Matt Yglesias

Sep 27th, 2008 at 11:25 am

Spending Freeze II

It’s worth really focusing in on the fact that John McCain’s campaign was running around — proudly! — boasting about the fact that they intend to follow up a $700 billion bailout for Wall Street and $800 billion in tax cuts for the rich with an across-the-board spending freeze. That means, in real terms, less money for your local police department. Less money for the FBI. Less money for Head Start. Less money for Pell Grants. Less money for infrastructure. Less money for everything except failed banks and endless wars.






29 Responses to “Spending Freeze II”

  1. El Cid Says:

    Clearly, the Republicans think Herbert Hoover should be given another chance. Hoover / Reagan 2008!!

  2. christopher Says:

    This was really a missed opportunity for Obama, I thought. It would have been a perfect chance to contrast his priorities: “McCain voted against SCHIP, and now wants to give really really rich people almost a trillion dollars?” That should win the election.

  3. Spike Says:

    Wow, that’s like using a hatchet when you need a scalpel.

  4. rupert Says:

    Obama did mention infrastructure as a priority, but could have invoked FDR and done a better job arguing against spending freezes.

  5. kafka Says:

    “That means, in real terms, less money for your local police department. Less money for the FBI. Less money for Head Start. Less money for Pell Grants. Less money for infrastructure. Less money for everything except failed banks and endless wars….”

    Pretty much the situation Obama will inherit if the bailout passes, which of course it will. And Obama has said as much.

  6. mike Says:

    So, then what does that mean about Obama’s position? He’ll give away a trillion dollars to banks, cut taxes but keep jacking up the spending? That’s no better. I’d like my “None of the above” line added to the ballot please.

  7. mort Says:

    Don’t forget that Sarah Palin (the Reformer) told Charlie that she is going to review the bureaucracy and find efficiencies (or inefficiencies she may have meant to say) and save us lotsa money.

  8. Karl Says:

    I don’t know why the Obama campaign isn’t pointing out that investment in alternative energy is one of the categories that McCain’s stated spending freeze would affect.

  9. EL Says:

    Well, what else is there to care about except war and investment banks? Ooops, no investment banks. So i guess it’s just war now.

  10. Todd Says:

    I was so frustrated Obama didn’t hammer this point last night, in a way the average voter can understand anyway. Turning to McCain and saying “tax cuts aren’t free, John, $800bn in tax cuts has the same effect on the budget as $800bn in new spending, and you haven’t even begun to explain how you’ll pay for it.” He only got around to it in a convoluted way when McCain kept harping on about earmarks, comparing the their tiny overall cost with the cost of tax cuts. Really didn’t seem get the point across clearly, which was then followed by McCain mocking him for calling earmarks a small problem. So many opportunities to nail him. grrrrr.

  11. Braden Says:

    So, then what does that mean about Obama’s position? He’ll give away a trillion dollars to banks, cut taxes but keep jacking up the spending? That’s no better. I’d like my “None of the above” line added to the ballot please.

    Some spending had little to no effect on long-term economic growth, other types of spending drastically improve growth. What are the largest drags on the U.S. economy right now (excluding foreclosures)? Health care costs, a poor education system producing too many students without the proper skills to be hired in advanced manufacturing or higher-paying service sector jobs, and a crumbling public infrastructure (also a horribly inefficient one).

    Any government investment to fix these problems WILL lead to long-term economic growth. Obama’s right. You need to do these programs even if government revenue is falling because they will, in the long run, pay for themselves.

  12. J Thomas Says:

    What are the largest drags on the U.S. economy right now (excluding foreclosures)? Health care costs, a poor education system producing too many students without the proper skills to be hired in advanced manufacturing or higher-paying service sector jobs, and a crumbling public infrastructure (also a horribly inefficient one).

    Braden, you left out the military.

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