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Romney Takes Swipe at Ron Paul’s Budget Blueprint, Says He'll INCREASE Military Spending!
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For a man who seems to have the Republican presidential nomination sewn up, former Massachusetts Gov. Mitt Romney’s decision to attack the policies of his only rival who has not dropped out of the race, Rep. Ron Paul (R-Texas), is curious indeed. Paul has proposed slashing $1 trillion from the federal deficit in his first year in office and balancing the budget in three years. He has argued that much of this deficit reduction could be achieved by ending America’s overseas military operations, closing foreign bases, and bringing the troops home.
Romney, however, will have none of it, reports the Washington Times.
“My job is to get America back on track to have a balanced budget,” he told attendees at a suburban Cleveland town hall event Monday. “Now I’m not going to cut $1 trillion in the first year,” he added — a clear jab at Paul’s plan.
“Why not, someone in the crowd apparently asked,” according to the Times.
“The reason,” Romney explained, “is taking a trillion dollars out of a $15 trillion economy would cause our economy to shrink [and] would put a lot of people out of work.”
This, of course, is pure Keynesian economics — the idea that the economy cannot grow without massive government spending. History proves otherwise: The economy stagnated while the government spent more and more during the Great Depression, but it took off when federal spending plummeted after World War II.
More at [link to www.thenewamerican.com]
"I think the easiest place to cut spending is overseas," Mr. Paul said at the time, reminding supporters that the nation has spent trillions in Iraq and Afghanistan. "It doesn’t make us safer. It doesn’t make us richer. It makes us poorer."
Mr. Paul's plan aims to cap federal spending at 15.5 percent of national GDP (it is currently about 25 percent of GDP) by 2016 and balance the budget in three years. Mr. Romney, meanwhile, has laid out a fiscal plan that aims to cap federal spending at 20 percent of GDP and bring the budget into balance by 2020. He, however, opposes cuts to military spending, which currently accounts for about 18 percent of federal outlays.
Speaking at a campaign stop last week in Portsmouth, Va., Mr. Romney drove home that point, saying he will add new ships to the U.S. Navy, add new aircraft to the Air Force and add 100,000 active duty personnel.
More at [link to www.washingtontimes.com]
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