Ron Paul came in at -$150.1 billion and Barack Obama at $287 billion for new spending proposals in a 2008 Presidential Candidate Budget Analysis put together by the National Taxpayers Union Foundation, representing the lowest and highest numbers, respectively, of all the candidates. These numbers represent new spending programs the candidates are proposing the government take on if they are elected president. Obviously there is quite a difference in spending between the two ends of the spectrum in Paul and Obama, but what where do the rest of the candidates sit?
From highest to lowest, Hillary Clinton came in second after Obama, proposing $218.2 billion in new spending. Following Clinton is Mike Huckabee at $54.2 billion, Mitt Romney at $19.5 billion and John McCain at $6.9 billion. The only candidate other than Ron Paul who was proposing an overall spending cut was Rudy Giuliani, at -$1.4 billion; however, he recently dropped out of the race and has endorsed McCain.
Each of the Democratic candidates came in with large new spending proposals, largely because of the health care reforms they wish to see enacted. Both Clinton and Obama are proposing to get rid of the Bush tax cuts, which they hope will work toward offsetting their spending increases. Cutting the Bush tax cuts alone, however, will not come close to meeting their spending increases. This means in order for the candidates to enact their policies, they will need to make additional cuts elsewhere, increase tax income or increase the government’s deficit. This same assessment goes for the Republican candidates who are proposing spending increases. None of them are campaigning for increased taxes, though.
The big day--Super Tuesday--is tomorrow, so if you happen to reside in one of the more than 20 states holding their primaries tomorrow, get ready to vote. Look over some of our archived posts (January) for more insight into each candidate.