Romney to give spending, deficit speech Friday
October 13th, 2012
11:24 AM ET
2 years ago

Romney to give spending, deficit speech Friday

(CNN) – Republican presidential nominee Mitt Romney will deliver a speech on government spending and the deficit on Friday, a source familiar with the speech said Saturday.

Romney has hammered President Barack Obama over government spending, the federal deficit, and national debt repeatedly, on the campaign trail, in ads, and at the first presidential debate.

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"The amount of debt we're adding, at a trillion a year, is simply not moral," he said at the first debate.

"The president said he'd cut the deficit in half. Unfortunately, he doubled it," Romney said. "Trillion-dollar deficits for the last four years. The president's put it in place, as much public debt - almost as much debt held by the public - as all prior presidents combined."

A CNN/ORC International poll found two-thirds of debate-watchers thought Romney won. Of people who watched the debate, 55% thought Romney would handle the economy better than Obama (who scored 43%), and a majority of debate-watchers thought Romney would better handle the deficit, too - 57% to 41%.

The source did not say where Friday's speech will be and refused to speak on the record because the speech has not been publicly announced.

Several weeks ago, CNN chief political analyst Gloria Borger reported Romney’s campaign was considering scheduling several key speeches on various topics, as aides tried to refocus the campaign and as it tried to sharpen Romney’s differences with Obama. On Monday, the GOP candidate delivered a major foreign policy speech criticizing the Obama administration.

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Filed under: 2012 • Debt • Deficit • Mitt Romney
soundoff (56 Responses)
  1. Anthony

    Romney says that he will balance the budget. But he will cut taxes by 20% across the board (which decreases revenue) and increase military spending by more than 1 trillion (which increases spending), while not identifying spending cuts (except things on the conservative hit list, like public television and Planned Parenthood, which are like a drop in a bucket compared to Romney's planned increase in military spending). Romney's economic plan is all gains and no pains. For an analogy, if a person wants to lose weight (comparable to a government wanting to reduce its debt), the last thing he will do is to eat more ice cream (more tax cuts and military spending) while refusing to commit to any meaningful exercise (no meaningful spending cuts). When a used car salesman tells you that you can pay less and get a car as good as new, beware.

    October 13, 2012 11:36 am at 11:36 am |
  2. lance

    you wont see obama talking about national debt or unemployment or the flood of immigrants that has saturated the nation, instead yule see all his entertainment hollywood liberal buddy's parading for him and lying about the good job on the economy he's fixed.

    October 13, 2012 11:38 am at 11:38 am |
  3. truth hurts

    Meanwhile Obama talks about the truly important issues threatening the country.... Big Bird.

    Time to flush this truly worthless leader from behind down the toilet and MOVE ON AMERICA. This country needs a REAL LEADER and his name is Romney.

    October 13, 2012 11:43 am at 11:43 am |
  4. Yonni

    We will expect to hear his moral deficit speech
    We will expect to hear his moral deficit speech
    This guy abandoned his country in time of need during Vietnam war
    He out sourced American job for higher marginal profit
    He bankrupted American company and was a source of misery for so many hard working family
    The people he out sourced their job and fired from their job he call them the 47% moochers
    He used the Libya tragedy to score political point, while Americans are dying for their country in foreign soil.
    He has no core, moral value or a soul to rely on and he lies constantly, flip-flop in a second like the transformer machine

    He chose a kid for VP who is a student of Ayn Rand an antisocial who thinks poor are a cursed people
    who doesn’t care to harm American citizens by reducing their health care to voucher and by cutting education and social services

    October 13, 2012 11:52 am at 11:52 am |
  5. M W Horst

    A Democratic president Proposes, But A republican congress disposes

    October 13, 2012 11:58 am at 11:58 am |
  6. stillcrazy

    romney doesn't know the difference between the debt and the deficit. the debt has gone up under obama. but the deficit has gone down. bush's last budget, 2009, had a deficit of 1.4 trillion $. the current deficit is $300,000,000 less. romney can't claim this is doubling the deficit. does he really not understand the meaning of the two terms?

    October 13, 2012 12:01 pm at 12:01 pm |
  7. Wire Palladin, S. F

    Who better to talk about deficits than the failed governor of MA. He added $2.6 billion to the MA debt in 4 years, outsourced MA government jobs to India, raised taxes on those who could least afford it 700 times in MA, and left with an approval rating in the lower 30%? Don' forget, if not for government bailouts, Mittens would have run Bain into bankruptcy.

    October 13, 2012 12:04 pm at 12:04 pm |
  8. Daniel

    "The president said he'd cut the deficit in half. Unfortunately, he doubled it," Romney said. "Trillion-dollar deficits for the last four years. The president's put it in place, as much public debt – almost as much debt held by the public – as all prior presidents combined."

    Let's keep quoting this since EVERY fact-checker has called it a lie.

    October 13, 2012 12:05 pm at 12:05 pm |
  9. joe

    Romney giving another speach. Big deal who wants to listen to this lier drone on and on and say nothing. This is the guy that can't show us his tax returns. and keeps his money off shore. Try bringing some jobs home mittens. Sick of this lier and his buddy .

    October 13, 2012 12:07 pm at 12:07 pm |
  10. truth hurts

    Obama and the Democrats have lined this country up for a financial disaster in January. Obamacare's TWENTY NEW TAXES will kick in, Obama's tax cuts that he signed into law 2 years ago will expire, his gimmick payroll tax reduction will expire, and the economy is BARELY growing (1.3%).

    We supposed to be at 5% unemployment and have a thriving economy by now but Obama and the Democrats have FAILED. Now all their spending and gimmicks are set to slam the American people with TRILLIONS in tax hikes which will suck all that money out of the disposal income of Americans.

    The stagnant Obama economy will turn into the Obama recession. But I'm sure he'll propose another, BIGGER bogus "stimulus" plan to spend our way to prosperity. It is all this clueless clown knows how to do. If he is re-elected, you can kiss this country good bye. If you thought 2008 was bad, you ain't seen nuthin' yet!

    October 13, 2012 12:08 pm at 12:08 pm |
  11. Gurgyl

    Bain-Capital talks of all. This idiot ships jobs to china. Eliminates SS, Medicare, healthcare, planned parenthood etc.,

    October 13, 2012 12:08 pm at 12:08 pm |
  12. ExRepublican

    Romney is disgrace to our country he want a another war.
    It took Romney 17 day to say he was wrong about the 47% comment.
    Romney could tell me anything because Iam voteing for Obama/Biden

    October 13, 2012 12:10 pm at 12:10 pm |
  13. MaryM

    Keep in mind people, Romney cant do any of these things he is promising to do without Conngress.
    Also, Remember who is apart of this do nothing congress , thats right Congressman Lyin Ryan

    October 13, 2012 12:10 pm at 12:10 pm |
  14. rs

    I wonder how Romney will spin his economic plan now that The Atlantic has blown the lid off of his six economic specialsits who suppossedly endorsed his wackadoodle plan- but in fact have not.
    All have said he cannot cut taxes 20%, trim loopholes and increase Defense spending without blowing the defict up.

    Thanks for playing, Mr. Romney

    October 13, 2012 12:13 pm at 12:13 pm |
  15. chris87654

    Will see if Mitt uses this speech to give numbers that show his dream will work, though it's doubtful since a 20% ATB tax cut and doubling defense spending will happen fast, and more revenue due to "creation of jobs so 12 million more workers will be paying taxes" [4 million alledgedly very quickly by the energy sector] and discontinuation of tax "loopholes" and deductions will take more time [since we don't know what these are and it's a major deal to change the tax code]. Mitt's spending would precede any increase in revenue. I suspect fed spending will be decreased by turning over responsibility to states and possibly issuing "vouchers" to help states pay for it, but this too is a mystery (we do know Mitt wants states to deal with Medicaid – education and infrastructure costs would also be on the table).

    Anyway, we'll see if Mitt brings numbers or just more talk.

    October 13, 2012 12:20 pm at 12:20 pm |
  16. Neutral Observer

    People need to understand basic economics of growing economy. How do you increase revenue by decreasing taxes? Decreased taxes will grow the economy, so even though tax percentage is down, total amount to be taxed is greater. People don't appreciate how much the economy grew when Ronnie R backed off on taxes. People gripe how bad it was but the truth is that it doesn't matter how much you increase revenue if you also increase spending. So the problem is too much spending. I agree with taking care of elderly and disabled, but not a penny for young able bodied loafers.

    October 13, 2012 12:22 pm at 12:22 pm |
  17. doug

    Democrats in California debating each other need a sheriff to break them up before they start swinging, Biden during the debate showing the Democrat mentality of rudeness, lack of class, and total inability to act humane.

    Democrat teachers mimicking their Democrat masters by screaming at a student for wearing a Romney shirt and getting the whole class to bully the young girl.

    The way Democrats act explains why they do what they do on the roads in America's most Democrat areas. Driving while Democrat causes more harm and injury than the Democrat gangs of Chicago, Detroit, and DC where they are instructed and overlooked by the Democrat politicians.

    Just look at cities like Detroit and what complete 100% Democrat rule for the last 4 decades has led to , you want America to be Detroit, you want your local neighborhood or town to be ruled by Democrats where 26 people are shot in one weekend, then vote Democrat.

    October 13, 2012 12:22 pm at 12:22 pm |
  18. pcalif

    No one of course, wants to see or hear these boring, silly speeches by Romney but his campaign believes Americans will think he is President and/or presidential.

    October 13, 2012 12:28 pm at 12:28 pm |
  19. Againstbiasedcoverage

    Romney's plan to grow the economy is to work with Dems in congress. What about if the Dems decide they don’t want to work with him to make him a one term president! How will his plans then work? Just running the mouth claiming working bi-partisan will grow the economy is not a strategy it’s based on a false reality. We need specifics not rhetoric.

    October 13, 2012 12:28 pm at 12:28 pm |
  20. Againstbiasedcoverage

    CNN analysts are biased and GOP supporters. The likes of David Gergen (A beneficiary of Bain Capital), John King a diehard GOP over the years. They shape their analysis hoping that voters are stupid.Nov 6 they will wake up to a shock. Obama/Biden will get to 271 electoral votes easily.

    October 13, 2012 12:28 pm at 12:28 pm |
  21. jen

    Romeny can talk about it, but still won't give the facts on how he is going to do it.

    October 13, 2012 12:32 pm at 12:32 pm |
  22. ST

    Advisers on Romney camp seem to be not capable of what they are doing.
    Romney was sent to foreign tour, unfortunately it turned out flat. He had recently had a special special speech on foreign matters, again unfortunately nothing was achieve from the attempt. How come now they are turning on "Deficit Speech" which his so-called brain of that criteria (Ryan) was not able to defend or give specifics during debates.

    October 13, 2012 12:35 pm at 12:35 pm |
  23. Tony

    Big Bird is just the first thing Romney will cut. He has already change his tune about the 47% of people who don't pay income tax, saying now that he is completely wrong about the 47%, less than one month after saying that he stood behind his 47% comment. What makes people think that he won't change his mind about the 47% again, once the election is behind him?

    October 13, 2012 12:39 pm at 12:39 pm |
  24. Thomas

    @lance
    you wont see obama talking about national debt or unemployment or the flood of immigrants that has saturated the nation, instead yule see all his entertainment hollywood liberal buddy's parading for him and lying about the good job on the economy he's fixed.

    --

    Lance did you vote for GW BUSH , tell the Truth !

    October 13, 2012 12:39 pm at 12:39 pm |
  25. the situation

    truth hurts
    Meanwhile Obama talks about the truly important issues threatening the country.... Big Bird.

    Time to flush this truly worthless leader from behind down the toilet and MOVE ON AMERICA. This country needs a REAL LEADER and his name is Romney.

    October 13, 2012 11:43 am at 11:43 am |

    You need to ask the people of the state of Massachusetts what a effective leader your candidate was. The number 47 is a very popular word for ole Mitts since he talked about 47% of American are useless and freeloaders and that was the same number that his state was in job creation when he left office.

    October 13, 2012 12:39 pm at 12:39 pm |
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