The McCain campaign told the Politico this morning that John McCain intends to balance the budget in four years if he becomes President.

He says he’ll accomplish this by curbing wasteful spending and taking on one of the most politically dangerous issues on the planet—social security.

“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,” the McCain campaign says in a policy paper to be released Monday.

“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.”

The Obama campaign had a predictably chilly response to McCain’s proposal with one Obama aide calling the plan “preposterous.”