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McCain's Balanced Budget Ideas re war savings
I am a little befuddled.
If all of our money for the wars is deficit spending, that means, I think, that if we stop spending for the wars, the deficit caused by those expenses will stop growing. There won't be any money from stopping the spending on wars to repay the deficit: the deficit still represents money owed. I believe much of it is owed to China!
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It is owed to the holders of TBills and bonds, many are Chinese, the SS trust fund (HA!) holds a huge amount as well.
I notice how many liberals are seizing on McCain's call to use that Iraq spending as debt reduction, but completely accept Obama's explanation of how he will finance his economic 'plan' with the savings from ending the war. Obama claims that the borrowing for war spending is killing the economy, then says he will use that borrowed money to pay for his spending.
July 7, 2008 1:36 PM | Reply | Permalink
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