Kerry Presidency Will Cost Taxpayers, Watchdog Group Says
July 7, 2008 - 8:30 PM
(CNSNews.com) - If Sen. John Kerry is elected president, federal spending will increase by $226 billion in the first year of his presidency, according to a study by the National Taxpayers Union. Of Kerry's 70 fiscal campaign promises, 65 of them would increase spending, the study indicated.
"The only way obviously to fund this would be to increase the budget deficit or to raise taxes," said Annie Patnaude, deputy press secretary at National Taxpayers Union.
According to his campaign website, "John Kerry will cut the deficit in half during his first four years in office."
This leaves experts worried about the remaining alternative to fund increased spending - higher taxes. But Kerry has also promised middle-class tax cuts.
"Of course, one thing we're concerned about is that a spending increase like this is going to have an effect on the permanency of the Bush tax cuts," said Patnaude.
President George W. Bush has cut taxes by increasing the child tax credit, placing more people in the 10 percent income tax bracket and providing tax relief for middle-income married couples.
During President Bush's term spending increased by $536 billion during a four-year period. Kerry's proposals would increase spending by $621 billion during four years, meaning an average tax increase of $6,066 for each person paying federal taxes.
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