John McCain has stated that he does not understand economics, and various statements he has made certainly prove he needs to take Economics 101.

According to a recent article in The Wall Street Journal, which is far from being any left-leaning, anti-McCain newspaper, McCain has proposed tax cuts of over $650 billion a year, much of which would benefit the wealthy and large corporations. Much of these cuts would come from extending Bush's tax cuts, despite the fact that McCain voted against them twice, saying they mostly benefited the wealthy.

Asked how he would pay for these cuts, he has claimed that he would eliminate congressional earmarks, i.e., bridges to nowhere, and cut $160 billion a year from the discretionary budget. Where the $160 billion a year in cuts would come from, were not addressed. Once again, McCain-Omics are devoid of reality. The facts, according to The Wall Street Journal, are that total discretionary spending totals about $1 trillion a year, and the chances of a 16 percent cut are "non-existent," according to the Concord Coalition, a nonpartisan group that promotes fiscal discipline.

McCain claims that he is a fiscal conservative; he can claim/say whatever he wants.

The proof, however, is in the numbers. You do not need a financial calculator or a Ph.D. in economics to know the numbers just do not add up. What the above would do, would be to ensure huge budget deficits for as long as one could see, and to ensure continued income inequality between the very wealthy and the rest of us.

Since the economy will be the No. 1 issue, it's about time the media spent less time on the Clinton-Obama sideshow, and more time educating the public about Teflon John and his erroneous statements about economic policy and tax cuts.

Barry Rabinowitz

Source: http://www.sun-sentinel.com/news/opinion/sfl-brmail986pnapr25,0,4292262.story