Neither candidate has plan to halt debt

Even with eight straight years of massive budget deficits and the national debt now at $9.5 trillion, both McCain and Obama are campaigning on platforms that promise even more government handouts and tax cuts.

To better understand just how much $9.5 trillion really is: Until 1981 the national debt had never exceeded $1 trillion. Under Reagan the national debt almost tripled and has continued to rise under Bush and Clinton. Because of tax cuts and reckless spending by the Congress the national debt has increased by $1.6 billion a day since 2007.

Looking at the economic plans of both candidates, it is clear that neither candidate has a plan that would balance the budget and reduce the national debt. In fact, just the opposite is true. With either McCain or Obama in the White House the massive budget deficits will continue and the national debt will continue to grow.

McCain would make the Bush tax cuts permanent and enact new tax cuts. He also wants to, among other things: reform Social Security and Medicare; simplify the tax system and double the personal exemption.

Some of the highlights of Obama's economic plan are: a $10 billion Foreclosure Prevention Fund; $10 billion in relief for states hardest hit by the housing crisis; tax cuts for working families up to $1,000; and elimination of the income tax for seniors making less than $50,000.

There are goodies for everyone in the two plans. The brutal truth, however, is that instead of tax cuts and increased spending while the country is at war, the candidates should be telling the American people that huge cuts in spending and the elimination of some government programs will be necessary. They should also tell the American people that as long as the country is engaged in the war against the terrorists, that some taxes will have to be increased as government spending is slashed.

The two candidates understand what is necessary if the budget is to be balanced and the national debt reduced, but they want to become President; so they will pander to the voters and special interest groups and the of huge budget deficits will continue and the national debt will be about $13 trillion by 2016.

Victor Darst

West Dundee