Spending Against Spending

Talk about new spending.

The North Carolina pharmaceutical executives funding are spending freely with yet another ad assailing Obama on cable TV. This one faults Obama for proposing $3.5 trillion in "new spending" over 10 years. The ad calls it "Barack Obama's Bailout." The tab, according to the ad, includes "tax giveaways to people who pay no taxes, new welfare handouts, tax rates as high as 54 percent."

The ad doesn't cite a source for the $3.5 trillion figure, but notes that one analysis finds "Obama's tax plan would increase the debt by $3.5 trillion by 2018, while McCain's plan would bring about a projected $5 trillion increase in the same time frame." Then again, maybe that's not the study they meant to cite.



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