McCain questions Obama's budget calculations
...Someone in Congress needs to be making this argument. Actually the House leadership has been attacking the Obama budget too, but the McCain argument is one that I think will have the most resonance with voters. I would go even further and attack the magic reasoning of the Obama budget. It is not just bad math. It is based on false assumptions about how revenues will supposedly be saved by his health care proposals and be neutral on his energy proposals. Those assumptions have no basis in fact.
Stopping just short of calling Mr. Obama disingenuous or dishonest, Mr. McCain said Thursday that the president can't possibly expand spending - generating more debt in a single term than was created by every president from George Washington to George Bush combined - without making massive spending cuts. Thus, he said, the president's plan to cut taxes for all but 5 percent of Americans is mathematically impossible.
"Insulating 95 percent of voters from the consequences of their electoral decisions is dangerous for a democracy. It is also misleading. Does anyone really believe we can expand non-defense spending to a record share of GDP, reform the health care system that is one-sixth of the economy, reinvent the energy portfolio that powers our lives, and drive next-generation broadband to every home while cutting taxes for 95 percent of Americans?
"It doesn't add up. It won't add up. And it won't last," he said, drawing applause.
He was then asked what will happen. "We have to raise taxes. You know - and it follows as the night [follows] the day, because if you increase spending and you let government grow, then sooner or later you've got to pay for it."
Far from skulking away with his tail between his legs after his defeat, Mr. McCain has kept up a steady drumbeat of opposition to the president's expansive proposals. While some other Republican leaders have steered clear of attacking the popular president, the former Navy fighter pilot has been taking direct aim at his former Senate colleague.
Byron York also covers the McCain critique. There are some in the Obama administration who understand the deficits that are forecasted by the CBO are not sustainable. But, they have chosen to rely for optimistic forecast of their own. It sort of reminds you of the lending practices that got us into this mess to begin with.