Talk about spending your grandchildren’s inheritance ...
Posted by: McQ
on Wednesday, June 04, 2008
How much will the presidential candidates cost you if elected?
Well obviously, it depends on whether they can get all of their programs passed as they promise, but according the the National Taxpayer's Union, each of them promises to raise spending if elected - some much more than others:
NTUF's third round of "costing out" the candidates' platforms since January 29 found that Clinton would increase yearly federal spending by $289.6 billion, compared to Sen. Obama's (D-IL) $343.9 billion — both significantly higher totals from the last update on March 3. NTUF also released an update for Sen. John McCain (R-AZ), the presumptive Republican nominee, who would swell annual federal outlays by $68.5 billion — almost 10 times the amount he was backing in January.Yes, McCain has increased his spending promises 10 fold, and even with that, can't even come close to the annual outlay the "fiscally responsible" Democratic candidates promise. The money, of course, has to come from somewhere, and if you think the Dems are serious about PAYGO, you're not watching the Blue Dog Dems cave at every spending turn.
As the primary season has progressed, so has the political pandering:
Brady noted that Clinton's spending total (now $289.6 billion) has jumped by nearly 33 percent since January 29 ($218.2 billion), and by roughly 28 percent since March 3 ($226.1 billion). Likewise, Obama's annual spending platform ($343.6 billion) has increased by about 20 percent since January 29 ($287.0 billion), and by about 12 percent since March 3 ($307.2 billion).Per NTUF, and as promised, most of the increases came from each candidates version of a cap and trade program. But additonally:
Items with considerable price tags include a $500 million "Made Green in America Fund" (Clinton), an unemployment compensation system for older workers (McCain, updated from "cost unknown" to $3.5 billion), and $625 million more to combat autism (Obama).Wonderful.