[Congressional Record Volume 154, Number 159 (Wednesday, October 1, 2008)]
[Senate]
[Page S10298]
From the Congressional Record Online through the Government Publishing Office [www.gpo.gov]




                            DEFICIT IMPACTS

  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.
  There being no objection, the material was ordered to be printed in 
the Record, as follows:

                                           TOTAL DEFICIT IMPACT OF OBAMA AND MCCAIN TAX AND SPENDING PROPOSALS
                                                                [In billions of dollars]
--------------------------------------------------------------------------------------------------------------------------------------------------------
                                    2009       2010       2011       2012       2013       2014       2015       2016       2017       2018     2009-18
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Obama Deficit Impact
    Revenue....................        $10        $84       $230       $309       $333       $352       $372       $394       $418       $445     $2,948
    Spending...................        293        293        293        293        293        293        293        293        293        293      2,930
    Additional Revenue Loss....         71         71         71         71         71         71         71         71         71         71        705
                                ------------------------------------------------------------------------------------------------------------------------
      Total....................        374        448        594        673        696        715        735        758        782        808      6,582
      Cumulative...............  .........        822      1,415      2,088      2,784      3,499      4,234      4,992      5,774      6,582  .........
McCain Deficit Impact
    Revenue....................        109        152        326        439        452        403        487        547        601        655      4,170
    Spending...................         92         92         92         92         92         92         92         92         92         92        924
    Additional Revenue Loss....         15         15         15         15         15         15         15         15         15         15        145
                                ------------------------------------------------------------------------------------------------------------------------
      Total....................        215        259        433        546        558        510        594        654        708        762      5,240
      Cumulative...............  .........        475        908      1,454      2,012      2,522      3,116      3,770      4,478      5,240  .........
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