Says Spending Cuts, Not Income Tax Cuts, Stimulate The Economy
"John McCain is really not interested in this. I mean, when asked about this, he said, 'let's cut spending.' Now, whatever you do, it seems to me, you don't certainly stimulate the economy by cutting spending." – George Will (ABC's "This Week," 1/20/08)
Sen. McCain Doesn't Support An Income Tax Cut To Stimulate The Economy:
Instead Of Cutting Taxes To Stimulate The Economy, Sen. McCain Would Focus On Cutting Spending. SEN. MCCAIN: "My friends, what we need to do, to start with, before we go any further is stop the out-of-control spending." (Fox News' "Fox News Live,"1/19/08)
Sen. McCain: "Spending Is What's Gotten Us Into The Trouble We Are In Today." SEN. MCCAIN: "But we've got to restrain spending. Spending is what's gotten us into the trouble we are in today. … Spending is the reason why our house is in such fiscal disorder." (Sen. John McCain, Press Conference, 1/20/08)
Sen. McCain Does Not Support President Bush's Stimulus Plan. "McCain appeared to be resisting temporary economic relief for individuals, even as President Bush indicated support for a short-term boost and Federal Reserve Chairman Ben Bernanke called explicitly for it. Bernanke urged the government to adopt a plan quickly and make it temporary, and said 'putting money into the hands of households and firms' would be more effective than measures such as making Bush's tax cuts permanent." (Tom Raum, "McCain Proposes Economic Plan With Corporate Tax Break," The Associated Press, 1/17/07)
Sen. McCain Does Not Support Giving Taxpayers A Refund. "McCain adviser Doug Holtz-Eakin suggested the Arizona senator does not favor temporary relief at this time. 'We haven't seen household declines in spending,' he said." (Tom Raum, "McCain Proposes Economic Plan With Corporate Tax Break," The Associated Press, 1/17/07)
Cutting Government Spending Does Not Stimulate The Economy:
Mort Kondracke: "You Don't Stimulate The Economy By Stopping The Out-Of-Control Spending." FOX NEWS' MORT KONDRACKE: "The exit polls indicate that by far the biggest issue was the economy. And finally John McCain got around to talking about it. Although I gotta say, this doesn't strike me as the way to address it. … You don't stimulate the economy by stopping the out-of-control spending." (Fox News' "Fox News Live,"1/19/08)
George Will: "You Don't Certainly Stimulate The Economy By Cutting Spending." ABC's GEORGE WILL: "John McCain is really not interested in this. I mean, when asked about this, he said, 'let's cut spending.' Now, whatever you do, it seems to me, you don't certainly stimulate the economy by cutting spending." (ABC's "This Week," 1/20/08)
View criticism of Sen. McCain's economic position here: www.youtube.com/watch?v=rhSQ5L_Meqs
Sen. McCain Says He Doesn't Understand Economic Issues:
Sen. McCain: "The Issue Of Economics Is Not Something I've Understood As Well As I Should." "Like Mike Huckabee, who joked recently that he 'may not be the expert that some people are on foreign policy, but I did stay in a Holiday Inn Express last night,' McCain suggested to reporters Monday that American consumer culture offered a short cut to expertise. 'The issue of economics is not something I've understood as well as I should,' McCain said. 'I've got Greenspan's book.'" (Sasha Issenberg, "McCain: It's About The Economy," The Boston Globe, www.boston.com, Posted 12/18/07)
Sen. McCain: "I Still Need To Be Educated." "On a broader range of economic issues, though, Mr. McCain readily departs from Reaganomics. His philosophy is best described as a work in progress. He is refreshingly blunt when he tells me: 'I'm going to be honest: I know a lot less about economics than I do about military and foreign policy issues. I still need to be educated.'" (Stephen Moore, "Reform, Reform, Reform," OpinionJournal.com, 11/26/05)
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