Analysis: Romney's Plan Will Balloon The Deficit And Radically Increase Debt

[Hacp]

No one particularly well informed is surprised his plan increases the deficit. Granted, his plan has very few specifics, so who the hell can really be sure.

Except that this was a back of the envelope calculation armed with mere speculation. I assume a high margin of error. This is not newsworthy.

 

[thraashman]

Keep squirming instead of saying anything about the topic at hand. I guess that's all you have left at this point.

The only time he has anything to say is when he's welching on a bet.

 

[thraashman]

Lies. Stop implying Romney has a plan!

This may be the most accurate comment you can say about this topic.

 

[Phokus]

If Romney were president, our deficit would dwarf all other presidencies combined because not only would he cut taxes, he'd probably invade Iran as well. Republicans don't believe in paying for their foreign policy fuckups.

 

[trenchfoot]

If Romney were president, our deficit would dwarf all other presidencies combined because not only would he cut taxes, he'd probably invade Iran as well. Republicans don't believe in paying for their foreign policy fuckups.

Oh they do...they do. Just not on their watch and not at the expense of the rich who profited immensely from their wars-for-profit. I mean, you wouldn't expect the very rich to give anything back for the blood-for-cash orgy us poor taxpayers treated them to, do you?😉

 

[K1052]

The US already spends 4.7% of its GDP on its military...at least according to the Stockholm International Peace Research Institute.

http://en.wikipedia.org/wiki/List_of_countries_by_military_expenditures

War costs rolled in. Base budget is about 3.5% of GDP.

 

[K1052]

Romney knows which programs he wants to cut, but won't say so due to political reasons. With some luck, we might be able to get rid of Social Security and Medicare all together, as well as a large part of our military budget. Those three make up a significant portion of our federal spending, they constitute most of the fat.

More beef I have with the analysis. It states that they will assume accelerating growth. They they state they will assume steady growth. Finally, they have steady growth in their calculations. Do these guys even know what accelerate means?

Bottom line is that these back of the envelope economic analysis are pointless. It is all made based on assumptions made without any backbone, and in this case, 1 or 2% in growth make all the difference in the world.

So unicorns and pixie dust eh?

Eliminate SS, Medicare, and the Military. Why didn't anyone thing of this before.? It's so simple. lol

 

[halik]

"We also did not accept Romney's premise that he will cut federal spending to 20% of GDP by 2016 from the current 24%. Again, Romney has not identified a single government program that he wants to cut (other than general non-defense discretionary spending, which is already at an all-time low as a percent of GDP). We assumed instead that Romney will reduce government spending to about 22% of GDP, not all the way to 20%."

They met him half way, which seems generous given that he has given no specifics on how he plans to reach that level of spending cuts.

SHOCKER: If i exclude some things that I chose, Romney's plan will increase the deficit. That's akin to saying that Obama will triple the deficit, with the assumption he'll start listening to Pelosi/Progressive plan.

 

[Spungo]

Lib 1: "Obama failed...quick, we must divert attention to something else! Wait, I know, rather than continue to say Romney does not have a plan, lets instead say he does but it is not nearly as horrible as Obama's plan!"

Lib 2: "Great idea...wait, you mean not as bad as Obama's plan, right?"

Lib 1: "Oops, got confused between reality and our diversion, sorry, yes, that is it!"

In agreement, Lib 1 and Lib 2 go forth to tell the other libs what they must think and say this week.

I guess that settles the argument. Romney's tax plan is not a giant debt hole because you say so.

 

[rudder]

I was reading something the other day arguing that we have a right to life, liberty, AND the pursuit of happiness!! Can you imagine the sort of welfare queenery that will generate? Life requires food, it usually requires housing, it certainly requires healthcare, and 'pursuit of happiness' sounds like liberal buzzwords for equal opportunity in education and reducing employee discrimination and unequal pay for equal work!

Let's find thousands of people willing to spend ten years in school to become doctors then work for free... so everyone can enjoy the right to healthcare. Let's find thousands of farmers willing to get up at 4 a.m., work all day, spend their own money on gas and fertilizer, so we can all enjoy our right to be able to eat. Let's find some carpenters willing to work for free and buy us concrete and wood to build houses so we can enjoy our right to housing.

Life, liberty, and the pursuit of happiness! Oh yeh and free beer for all. I would really be happy then.

 

[Pens1566]

This isn't news. When you plan to cut taxes by 4 trillion while increasing defense spending by 2 trillion without identifying ANY cuts, what did you expect?

 

[Hacp]

So unicorns and pixie dust eh?

Eliminate SS, Medicare, and the Military. Why didn't anyone thing of this before.? It's so simple. lol

Its simple, but you got old people and disabled people complaining that they can't leech off the back of the common taxpayer. Politicians listen to complainers.

 

[Icepick]

This isn't news. When you plan to cut taxes by 4 trillion while increasing defense spending by 2 trillion without identifying ANY cuts, what did you expect?

haha so true
Newsflash: A spending plan supported by a Republican will balloon the deficit. As if this will be the first time the so-called "fiscally conservative" party will do this. As if Reagan, George H Bush, George W Bush and company didn't radically increase the deficit with their horrible tax/spend policies.

 

[Hacp]

haha so true
Newsflash: A spending plan supported by a Republican will balloon the deficit. As if this will be the first time the so-called "fiscally conservative" party will do this. As if Reagan, George H Bush, George W Bush and company didn't radically increase the deficit with their horrible tax/spend policies.

Anyone can come up with cuts. Heck, I have one thought of in 1 minute. Get rid of income and payroll taxes. Get rid of 95% of federal government workers. Fire the other 5% and hire them back for 50% of the pay. Finally, end SS/Medicare and drastically reduce the size of the military budget to China Levels.

 

[Anarchist420]

If Romney were president, our deficit would dwarf all other presidencies combined because not only would he cut taxes, he'd probably invade Iran as well. Republicans don't believe in paying for their foreign policy fuckups.

Obama has already invaded the strait of hormuz, which means that he will invade Iran soon.

 

[Pens1566]

Obama has already invaded the strait of hormuz, which means that he will invade Iran soon.

Fifth fleet has protected the straights of Hormuz for years. Obama invasion not found.

 

[Matt1970]

Debt was 100% of GDP in January 2012, not 70% like this graph suggests. I also see a massive increase in spending since Obama took office and a small sliver for Romney's "projected" share. I am sure the Liberals will something else here.