Focusing On Issues: McCain's Would Vastly Increase Our Already Ballooning Deficits

Fiscal deficits raise interests and require us to borrow internationally (primarily from China and the oil states).

Alan Greenspan commented Saturday that McCain's tax cut and spending plans likely would lead to even greater fiscal deficits than W. Bush. The Obama campaign has adopted a novel approach, they are issuing fact-filled memo's (footnoted) actually addressing specific issues, making our lives easier relative to burning through the McCain campaign's propaganda.

The gist of the memo- McCain proposes $3.3 trillion in tax cuts (continuing the Bush lower rates for the wealthy, eliminating AMT, lower corporate taxes, cutting more businiess taxes), while proposing roughly $17 billion annual reduction of earmarks (the same earmarks that Palin in practice in Alaska loved but in theory since her nomination rails against). Assuming every earmark as eliminated (totally unrealistic) McCain could finance about 6% of his proposed tax cuts. McCain's advisors have alluded to other misc. reductions none nearly large enough to cover the tax policy of McCain/Bush but McCain on the campaign trail has indicated he would not implement the reductions mentioned by his advisors.
http://obama.3cdn.net/af1925f1032ea575fd_2hm6b995d.pdf