Sen. Barack Obama, D-Ill., said during Friday’s presidential debate that he would "pay for every dime" of his spending. But according to the nonpartisan Tax Policy Center, "without substantial cuts in government spending" Obama’s plan — and McCain’s, too — "would substantially increase the national debt over the next ten years."
The Tax Policy Center has estimated that Obama’s proposed tax policies would increase the debt by $3.5 trillion over ten years.
And what about John McCain?
The Arizona senator’s tax policies would lead to an even bigger increase in the debt: $5.1 trillion over ten years.
While the Tax Policy Center has estimated the effect that the candidates’ tax proposals would have on the nation’s debt, it has not been able to do the same on the spending side because neither candidate has been sufficiently specific.
The Tax Policy Center is a joint venture of the Brookings Institution and the Urban Institute.