That’s Right Nate

Thoughts from a right thinker.

McCain Will Balance Budget In First Term

with 2 comments

I really hate when this happens and the only clip you can find of an important speech like John Mccain’s Town Hall Meeting on the Economy today in Denver.  I’ve posted one edited by a lefty group, but I do believe it shows McCain’s low key yet riveting speaking style.

Today John McCain announced his plans to balance the budget within his first term of office.  This would be an amazing trick and its one that McCain can pull off.    There are three points to his strategy:

1. Cut waste
2. Belt Tightening
3. Taking all the money we save by winning the wars in Iraq and Afghanistan and reinvesting it in paying off the budget.

Now anybody who has spent time with a grandparent who takes butter, cream, or dinner rolls from a restaurant table for later consumption knows how the first two works.   In a building as large as the White House you must imagine that just having McCain to turn off the lights in rooms nobody is using at the time will save a lot of money.

The third point is a bit more technical.  Obviously McCain is sure that it won’t take more than a year or so to win those two wars.  Then its just a question of reinvesting the money.  Now what makes things tricky is the war has been funded by deficit spending.

An easier way to look at it would be if you had a credit card and for 10 months you paid all your bills except you charged a $900 plasma television.  At the end of those 10 months you would have a credit card balance of $9000 + interest.  Now, let’s say that you stopped buying those televisions (The war).  Since the televisions cost $900 each, it would take you a little over 10 months to pay off your balance if you spent the money you had been spending on televisions and used it to pay off the balance.  Its that simple.

Now Obama is going to say you need to raise taxes or some other economic mismanagement, but McCain’s way is much simpler and still allows him to cut taxes on the wealthy who will continue to make more jobs for the rest of America.


Written by thatsrightnate

July 7, 2008 at 4:45 pm

2 Responses

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  1. wait. are we buying a $900 plasma each month? or just one, and after 10 months with interest, have a bill for $9000. that interest, by the way, if ONLY the principle is charged against, amounts to 1000%, or 100% monthly. i don’t know what credit card you have, but you need to renegotiate your rates, dude. you’re getting HOSED!!!!


    July 13, 2008 at 1:24 pm

  2. That’s 1 plasma each month for 10 months. That comes to $9,000


    July 13, 2008 at 2:34 pm

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