Balancing the Budget with Tax Cuts and Defense Spending Increases

Obama’s record on the dealing the deficit leaves a lot to be desired.  However, it seems that Romney would be worse, especially given the fact that he wants to increase defense spending, even though we already outspend the next several biggest spenders combined.

Charles Riley of CNNMoney has a must see graph showing how defense spending under Mitt Romney would compare to the current DOD baseline budget over the next decade. His title notes the spending over the next decade will exceed the baseline budget by more than $2 trillion. I like this:

Romney has proposed a slew of tax cuts, and plans to cap federal spending at 20% of GDP. But in both cases, the Romney campaign hasn’t fully explained how those provisions will be paid for. The lack of detail means that Romney’s claim of moving toward a balanced budget requires a great deal of trust.

But no one should trust Mitt Romney on fiscal matters. No one.

Balancing the Budget with Tax Cuts and Defense Spending Increases
Thu, 10 May 2012 20:08:00 GMT

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