Obama is sizing up to be the war, racist and massive debt Presidential candidate. McCain Touts Plan to Balance Budget, Create Jobs, Help Workers - America’s Election HQ by FOXNews.com Monday, July 7, 2008 John McCain is promising to balance the ballooning federal budget by 2013 as he further promotes his jobs and economic plan in the face of a struggling U.S. economy. That effort to zero out excess spending which Barack Obamas campaign says is unrealistic is outlined in a campaign document circulated Monday, although McCain did not mention it in a town hall meeting he held in Denver where he delivered a speech on the economy. The 15-page policy paper says McCain will bring spending in check by chopping out wasteful spending a hallmark of his political identity and targeting what is known as the third rail of politics: Social Security and other entitlement programs that are about half of government spending. In the long term, the only way to keep the budget balanced is successful reform of the large spending pressures in Social Security, Medicare and Medicaid, reads the policy paper. The campaign also suggests it could start dropping war costs, and start paying for debts that have accumulated since 2001. The McCain administration would reserve all savings from victory in the Iraq and Afghanistan operations in the fight against Islamic extremists for reducing the deficit. Since all their costs were financed with deficit spending, all their savings must go to deficit reduction, reads the McCain paper.