We must contain spending, we have a spending problem. That is what I have been hearing in the first half hour of the debate. He didn’t address Obama’s question about his proposed tax cuts which are estimated at $400 billion (see below from WSJ) and how that will square with the estimated $18 billion in savings from no more earmarks.
In all, his tax-cutting proposals could cost about $400 billion a year, according to estimates of the impact of different tax cuts by CBO and the McCain campaign. The cost will make it difficult for him to achieve his goal of balancing the budget by the end of his first term.
-Josh
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