McCain's Economy Bust

Alas, the NYT gets off of slamming Obama and gets back to slamming McCain, who was blowing a lot of smoke last week. See, McCain doesn't have a plan for the economy because he doesn't believe anything is fundamentally wrong with it. There's nothing wrong with the wealthiest getting the tax cuts, according to McCain. Bush's tax cuts for the wealthy work for McCain.

NYT: All of that made it more clear than ever why this nation desperately needs the next president to have a clear-eyed vision for the economy — and the federal budget in particular. And yet, the biggest news that Senator John McCain made last week was his renewal of a pledge to balance the federal budget by 2013. How? Who knows?

Mr. McCain’s main campaign promises, if fulfilled, would lead to huge budget deficits. Extending the Bush tax cuts, enacting more tax cuts of his own and staying the course in Iraq would cost hundreds of billions of dollars more, every year, than the small bore spending cuts he has specified. Mr. McCain cannot balance the budget on a crusade against pork and a one-year freeze in a sliver of federal spending. Either he has a secret plan to balance the budget or he’s blowing smoke.