Obama and McCain in denial about deficits, economists say - L...

"The promises of both candidates are in serious trouble," said Penner, who is with the centrist Urban Institute, a nonpartisan research center on social and economic policy.

"Both of them are already underwater about the deficits they would face even without the bailout," he said. "And with the bailout, it's clear they will have to adjust their promises. But we're not hearing anything close to that from either of them."

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