I commend the New York Times for publishing the article "3 Candidates With 3 Financial Plans, but One Deficit" April 27, 2008.† This article points out that the candidates' plans "could significantly swell the budget deficit and increase the national debt by trillions of dollars, according to tax and budget experts."†††
Unfortunately, the article noted that our country's current debt is $9.1 trillion.† This amount does not include the Social Security and Medicare benefits that have been promised to seniors.† If these off-balance sheet liabilities are included then the federal debt is more than $54 trillion.†
The article also estimates the costs of the candidates' promises and the savings the candidates' believe will materialize the pay for some of these promises.† It would be very valuable for the public to have an independent source for these estimates.† Voters need to be given an honest calculation of how much the campaign promises will increase annual deficits.† Voters need to know the amount our true debt will increase if the candidates' financial plans are enacted.† How can Americans make accurate assessment about the best leader of our country without having the financial information needed to make this crucial decision?†
Please support the Institute for Truth in Accounting, so we can calculate this financial information and provide it to you.† Your contributions are needed.