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Deficit Impacts

Floor Speech

Date: Oct. 1, 2008
Location: Washington, DC
Issues: Government Budget and Spending


DEFICIT IMPACTS -- (Senate - October 01, 2008)

Mr. GRASSLEY. Mr. President, I have additional information to include in the RECORD that helps illustrate a point I made at the end of my speech yesterday regarding the comparative deficit impacts of the MCCAIN and OBAMA tax and spending plans.

I noted that Senator Obama proposes to increase the national debt by a staggering $1.31 trillion more than Senator McCain over the next 10 years. This table illustrates that Senator Obama's combined annual tax and spending plan increases the deficit more than Senator McCain's on a cumulative basis beginning in 2009 and continuing each year thereafter over 10 years.

Once again, this data raises the question whether Senator Obama is serious about reducing our national debt by returning to responsible fiscal policies. Senator McCain will need to expand on this point as well.

I ask unanimous consent that this table be printed in the Record.

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