pledge to balance the budget in his first term. The New York Times reported that McCain said “at a news conference … that ‘economic conditions are reversed’ and that he would have a balanced budget within eight years.”
This morning on CNN, in a testy exchange with John Roberts on whether his numbers add up, McCain declared, “We’ll balance the budget.” McCain did not, however, give a specific year for balancing the budget. Watch it:
In the interview, McCain repeatedly said he would balance the budget through cutting spending: “And that’s our problem today is spending and not keeping taxes low.” But yesterday, McCain adviser Meg Whitman said that the tax cuts “are not contingent” on reducing spending.
It seems that muddying the waters is also a key part of the McCain economic plan.
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Gee…it took them less than a day to flip flop on this. Yet the major networks will not dare report on this.
July 8th, 2008 at 2:16 pm“McCain Adviser Flip Flops: Promises To Balance Budget By The End Of First Term…Or Maybe Second Term”
…Or when pigs fly.
July 8th, 2008 at 2:18 pmTrippleKick Says:
A flip-flop is a reversal, this is not a reversal.
July 8th, 2008 at 2:18 pm Recommend (0) | Report Abuse
Yesterday, he said the budget WILL be balanced by the end of “his” first term.
FLIP
Today he says that it WILL NOT.
FLOP
July 8th, 2008 at 2:20 pmAbsolutely, completely Unbelievable. Well I, for one, will bless the Liberal Mainstream Media for being the dedicated watchdogs of our American Liberties by bringing up all McInsane’s lunacies the way they…, what? They Didn’t? Oh well, so much for Thomas Jefferson’s saying: “Our liberty cannot be guarded but by the freedom of the press, nor that
July 8th, 2008 at 2:21 pmbe limited without danger of losing it.” Way to go MSM, roll over, play dead. Good doggie.
Impeach Pelosi, Cheney and Bush and Save the Constitution!
OK, Tripplekick, it’s not a flip flop? Well, it was a total BS comment from the get go.
July 8th, 2008 at 2:22 pmNo one is going to balance the budget for many, many years. War Criminal Bush and republics have messed up the country so much that it just might not be repairable.
We can try to fix it, but with the mess that is going to be left for Obama to fix he is sure to have his hands full to overflowing.
And of course this is all planned, it will keep Obama from having time to dedicate to the prosecution of Bush/Cheney’s crimes.
July 8th, 2008 at 2:24 pm“It seems that muddying the waters is also a key part of the McCain economic plan.”
Sounds more like Bush’s method of shitting in the water supply…then blaming it on the do-nothing Congress.
July 8th, 2008 at 2:25 pm.
A
T E N
T R I L L I O N
D O L L A R
D E F I C I T
… cannot be made up overnight or in one term.
.
July 8th, 2008 at 2:26 pmMaybe McCain will balance the budget in 100 years. Maybe.
July 8th, 2008 at 2:26 pmMcNumbNuts is apparently living in BushWorld — that is, a total and complete fantasy place.
His balance-the-budget claim is way out there in LaLaLand. It is almost as unbelievable as the notion that he will have a “second term”, let alone a “first term”.
He needs to have his medications adjusted.
July 8th, 2008 at 2:26 pmAnd I heard McCain is planning to balance the budget by cutting taxes for the rich. It’s an exciting and novel idea. You see, if you cut taxes for the super-wealthy, they will invest their tax cuts into factories in the US and create lots of new, good paying jobs in the manufacturing sector. The result will be an economy in which all boats rise and the higher revenues from the manufacturing sector will balance the budget.
BRILLIANT!
July 8th, 2008 at 2:26 pmTrippy’s on those meds again…
July 8th, 2008 at 2:27 pmTotally off topic alert:
Asking all patriotic-constitution-loving-citizens to please go check out Glenn’s article here: http://www.salon.com/ opinion/ greenwald/ index.html?source=newsletter
Print out the ad and fax it to as many senators that you can TODAY! If they still pass this piece of $hit legislation, Let’s march on the capital!
July 8th, 2008 at 2:27 pmtrollsbwild Says:
OK, Tripplekick, it’s not a flip flop? Well, it was a total BS comment from the get go.
Because, McCain is a maverick. When he reverses his positions, he just just being a maverick by not going along with himself.
July 8th, 2008 at 2:29 pm#14 RRRW,
July 8th, 2008 at 2:30 pmI know…
Yet no progressive blog dare speak or lead the way…
WHY IS THIS…?
He’ll get that done just as soon as he puts a cap on the monkeys flying out of his butt.
July 8th, 2008 at 2:31 pmExplanation for all flip flops by McCain:
“As you may know that Joe Lieberman has been with us for sometime”
July 8th, 2008 at 2:31 pmHe won’t have the budget balanced by the end of his second term because it’s impossible to have a second term without a first term.
July 8th, 2008 at 2:32 pmMcCain = Flipper
It’s quite remarkable that spinmeisters can actually accomplish
reversing facts in the name of fact. Media cannot find a way to
call McCain on his BS, but will repeat anything said about Obama.
I want to see McCheeks blow a gasket on live TV. Maybe then the
media could find it within themselves to report accurately.
July 8th, 2008 at 2:35 pm“John McCain will balance the budget by the end of his first term,”–on the end of his lying nose.
July 8th, 2008 at 2:35 pmPodium Phobia?
McCain, reportedly, has a fear of podiums. Most are built for
‘average’ Americans, but, just like his temper, he’s short.
Maybe he could borrow a pair of Condi’s spikes?
July 8th, 2008 at 2:38 pmOr, he could just grow up…
“And that’s our problem today is spending and not keeping taxes low.”
Our problem is keeping taxes too low on the upper class and while we are spending to much, the problem is what we spend it on. The U.S. military budget exceeds that of all other countries combined. That’s not national security that’s imperialism and we’re all paying for it.
http://progressiveworldreview.com
July 8th, 2008 at 2:39 pmWhen will Nader balance the budget?
Oh, wait! He’ll NEVER be President, so he NEVER will.
July 8th, 2008 at 2:39 pm“Grandpappy McCain Adviser Flip Flops: Promises To Balance Budget By The End Of First Term…Or Maybe Second Term”
Gramps McCain’s prune juice must have been spiked again. What will the media say about Teflon John’s flip flopping episode?
*cricket* *cricket*
July 8th, 2008 at 2:41 pmjabberjaw said:
When is Obama going to balance the budget?
tick
tock
tick
tock
times up……… answer please?
N
E
V
E
R
It’s difficult to balance a budget when you’ve already wasted trillions of dollars you don’t have on an unnecessary war.
http://progressiveworldreview.com
July 8th, 2008 at 2:42 pmI am having doubts about the ability of McCain to balance the budget even by the end of his second term, making this particular kerfluffle a moot point. Look at Clinton — it took him several years (well into his second term) to put the brakes on the runaway debt buildup that went on during the Reagan and Bush41 presidencies.
http://www.cedarcomm.com/~stevelm1/usdebt.htm
And this was when Clinton was actually trying. He reversed the tax cuts that Reagan handed to the rich, he concentrated on stimulating the economy, and he didn’t make any stupid pre-emptive strikes on other countries.
McCain wants to make the Bush43 tax cuts permanent, he wants to cut taxes even more, he wants to stay in Iraq forever, and he wants to bomb Iran. This doesn’t sound like a recipe for a balanced budget.
July 8th, 2008 at 2:44 pmLittle Drummer Shark sez:
I have no thoughts to bring (pah-rum-pah-pah-PUM)
So I will be distracting (pah-rum-pah-pah-PUM)
LOOK! What’s Obama doing? (pah-rum-pah-pah-PUM)
Is this Progressive schtick still working? (Rum-pah-pah-pum…Rum-pah-pah-pum…Rum-pah-pah-PUM…)
No one said balancing the budget would be easy after Bush’s mess… correction, no one but McCain’s people.
July 8th, 2008 at 2:44 pmWhy do budget deficits decrease in Democratic admin’s and increase in Republican admin’s I wonder…
McCain advisor flip-flops!
No one could have predicted!
I’m trying out the Andy Kauffman Theory of Endless Repetition in Comedy Studies…so far, so good.
July 8th, 2008 at 2:45 pmHow can these people stand lying all the time? And, as many have said, why isn’t this big news, as all his flip-flops should be? McCain is the biggest flip-flopper ever in politics, pandering to whatever his audience is. Either that or he is totally mentally delusional. Neither are great characteristics of someone running for president.
July 8th, 2008 at 2:46 pmInteresting that Trippy puts more stock in McSame’s fantasy neoconomics than in Obama’s realism, and even though Bush took a record surplus to a record deficit in three short years, it will be Obama’s fault if he can’t reverse the damage that Republicans have wrought in their (successful) quest to enrich themselves and their cronies at the expense of the rest of us.
July 8th, 2008 at 2:47 pmbelac Says:
Why do budget deficits decrease in Democratic admin’s and increase in Republican admin’s I wonder…
Why has every recession, including three Great Depressions, since the Civil War, occurred during Republican administrations? I wonder…
July 8th, 2008 at 2:49 pmThey call him Flipper, Flopper, older than lightning,
No one you see, is as confused as he,
And we know Flipper, lives in a world full of wonder,
Embraced by the neocons and his friend Georgie!
The MSM loves the king of the grill,
Just watch his temper, if you will,
Tricks he will do when 527 ads appear,
And how they laugh while Obama is smeared!
They call him Flipper, Flopper, older than lightning,
July 8th, 2008 at 2:51 pmNo-one you see, is as contradicted as he,
And we know Flipper, lives in a world full of wonder,
Embraced by the neocons and his friend Georgie!
Paul W: “…the problem is what we spend it on. The U.S. military budget exceeds that of all other countries combined. That’s not national security that’s imperialism and we’re all paying for it.”
Indeed. Mccain recently boasted he could find $100 billion in savings “just like that”. Even ignoring the blindingly obvious savings to be realized from getting the hell out of Iraq I can think of a few military projects that could be axed right now without any detriment to the military or US national interests such as the ongoing development of portable nuclear warheads (fer christ’s sake!), the missile system that Condi is trying to get deployed in Poland and the Czech-Republic (that the general populations don’t want and that the Russians are pissed about)that is supposed to protect the US (somehow) from Iranian ICBM’s that don’t exist, the Active Denial System, another $4 billion nuclear attack sub, EVERY SINGLE CONTRACT WITH HALLIBURTON< KBR AND BLACKWATER and other mercenary companies, to name a few.
July 8th, 2008 at 2:53 pmMsJoanne has a post on TheZoo about McCain’s flip flopping, entitled “McCain’s 61 flips flops and counting.”
July 8th, 2008 at 2:54 pmJ-J… you are quite the optimist.
July 8th, 2008 at 2:55 pmHoltz-Eakin and Carly Fiorina may be wonderful children, loving parents, but they are lying like rugs and no one calls them out on their lies. They are claiming to cut even more taxes under McCain while balancing the budget. The miracle of waste, fraud, abuse, and ear-marks will manage to bring in billions and billions each year.
July 8th, 2008 at 2:56 pmnit-picking on this is frivolous, considering neither obama or mccain, from their own plans, are any more likely to balance the budget.
July 8th, 2008 at 2:56 pmExpanding upon the candidate’s economic plan, Douglas Hotz-Eakin further pledged that McCain will pay his delinquent real estate taxes by the end of his second term “unless he forgets again.”
July 8th, 2008 at 3:03 pmMcCants plan looks like a sure fire way to send us into a speedy depression with no sign of ending. Obama’s plan, although even he admits probably won’t cure the problem in two terms, should at least stop the slide and begin the recovery process. The knuckledraggers on the right would love to neutralize Obama on this most important of issues by pressing the point that he won’t balance the budget. I hardly think the difference between a looming depression coupled with learning to speak Chinese when they call us on our debt to Obama’s plan which would stave off further damage and in time reverse course towards bringing the budget within grasp is nit-picking. Then again, I’m not a paid troll.
July 8th, 2008 at 3:06 pmrozerze Says:
nit-picking on this is frivolous, considering neither obama or mccain, from their own plans, are any more likely to balance the budget.
Oh Yeah. Nit-picking is only allowed if you are a Republican.
Go nit-pick elsewhere.
July 8th, 2008 at 3:07 pm——————————————————————————–
Max-1 Says:
——————————————————————————–
#14 RRRW,
I know…
Yet no progressive blog dare speak or lead the way…
WHY IS THIS…?
I wish I knew… But Glenn Greenwald is doing one helluva job!
July 8th, 2008 at 3:11 pmrozerze Says:
nit-picking on this is frivolous, considering neither obama or mccain, from their own plans, are any more likely to balance the budget.
Probably the most salient and on point comment you have made so far. I agree. Discussing this with regards to timing the payoff of our debt is simply an academic excercise.
Obama has no idea what condition Bush will leave the nation, and McCain simply has no idea.
July 8th, 2008 at 3:11 pmWhen I Google “jabberjaw troll” I get 1,050 hits. Do you have a legitimate point?
July 8th, 2008 at 3:11 pmGoogling “jabberjaw sucks” gets 5,550 hits!
July 8th, 2008 at 3:14 pmJibberesh the Drummer Shark…
This notion that there is no real difference between the parties is so 2000… we’ve been down that road and it led to horrible things named Iraq, and Gitmo, and Alito…
This notion that you are a Progressive is also passe… time for a new schtick… and not just for my sake…
I think it was Vonnegut who cautioned, “We are what we pretend to be, so we must be careful what we pretend to be.”
July 8th, 2008 at 3:16 pmI’d be thrilled if you finally did become a real progressive, but you might lose your job at the RNC.
It’s the TOOTH FAIRY!! I keep telling you guys!! The TOOTH FAIRY is going to pay EVERYONE’S bills, balance the budget AND put a chicken in every pot, my friends!!!!
Just ask McSenile! He believes in TFE (Tooth Fairy Economics).
July 8th, 2008 at 3:16 pmOh, yeah - /snark off.
July 8th, 2008 at 3:17 pmIf you want to ThinkProgress, ThinkNader.
I like Ralphy but he missed his opportunity.
July 8th, 2008 at 3:21 pmDid not McCain or a member of his staff say that McCain would serve only one term? That let him out of any balanced budget plan then. Just what is a rumor, what is speculation and what is spin? But it all is obfuscating, just plain lying.
July 8th, 2008 at 3:22 pmIf you’re constipated, close your eyes and ThinkNader. That outa help scare the shit out of you!
July 8th, 2008 at 3:23 pmJibberesh the Drummer Shark sez:
You make such poor arguments
Jibberesh the Drummer Shark also sez:
When I Google “Obama flip flop” I get 1,870,000 hits. 1,330,000 for McCain.
Awesome! You’ve sold me! From now on I’m gonna google crazy shit and whatever gets the most hits WINS!!! It solves every argument quickly and efficently… and no one can argue with the results!!!
July 8th, 2008 at 3:24 pmA Patriot Acting Says:
If you’re constipated, close your eyes and ThinkNader. That outa help scare the shit out of you!
Hey, I just tried that - and it worked! I feel great now.
July 8th, 2008 at 3:24 pmHey, jabberjibber - I think BOB BARR is going to be a much bigger problem for the Repukes than that washed up old has-been Nader could ever be for the Dems…
Any thoughts?
Oh - never mind. That was a rhetorical question.
July 8th, 2008 at 3:26 pmMaybe after his third term?
July 8th, 2008 at 3:28 pmSmoking is cool = 510,000 hits
Smoking is uncool = 128,000 hits
Therefore, smoking is unquestionably cool! Thanks Jibber!
July 8th, 2008 at 3:30 pmNot to worry - McCain won’t even have one term to play with the truth.
July 8th, 2008 at 3:35 pmArguing with google hits also doesn’t work Jibber…
July 8th, 2008 at 3:36 pm… but that is probably way beyond you.
McCain admitted to being weak on economics. But his plan of balancing the budget by increasing expenditures and decreasing income proves that he failed math.
July 8th, 2008 at 3:43 pmIntelligence and common sense is waaaaaaay beyond jabberarse.
July 8th, 2008 at 3:45 pmBut. We’ve always been at war with Eurasia. Haven’t we?
July 8th, 2008 at 3:49 pmWhen Nader started taking money from the RNC, and giving speeches to Grover Norquist’s and Phyllis Schlafly’s “Wednesday Morning Meetings” of right-wing extremists, I stopped listening to him.
July 8th, 2008 at 3:58 pmI am so surprised to see Ted Baxter actually follow up on a question to McCain.
July 8th, 2008 at 3:59 pmI’m stunned that McIIIrd didn’t claim to be able to wave his wand and balance the budget in his first month in office.
Course, that would be balancing the book ‘Budgets for Dummies’ on his nose like a circus seal, but details, details…
July 8th, 2008 at 4:27 pmI’m all for pointing out flip-flopping politicians, but the video posted actually ends up making another point. McCain wants to DECREASE spending and INCREASE revenue by cutting taxes, which he contends will stimulate the economy. In other words, people will pay less percentage of income as taxes, but people will earn more because of a growing economy. If, in fact, you cut government spending, this plan makes sense. I used google and instead of just counting hits, I looked up the effects of tax cuts on economic growth found a helpful article from about.com that seems pretty politically neutral: http://economics.about.com/ cs/ taxpolicy/ a/ taxing_growth.htm
July 8th, 2008 at 5:31 pmGnubix get’s a hat at McCain’s website!!! Alright, gnubix! Way to be ‘objective’ and ‘thorough’, you sure converted alot of people to Reag-o-nomics today!!
Oh, forget the hat- go for the beer cooler!
July 8th, 2008 at 5:54 pmgnubix,
Too bad McCain offers no realistic plan for cutting spending. He talks about earmarks, but they are a tiny portion of the overall federal budget. If we remain in Iraq with the type of force we have there today, there is no possible way McCain will be able to cut spending significantly. Obama’s plan to end our permanent large scale presence in Iraq is the best plan to cut spending either candidate is putting forth.
We just had a balanced budget at the end of the Clinton administration. Under Obama, we’ll be going back to the same tax structure we had under Clinton. Unlike the modern day Republican administrations, the Democrats’ tax plan has a proven track record.
July 8th, 2008 at 9:15 pmBrian,
I totally agree with you on the spending cuts McCain suggests. Earmarks are almost insignificant. Realistically, no one, not even Obama, will be able to safely withdraw troops immediately, though. There is no way the current talks regarding a “Status of Forces” agreement between the US and Iraq will call for a hasty withdrawal. More likely, is a slow, steady reduction, with a few military bases remaining for a loooooong time.
Is there any good evidence that tax cuts/increases or government spending or anything else the president has influence on makes a difference in the economy? I mean, it makes sense that cutting taxes and spending helps, but is that actually the case?
July 8th, 2008 at 11:34 pmFor me, spending cuts are a scary prospect. Besides the fact that I don’t agree with the conservative policy of moving functions/ services provided by the state into the private sector, I just can’t support the process that would be required in order to accomplish such a goal (if I were to play the Devil’s advocate).
Who decides what programs to cut? Congress? Well, shouldn’t Congress already be doing that through the Appropriations Committees, which allocates the funds for these programs? If the argument is that Congress is wasting money on bad programs (and McCain is referring to domestic programs, which numerous Americans directly benefit/ depend on?!?!?) than the answer should be getting more accountability out of these programs. For me, there is more accountability in procedures conducted by the state than there is in procedures conducted by the private sector, although it’s becoming harder to distinguish…
How about eliminating some of our foreign programs i.e. IRAQ, then we’ll see what’s really contributing to the deficit. The money that the Appropriations Committee gives to domestic programs is already accounted for, it’s measured as a percentage of the whole based on importance (or so one would hope). Surely, this cannot be the reason for our continuously increasing debt…
July 9th, 2008 at 8:46 amhpeacor,
As I see it, there are certain functions that the federal government is “good” at and certain things they do poorly. For example, if I wanted to create program to feed everyone in the state of Iowa lunch, I could take $20M and give it to an elected committee who would come up with a process of buying food, chopping it up, cooking it, and distributing it throughout the state. Or, I could pay local restaurants to do the same. Since the restaurants are already doing this in their local markets, they have the infrastructure, personnel, and expertise in place. It would probably be more cost effective to allow the private sector to feed the people in this scenario.
However, defense, police, etc are all clearly better handled by the public sector.
I agree that anytime “spending cuts” are mentioned we need to be careful. There are many government programs that are helpful, and need to be handled by the government. Defense spending is obviously out of control and needs to be reigned in (Security represents 19% of the Federal budget, which is mostly Homeland Security, not DOD). Certainly there is fat that needs to be trimmed.
Interestingly, the 2008 Federal Budget shows a projected surplus beginning in 2012. So without doing a damn thing, either candidate should be able to balance it by the end of their fist term!
At the same time, I get also get nervous when people talk about taxing “the rich” to pay for MORE spending. The AMT is totally out of control and would I really like some clarity from Obama’s side on who is going to pay more taxes. A lot of people on the coasts that have been hit with housing bubbles, fires, etc. make more than $100k (as a family with two workers) and are paying state and federal income taxes that account for almost half of their income. Quite a few of these people are small business owners that employ others. If they are taxed MORE because they are “rich” (ie make over 100k per year) they may decide to go work for someone else where they can have more security. That’s not good either.
July 9th, 2008 at 2:58 pmSo, it sounds like we can agree that certain spending should be reduced, while other spending should remain, and we need to be VERY careful as to how we grow and/or maintain federal revenue without taxing people to death.
No?