WHO WILL PAY THE BILL?

In 2009, when the next president takes office, the government is expected to spend $400 billion more than it takes in, adding to a national debt that tops $9 trillion. Yet Sens. Hillary Clinton and Barack Obama both offer a long list of new spending proposals - $287 billion for Obama and $218 billion for Clinton. But what is more unclear is how they would pay for them.

To make matters worse, any tax increases and military reductions might be needed just to cover the government's existing shortfalls caused principally by rising health care costs and the pending baby boomer retirement...

[not to worry, they'll just repeal the Bush tax cuts and that will pay for everything. When are we going to learn: it's the spending.]

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