This post from a few days ago addressed the Bush Administration’s rather lackluster record in regard to fiscal policy.
Now, American Enterprise Institute fellows Eric M. Engen and Kevin A. Hassett provide this analysis of John Kerry’s spending promises combed from his public statements, policy memos, and other information provided by his campaign staff. the Kerry spending promises add up to an extraordinary amount of money. Their best estimate is that Kerry’s proposals would increase federal spending $2 trillion and $2.5 trillion over the next ten years. Mr. Hassett comments:
[R]oughly half of this additional spending is attributable to Senator Kerry’s health care proposals that would add more than $900 billion in federal outlays. Education expenditure accounts for nearly one quarter of Kerry’s new spending, with almost $500 billion added over ten years. A $400 billion expansion of military personnel and benefits for veterans comprises most of the remainder of Kerry’s spending plans, with the balance distributed among numerous social programs and increases in international aid.
Hat tip to the Marginal Revolution for the link to this foreboding analysis.