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Monday, August 23, 2004

Eric Engen and Kevin Hassett have performed some worthwhile economic analysis of John Kerry's myriad spending proposals:

Our best estimate is that Kerry's proposals will add up to between $2 trillion and $2.1 trillion over the next ten years. Since the revenue from his tax proposals relative to the current baseline is actually negative, this implies that the Kerry proposal would increase the deficit by perhaps as much as $2.5 trillion over the next ten years.

They attained these numbers through "generous accounting" procedures that assumed a sum of zero for a proposed spending program where no spending numbers were available.

President Bush has been no friend of fiscal conservatism, but to exchange his administration for a Kerry administration would seem to be economic suicide. Even so, as long as we have an opposing Republican legislative branch, there is no way these proposals would be enacted.


.: posted by Dave 12:09 PM

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