Massive bailouts, foreclosed homes, jaw-dropping gas prices, chaos on Wall Street. These are just a few signs of the U.S.'s struggling economy. As America enters the next chapter of its history, what impact will an Obama administration have on our economic future?
Jason Furman, Economic Advisor
Senator McCain's plan sounds tough on government spending. But he is not willing to list very many, if any programs, that he would cut. Everyone is against fraud, waste and abuse. But cuts in those areas would be more believable if Senator McCain also proposed more specific reductions in government spending.
Barack Obama has done just that, calling for the reductions of payments to private plans in Medicare, the reduction of subsidies to banks that make student loans, reforming payments to high-income farmers, and other specific spending cuts.
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