John McCain and the Decline of America
We now know that John McCain’s fiscal policy is likely to be standard Republican fiscal policy – and since 1981, standard Republican fiscal policy has increased the ratio of gross federal debt to GDP by nearly 2% per year. As a result, America in 2016 will likely be much poorer if he, rather than Barack Obama or Hillary Rodham Clinton, is elected president.
BERKELEY – Back in 1981, America’s Republican Party gave up all belief that the government’s budget ought to be balanced. The idea took hold that tax cuts should be undertaken all the time, at every opportunity, because reducing taxes supposedly raised revenue.