Obama campaign takes a swing at Santorum
February 21st, 2012
11:59 AM ET
2 years ago

Obama campaign takes a swing at Santorum

(CNN) - President Barack Obama's re-election campaign on Tuesday issued a memo knocking the economic plans of Republican presidential frontrunners Rick Santorum and Mitt Romney.

The memo, addressed to interested parties and sent to the press, represents the latest sign that the Obama campaign now considers Santorum a potential competitor for the president in the fall.

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Until Santorum's recent rise, national Democrats have almost solely trained their fire on Romney. But with Santorum surging ahead in the GOP horserace and now leading Romney in national polls, the Obama campaign appears to be shifting gears.

In this instance, the memo goes in depth on the economic plans presented by both Romney and Santorum, suggesting the campaign sees little difference between the two candidates

The campaign paints the plans, both of which focus on lower taxes and lower spending, as unrealistic.

Santorum has proposed cutting $5 trillion in federal spending in five years with the goal of reaching a balanced budget in the fifth year

Team Obama, however, said the numbers don't add up.

"Even if Santorum achieves nearly a trillion dollars a year in savings, nearly all of those savings would be needed to finance Santorum's tax cuts, leaving little or nothing for deficit reduction," James Kvaal, the campaign's policy director, said in the memo.

Citing the Tax Policy Center, the lengthy document claimed Santorum's tax plan, which includes a 17% corporate tax and zero tax rate on manufacturers, would raise the deficit by about $900 billion in 2015.

As for individual tax rates, Santorum would reduce the number of income tax brackets from six to two (10% and 28%) and triple what his campaign identifies as the personal deduction that parents can claim for their children. In addition, he would eliminate both the Alternative Minimum Tax and the estate tax. And he would reduce the capital gains rate from 15% to 12%.

Romney's plan would get rid of taxes on interest, dividends and capital gains for taxpayers who make less than $200,000. It also calls for an elimination of the estate tax, and a reduction in the tax rate paid by corporations from 35% to 25%.

But Obama's team said both plans would shift the tax burden to the middle class.

"Like their budgeting, the rest of Romney and Santorum's economic policies return to the trickle-down, boom-and-bust economics that failed in the past," Kvaal said.

Also see:

Santorum clarifies 'theology' remark

Santorum rips Obama on social agenda

Gay sheriff resigns Romney role after allegations


Filed under: 2012 • Economy • President Obama • Rick Santorum • Taxes
soundoff (41 Responses)
  1. Rudy NYC

    Truth wrote:

    Democrat's economic plan during hard times: "We must borrow and spend our way to prosperity! Now is NOT the time to cut spending!"
    -----------–
    Republican economic plan during good times: "We must tax cut and borrow our way into prosperty, Now is the time to further increase defense spending through wars." And, when the inevitable economic bust comes, blame the Democrats.

    February 21, 2012 12:51 pm at 12:51 pm |
  2. Noodle Nose Johnson

    What's fun is watching nimrods like Fair is foul and Lies and nothing but lies become increasingly unhinged as Obama continues to succeed. The Dow topped 13000 this morning for the first time since 2008, so naturally they're screaming about how he's made a mess of the economy. Keep it up! It's hilariously entertaining!

    February 21, 2012 12:53 pm at 12:53 pm |
  3. Fair is Fair

    They say Obama saved the American auto industry. And yet, there are self-admitted American auto industry workers in here blogging all day long. Given that, and the crap that the American auto makers produce, my guess is that those bloggers are probably in the quality assurance department.

    February 21, 2012 12:56 pm at 12:56 pm |
  4. Anonymous

    Although PRESIDENT ( lets not forget that word) President Obama has had to deal with the largest defict to date, that is expected in the norm of things as every president has been left a larger deficit from the proceeding administration with exception of just a few. Nobody in the republican party like Bill Clinton but yet he turned out to be a good president and President Obama has been a great one. The deficit was enlarged by republicans and their allegiance to the rich and wall street inspite of working for the people.

    February 21, 2012 12:59 pm at 12:59 pm |
  5. mactsr

    Taxes are not the problem spending is.

    Cut these programs and balance the budget NOW.

    Social Security, SSI, tanf, food stamps, medicare, medicaid, and any other program that gives money to the leaches in our society.

    February 21, 2012 01:00 pm at 1:00 pm |
  6. Fair is Fair

    @ Noodle Johnson -

    I think there's a blue pill for your condition.

    February 21, 2012 01:07 pm at 1:07 pm |
  7. Malory Archer

    jilli, I'll take "terminal bitterness" for the win! ;-)

    February 21, 2012 01:11 pm at 1:11 pm |
  8. rsubber

    Santorum, this guy is saying that it's the government's plan to "cull the ranks of the disabled in our society." That's goofy, erratic, offensively ignorant and frighteningly irrelevant.....let's talk about jobs, Wall Street regulation, global climate change, Iranian nuclear threats, you know, the real issues......
    More comments on my blog: Barley Literate by Rick Subber

    February 21, 2012 01:12 pm at 1:12 pm |
  9. Malory Archer

    Figures – fair knows all about those little blue pills! lol!

    February 21, 2012 01:12 pm at 1:12 pm |
  10. Anonymous

    Fair is Fair
    "That's exactly what the "Obama camp" and every incompetent does – blame someone else for their incompetence."

    Seems to me that's exactly what the republicans are doing – blaming Obama for the total mess they made of the economy. Now they want the Presidency again so they can do the same things that created the mess in the first place. Maybe the recovery is taking longer than we would like, but Obama is doing it IN SPITE of a House of Reps that will do anything to slow it down, no matter how much dammage it does. Heaven help us if any of those Republican lunatics actually wins and becomes President – then we are surely doomed to repeat the failures of the past.

    February 21, 2012 01:16 pm at 1:16 pm |
  11. Fair is Fair

    Malory Archer

    Figures – fair knows all about those little blue pills! lol!
    -----–
    I know enough to know my husband sure don't need them. Jealous?

    February 21, 2012 01:19 pm at 1:19 pm |
  12. Fair is Fair

    "Seems to me that's exactly what the republicans are doing – blaming Obama for the total mess they made of the economy. Now they want the Presidency again so they can do the same things that created the mess in the first place. Maybe the recovery is taking longer than we would like, but Obama is doing it IN SPITE of a House of Reps that will do anything to slow it down, no matter how much dammage it does. Heaven help us if any of those Republican lunatics actually wins and becomes President – then we are surely doomed to repeat the failures of the past."
    -------
    Obama had the congress for 2 years and the economy stayed in the dumper. The GOP took the house and the economy has been improving ever since. Try to keep up.

    February 21, 2012 01:21 pm at 1:21 pm |
  13. cptpooppants

    @ fair is fair

    All your posts show exactly how ignorant and brainwashed you are. Stop drinking the tea.

    February 21, 2012 01:22 pm at 1:22 pm |
  14. Jrdz

    Yes folks you are watching the GOP self destruct right before your eyes best reality show ever filmed and it just keeps getting better by the day who know. All Santorum will do is declare that the Earth is Flat and the Stars that Shine at Night are Nothing but Lanterns and don't forget about how The Earth Dose Not Revolve Around The Sun and that is just for starters with this guy.

    February 21, 2012 01:26 pm at 1:26 pm |
  15. Fair is Fair

    cptpooppants

    @ fair is fair

    All your posts show exactly how ignorant and brainwashed you are. Stop drinking the tea.
    -------
    Hey crapinthepants... I'd take you on in a battle of wits, but you're woefully unarmed.

    February 21, 2012 01:26 pm at 1:26 pm |
  16. Larry L

    @Fair is Fair

    "I never thought I'd see the day where America had a president that would make Jimmy Carter look competent, but Obama proved me wrong."
    -------------------------------------------------------
    Were you in a coma during the Bush years? He's the one who started the wars and didn't plan for their end nor put them in the budget. He's the one who trashed the economy then left if for President Obama to fix – without any Republican support. Conservatives create their own reality and ignore any facts that conflict with what they choose to be the truth. None of you ever man-up to the Bush years and do nothing but obstruct the President's efforts to clean up the mess.

    February 21, 2012 01:27 pm at 1:27 pm |
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