Cato Institute: Romney's economic plan "piles on more debt."

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    Apr 28, 2012 1:42 PM GMT
    It seems it's not just the left that's calling bullshit on Romney's economic "plan".

    Associated PressMitt Romney's Campaign Pledges Raise Questions

    WASHINGTON — Republican presidential candidate Mitt Romney is making campaign promises that could produce an economic miracle – or a more predictable list of broken vows.

    Romney says he wants to put the nation on a path to a balanced budget while also cutting an array of taxes, building up the Navy and Air Force and adding 100,000 active-duty military personnel. He says he would slash domestic spending and reduce tax loopholes but has offered few details.

    His comments raise eyebrows in Congress, long accustomed to easier-said-than-done promises. And even some conservatives have their doubts.

    Christopher A. Preble, a vice president for the libertarian Cato Institute, says Romney's promise to push military spending to 4 percent of the national economy would require dramatic increases that would raise, not lower, the federal deficit.

    Citing "the absurdity of Romney's plan," Preble wrote recently that the candidate "hasn't said what other spending he will cut, or what taxes he would increase."

    "Until he does," Preble wrote, "it is logical to conclude that he plans to pile on more debt."

    Romney says he will avoid that problem by making courageous cuts to federal programs if elected.
  • GQjock

    Posts: 11649

    Apr 28, 2012 3:11 PM GMT
    OMG y'don't say!!!