Associated Press Reality Check
The AP, in a flagrent act of journalism, put out an article called "Democrat's Vision Will Collide With Reality". Five AP writers put together a laundry list of Obama and Democratic promises this year, and then check them against both the fiscal reality of a $482 billion dollar deficit, and the reality of the world.
I will say that I have one issue with the article. They took the easy way out on the tax plans of both Obama and McCain and used static numbers to determine what their plans would mean. That method of calculation has been completely discredited over the last 28 years, since income went up, not down, when Reagan cut taxes.
It's not pretty. Even with his tax increase ideas, Obama's plans come out costing hundreds of billions per year, and as they point out, many of the promises are either too vague to know the exact cost, or unlikely to get past congress.
I will say that I have one issue with the article. They took the easy way out on the tax plans of both Obama and McCain and used static numbers to determine what their plans would mean. That method of calculation has been completely discredited over the last 28 years, since income went up, not down, when Reagan cut taxes.
It's not pretty. Even with his tax increase ideas, Obama's plans come out costing hundreds of billions per year, and as they point out, many of the promises are either too vague to know the exact cost, or unlikely to get past congress.
Labels: Barack Obama, Campaign Promises, Deficit Spending, Taxes
posted by Crazy Politico at 5:17 AM
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