BDBoop
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FACT CHECK: Romney ignores a huge recession and other causes of nation’s mounting debt - The Washington Post
THE FACTS: Romneys tax and spending plans dont support his vow to dampen the debt fire. He proposes to cut taxes and expand the armed forces, putting yet more stress on the budget, and his promise to slash domestic spending isnt backed by the big specifics. Romneys tax plan would cut the top income tax rate to 28 percent from 35 percent and other rates by 20 percent each. He says hed broaden the tax base and eliminate many deductions in the process, but details are missing.
A study by the nonpartisan Committee for a Responsible Federal Budget concluded earlier this year that Romneys plans would not make a dent in deficits, and could worsen them considerably. That study was done before Romney upped his tax cuts, inviting even deeper debt.
Thats not to say he cant at some point lay out the spending cuts necessary to achieve his aims. But he would have to slash domestic programs by more than 20 percent far more than the 5 percent in immediate cuts he has proposed. It is nearly unthinkable that Congress would approve the evisceration of basic federal functions such as food inspection, air traffic control, the Border Patrol, FBI, grants to local governments, health research, housing and heating aid for the poor, food aid for pregnant women, national parks and much more.