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

Source: Project Vote Smart, 1998, 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, Jul 2, 1998

Apply surplus to Social Security, Medicare, tax cuts & debt

Source: Project Vote Smart, 1998, 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

Other candidates on Budget & Economy: John McCain on other issues:
John Ashcroft
Pat Buchanan
George W. Bush
Dick Cheney
Bill Clinton
Hillary Clinton (D,NY)
Elizabeth Dole
Steve Forbes
Rudy Giuliani (R,NYC)
Al Gore
Alan Keyes
John McCain (R,AZ)
Ralph Nader
Ross Perot
Colin Powell
Jesse Ventura (I,MN)

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