Contrary to candidates pledge to half the deficit, Candidate favors big new spending
WASHINGTON, D.C. – One of the cornerstones of John Kerry\’s presidential campaign has been a promise to cut the federal budget deficit in half. Ironically, a Washington Post review of Kerry\’s tax policy and spending plans, in addition to interviews with campaign staff members and analyses by conservative and liberal experts, suggests that they will worsen the federal budget deficit.
"John Kerry is deceiving voters by claiming he will cut the deficit," said ATR President Grover Norquist. "Kerry wants to implement big new government spending programs that will raise our budget deficits instead of reining them in."
Kerry has vociferously attacked President Bush over the current budget deficit, repeatedly accusing the administration of "unprecedented fiscal recklessness." According to an ATR study, however, Kerry has proposed over $200 billion in spending but has announced tax increases that will generate only $60 billion in new revenue.
"John Kerry wants to follow the old liberal tax and spend model and stick American taxpayers with the bill," continued Norquist. "Kerry is promising all things to all Americans, but all he will deliver is bigger deficits and higher taxes."
Projections by the non-partisan Congressional Budget Office (CBO) predicts that deficits will substantially decline substantially each year for the next 7 years. The CBO concludes that, under President Bush\’s fiscal policy, shortfalls will be nearly eliminated by 2012.