New York (CNNMoney) - Mitt Romney says he would balance the federal budget by the end of his second term.
So what would it take? In short, a lot.
Romney would grossly increase deficits giving more unaffordable tax cuts to the rich while increasing spending without a way to pay for it.
Romney's arithmetic does not balance, while Pres. Obama's plan reduces deficits to a surplus based on non-partisan analysis.
The only thing that will balance the budget or reduce the debt is a large dose of economic growth. Now the question becomes, which party's economic policies are more likely to lead to such growth? Most of what the republicans propose would be the right thing for a strong economy. What Obama is proposing would work best in our current recession.
You do different things in different economic conditions; is that such a tough concept for either party?
Balancing the budget means very little. It's a good sound bite for those wanting to take the populace back to cave dwelling status, but little else. But, the same people clamoring for a balanced budget, are the same people that had to foist prohibition on the country, and what a rousing success that was. Think, before setting your stake on a certain position. You could do more damage by trying to do what you believe to be right, as opposed to what actually is right.
First he has to win a first term....
its about jobs....thats it...americans want to work...the rest of the talk dont matter if you dont have a job......
I've never seen a candidate quite like Mitt Romney before. Never. I don't know if it's his ego, or if he's so insecure about himself that he goes from here to there without a care in the world, or if he simply is as gullible as he comes across. Whatever it is, this man is not going to be President of the United States - this year or any year forward. He is unable to fit in his own party, and we've seen just how hateful his "party" is when they don't get their own way. He's taken grovelling to a level not yet seen in American politics. This man is incapable of understanding himself - let alone his party - or America as a whole. But, do vote for him GOPers. You all deserve nothing better than Mitt Romney as your candidate.
Romney Cares Less about the middle class,the poor, the arts, children,health,the old,the sick,the hungry.... Only cares about his own kind the RICH and the MORMONS.
OBAMA 2012! Forward with Christian Compassion!
Mittens had a chance to back track his 47% inane comments, but he has such little respect for soldiers in Afghanistan, seniors, disabled veterans, college students, and workers who pay the payroll tax. He is out of touch, and clearly, he is not one of us.
Mitt Romney is going to cause further damage to the middle class. Someone has to pay for tax cuts given to the rich.
You want a second term but want our great president to do it in one? Romney, you lose. Tina in Tempe.
This guy is a disaster to USA that ships jobs to China and stashes his money in Cayman islands to evade taxes. BAIN-CAPITAL.
William Kristol on Fox News:
If this election is about the last 4 yrs, that's a muddy verdict. Bush was the president during the financial meltdown. The
Obama team has turned that around pretty well. The Clinton speech was very important in that way. How horrible was it 4 yrs ago. Romney's argument is that Obama tried to improve the economy but failed. Kristol's argument is that Obama actually succeeded in improving the economy.
Unless the economy grows much faster than the Congressional Budget Office projects, Romney would likely need to cut funding nearly in half across many areas of government by 2020.
This is exactly the point. Look closely at what this is saying. In order to maintain our federal government's promises to the nation, the economy needs to grow. We need this to happen in order to avoid very difficult cuts. This is why Republicans nominated Mitt Romney and why Mitt Romney chose Paul Ryan to be on his team. These are the guys who understand how to help get the American economy growing like we need it to. And after 3 1/2 years of his best efforts, it is clear to all that Obama does not have a capability to do that. It was the top issue in 2009, 2010, 2011 and 2012 and he has not made it happen. But Mitt Romney can. Romney/ Ryan 2012.
Only because.......Obama racked up $^ trillion in debt, in just 4 yrs........and is he is re-elected it will only get WORSE!
Cut taxes for the rich (which Romney claims he will do); Go to war with Iran (because Israel is our only friend according to Romney); expand the military. Gosh darn, even if he did away with Social Security, Medicare and Medicaid he can't balance that budget.
Romney and the clueless Republicans spin ANOTHER tale,
I don't think that would happen unless there was a whole lot more in revenue coming in (double or triple) and the spending was cut dramatically. I don't think that there is the appatite for that.
"Romney's balanced budget: Tall order"
Romney's balanced budget: Mathematically Impossible without Raising Taxes on the Middle-Class
That's how his promises add up. You can't massively cut taxes, close loopholes and get rid of deductions, spend an additional $1T or so on defense (he has promised this), spend $716B more on Medicare by getting rid of the SAVINGS PROVISIONS of the ACA (NOT CUTS...he just says that because it's the back door to de-funding the ACA by killing the funding for things like the ACA closing the perscription drug donut hole) AND yet still wind up with a balanced budget unless you tax the middle-class more...ALOT MORE. THE NUMBERS DON'T LIE.
There is no way Romney can balance the budget while he is surrounded by Bush advisers who tanked the economy. Even the blind can see this through the lens.