John McCain on Budget & Economy
Use veto power to reduce government spending
McCAIN [to Bush]: You seem to depict the role of the president as a hapless bystander. [Clinton] is threatening to shut down the government and vetoing bills to force the congress to
spend more money. An active president, i.e. me, will veto bills and threaten to shut down the government to make them spend less money. Bush: It’s the president’s job to make sure Congress
doesn’t have the money to spend in the first place. It is the president’s job to stand up to express the will of the people, advocate and
fight for a meaningful real tax cut. And that’s what I’m going to do.
Source: (X-ref to Bush) GOP Debate in Manchester NH
Jan 26, 2000
Distribute surplus: 23% tax cuts; 62% Social Security
McCain says he would dedicate just 23% of [the federal budget surplus] to a tax-cutting plan. For the rest of the surplus, McCain says 62% would bolster Social Security, 10% would go to Medicare, and 5% would pay down the
national debt. “John McCain has never voted for a tax increase, but he thinks saving Social Security is the issue,” McCain’s campaign manager said.
Source: Associated Press, in The Enterprise (Brockton MA), p. A9
Jan 4, 2000
$9B of pork in current budget bills; cut subsidies
McCain said he has found at least “$9 billion worth of pork and wasteful spending” in the appropriations bills now being considered by Congress that could fill the budget gaps. He specified subsidies for oil, ethanol and sugar as examples. “Congress has
found the funds to raise their own salaries but they can’t find enough to help and lower and middle-income Americans,” said McCain.
Source: Will Lester, AP/LA Times
Oct 1, 1999
For Balanced Budget Amend., & off-budget Social Security
McCain was one of only two Republicans who voted twice, in 1995 and again in 1997, to take Social Security “off-budget” - removing it from balanced budget calculations as part of a constitutional balanced budget amendment - which would have prevented the
government from filling the trust fund with “IOU’s”.
Source: McCain for President web Site
Jul 2, 1999
List of budgetary spending priorities
McCain would “maintain status” on spending for:- AIDS programs
- Environmental programs
- Foreign aid
- Housing projects
- Job training programs
- Medicaid & Medicare
- Student loan programs
McCain would “slightly increase” spending
for:- Education (K-12)
- Law enforcement
- Military & Veterans Benefits
- Border Control
McCain would “slightly decrease” spending for:- NASA
- Welfare
McCain would eliminate spending for:- Arts funding
Source: Project Vote Smart, 1998, www.vote-smart.org
Jul 2, 1998
Supports Balanced Budget Amendment
McCain supports amending the US Constitution to require an annual balanced federal budget.
Source: Project Vote Smart, 1998, www.vote-smart.org
Jul 2, 1998
Apply surplus to Social Security, Medicare, tax cuts & debt
McCain would would apply the expected federal budget surplus to:- Social Security
- Medicare
- Tax cuts
- Federal debt reduction
Source: Project Vote Smart, 1998, www.vote-smart.org
Jul 2, 1998
Voted NO on prioritizing national debt reduction below tax cuts.
Vote to table [kill] an amendment that would increase the amount of the budget that would be used to reduce the national debt by $75 billion over 5 year. The debt reduction would be offset by reducing the tax cut in the budget framework from $150 billion
Bill S Con Res 101
; vote number 2000-55
on Apr 5, 2000