McCain’s “magic carpet ride” speech yesterday asked us to consider America in 2013 in the fourth year of a John McCain presidency.
We did. Here’s what we found:
In 2013, after McCain’s four years of Bush-style fiscal irresponsibility, tax breaks for corporations, and more tax cuts for the wealthy, America would have a $780 billion deficit (4.3% of GDP) and national debt of $8.5 trillion (47% of GDP). That’s over $1.5 trillion more debt than would be accumulated under a continuation of current Bush policies.
John McCain’s 2013: More of the same, but worse.