Obama and Romney on taming deficits
October 16th, 2012
03:14 PM ET
10 years ago

Obama and Romney on taming deficits

NEW YORK (CNNMoney) - Whoever wins the presidential election on Nov. 6 will be under pressure to tame federal deficits. And the subject, directly or indirectly, is likely to come up during Tuesday's town hall debate between President Obama and Mitt Romney.

Indeed, the candidates share a similar goal when it comes to the federal debt: They say they want to get it under control.


Filed under: 2012 • Deficit • Mitt Romney • President Obama
soundoff (29 Responses)
  1. Gurgyl

    I do not believe a single thing from that Bain-Capital idiot.

    October 16, 2012 03:19 pm at 3:19 pm |
  2. Rick McDaniel

    Romney will work on the deficit.

    Obama will simply continue to run it UP!

    October 16, 2012 03:24 pm at 3:24 pm |
  3. the REAL TRUTH...

    Hey Ricky.... Obama has actually REDUCED the deficit, by 38% !!
    Please check your facts before spouting..

    October 16, 2012 03:30 pm at 3:30 pm |

    Obama has already proven he can't tame anything.

    ROMNEY / RYAN 2012

    October 16, 2012 03:32 pm at 3:32 pm |
  5. RealityBites

    After 4 years, Obama has yet to even get a budget passed. Only fools are fooled twice by the same line..

    October 16, 2012 03:33 pm at 3:33 pm |
  6. Phil

    Broken Promises from the 2008 Obama Campaign
    1) Guantanamo Bay
    2) Letting Bush-Era Tax Cuts Expire
    3) Foreclosure Prevention Fund
    4) Immigration Reform
    5) Cut the deficit in half
    6) Will not let the jobless rating go over 8%
    7) would not have any lobbyist money in his campaign
    8) create 5 million new jobs in renewable energy
    9) cut spending on stem cell research
    10) Put big Coal out of business
    11) Fairness Doctrine
    12) Bipartisan Pledge
    13) Would not run negative ads

    October 16, 2012 03:40 pm at 3:40 pm |
  7. Bill from GA

    Nothing will b accomplished on this matter until Congress decides to work together. As it is, each side only wants to find something to blame the other for.

    If cutting government is the answer, let Romney tell us what he will cut.

    The only viable solution will include cuts and revenue, and much growth in the economy. The economy was growing at around 5% following the Stimulus, yet romney and his bunch claim the Stimulus was a total failure (As ryan wanted more for his state.)

    October 16, 2012 03:43 pm at 3:43 pm |
  8. Sniffit

    Mittens also wants to tame America's women.

    October 16, 2012 03:45 pm at 3:45 pm |
  9. Sniffit

    Mittens also wants to tame America's women.

    "Aaaaw, honey, you're so cute when you think yuo have rights..."

    October 16, 2012 03:50 pm at 3:50 pm |
  10. Sniffit

    "Hey Ricky.... Obama has actually REDUCED the deficit, by 38% !!
    Please check your facts before spouting.."

    Have no fear. Now that you've pointed that out, his retort will be to switch from "Obama's raised the deficit DERP DERP DERP!!!!!" to "the GOP did all the deficit reduction"...and we'll be back at square one showing how he's lying because of what really happened and the timeline that shows it wasn't the GOP.

    October 16, 2012 03:52 pm at 3:52 pm |
  11. Thomas

    @Critical Thinking

    I guess you will be fooled again. What is the defintion of insanity? Oh yes, doing the same thing over and over again but expecting the same outcome.

    Thomas = fooled again = insanity

    Great Spin Critical Thinking , give Karl a kiss for me !
    GW Bush making the following statement: Fool me once, shame on — shame on you. Fool me — you can't get fooled again.

    Bush: U.S. economy is thriving
    The president credits tax cuts with helping the U.S. economy grow.
    August 8 2007: 2:35 PM EDT
    President Bush said Wednesday the U.S. economy is thriving and he is doing what it takes to keep it strong.

    The president spoke with economic advisors at the Department of Treasury and discussed how the United States' economy has flourished and played an important role globally.

    Key to success is learning from our mistakes , key to failure is returning to the GW Bush failed policy. Since most of Romney's advisers worked for GW Bush , I'd say thats returning to Insanity wouldn't you ?

    Critical Thinking = Karl Rove

    October 16, 2012 03:53 pm at 3:53 pm |
  12. Gurgyl

    47%., watch this idiot on YouTube "when mitt Romney came to town" and http://www.mittvmitt.com., enjoy.

    October 16, 2012 03:53 pm at 3:53 pm |
  13. Mark

    I like when people lie to me. I like it when they think they are smarter than I am. Math scares me, so I like to leave it to others to figure out. I think fiction written by a Russian is a great template for an economic/political system. When I watch the news I don't care what they tell me, as long as the news anchor is really hot. And I'm also a closet racist. So I'm voting for Romney/Ryan baby!

    October 16, 2012 03:57 pm at 3:57 pm |
  14. rosco

    We are leaving in 2014, period, and in the process, we're going to be saving over the next 10 years another $800 billion," Biden said. "We've been in this war for over a decade. The primary objective is almost completed. Now all we're doing is putting the Kabul government in a position to be able to maintain their own security. It's their responsibility, not America's."

    Marc Grossman, the State Department's special representative for Afghanistan and Pakistan, explained today that's not the whole story

    October 16, 2012 03:58 pm at 3:58 pm |

    FACT: President Obama has cut the deficit!

    Look at the deficit when he came into office and look at it now. CNN, you are losing serious credibility seriously.

    October 16, 2012 04:01 pm at 4:01 pm |
  16. drake mallard

    “we have a national debt that’s out of control, they send us to wars we shouldn’t be fighting in.

    I can't believe that people are stupid enough to fall for this.Romney says he's going to create, well how many million jobs? that's total hogwash, and I'll tell you why. The only thing a government official can - can create is a government job. So if he's going to create 12 million new jobs, they're going to be paid for by taxes. Because jobs are created.Jobs are created in the private sector. Not by the president or the government unless they're government jobs.

    October 16, 2012 04:02 pm at 4:02 pm |
  17. drake mallard

    Paul Ryan Insists He Didn’t Take Stimulus Money, Then Realizes He Totally Did

    October 16, 2012 04:03 pm at 4:03 pm |
  18. al in memphis

    Quite a list you got there. I wonder why you did not include
    1. Reduce deficit spending every year since 2008. Slowing the growth of the debt every year.
    2. Instead of losing 750,000 jobs per month, there is some job growth in the private sector
    3. Stock market has double in value from the mid-6500 to almost 14,000
    4. Banking and Wall street reform
    5. Perform his job while the legislative branch was on a 3-year mutiny
    6. Save GM and the business that support the automotive industry
    7. Put a $4trillion deficit reduction bill on the table that our congressional leaders could let pass because it call for more revenue.
    I leave out the other minor things like health care where insurance companies had to spend a specific amount administering health care instead of just pocketing all they could while denying coverage. Also, keeping banks from fleecing customers through charging whatever fees they wanted for credit card debt. Also, minor things like bringing these wars to an end.

    October 16, 2012 04:10 pm at 4:10 pm |
  19. rs

    Some truth:

    The only time the defict has been reduced has been under Deomocratic leadership in the last 30 years. Under both Clinton and Obama the deficit has gone down. Under Reagan and Bush Sr. and Jr. it went up.

    Mr. Romney won't tell it that way, but he only has a nodding acquanitance with the truth.

    October 16, 2012 04:15 pm at 4:15 pm |
  20. Wire Palladin, S. F

    In an earlier post, Howard made up a ridiculous story about leasing a car to a person on disability. What is amazing is that Howard probably owes his job to Obama for the "cash for clunkers' program and the auto bailout. Howard, can you say "Thank you President Obama?"

    October 16, 2012 04:18 pm at 4:18 pm |
  21. AzDem

    Vote for Robmey/Boy Wonder! Get want you deserve. Cannot build up the Navy and cut taxes the same time!

    October 16, 2012 04:21 pm at 4:21 pm |
  22. rs


    Broken Promises from the 2008 Obama Campaign
    1) Guantanamo Bay

    The Gop wouldn't let Guantanamo close

    2) Letting Bush-Era Tax Cuts Expire

    The GOP held middle class tax cuts hostage until the rich got theirs-First!

    3) Foreclosure Prevention Fund

    Requires Congress Act

    4) Immigration Reform

    Requires Congress Act

    5) Cut the deficit in half

    Not in half, but it has gone down

    6) Will not let the jobless rating go over 8%

    Prediction-not a promise (hard for you to grasp the nuance...)

    7) would not have any lobbyist money in his campaign

    Sure, and let Edelson and the Koch Brothers BUY the election?

    8) create 5 million new jobs in renewable energy

    5.2 million new jobs- some in renewables

    9) cut spending on stem cell research

    Not a promise

    10) Put big Coal out of business

    Not a promise

    11) Fairness Doctrine


    12) Bipartisan Pledge

    Hard to be bipartisan when Boehner and McConnell vow ON INGUAGURATION Day to make Obama one-term President BY NOT WORKING WITH HIM.

    13) Would not run negative ads

    Not a promise- but again given the GOP's mud- What do you expect?

    Thanks for playing... Try facts- they work better.

    October 16, 2012 04:24 pm at 4:24 pm |
  23. Sniffit

    "CNN, you are losing serious credibility seriously."

    They're not after YOUR viewership. The ONLY thing CNN cares about at this point is trying to suck some Faux viewers away from Faux.

    October 16, 2012 04:26 pm at 4:26 pm |
  24. MrBeenThere

    The Republicans have no clue to what a truth is ............. so anything said would be lost on them.......... Bush once said that History will show the truth about him, he was right, he was the worst President in modern History. The same well be true with President Obama, it well be said how racist's and bigot's were blind and didn't see what truly great accomplishments our first black President made for Americans and there country.

    October 16, 2012 04:27 pm at 4:27 pm |
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