Heard The New Whopper From McCain?

Get this, the old man thinks he can balance the budget in his first term. All while cutting taxes and increasing military spending!

Hilzoy breaks down the math. His conclusion:

I suspect that he doesn't fully understand many of his proposals, and so might well be unaware of exactly how big a hole he's planning to blow in the deficit, and how unlikely it is that he will be able to plug it by the means he's specified. But I don't think that even he can actually believe that he can make up $695 billion by cutting earmarks and "reforming" Social Security.