Monday, April 23, 2012
Associated Press
WASHINGTON
Reducing government deficits Mitt Romney’s way would mean less money for health care for the poor and disabled and big cuts to nuts-and-bolts functions such as food inspection, border security and education.
Romney also promises budget increases for the Pentagon, above those sought by some GOP defense hawks, meaning that the rest of the government would have to shrink even more. Nonmilitary programs would incur still larger cuts than those called for in the tightfisted GOP budget that the House passed last month.
Differences over the government’s budget and spiraling deficits are among the starkest that separate Republican Romney and Democratic President Barack Obama. Obama’s budget generally avoids risk, with minimal cuts to rapidly growing health-care programs such as Medicare and Medicaid while socking wealthier people with tax increases.
It’s all part of an effort to close trillion-dollar-plus deficits.
Romney, by contrast, proposes broad cuts in government spending, possibly overpromising on reductions that even a Congress stuffed with conservatives might find hard to deliver.
His campaign materials give relatively few specifics, other than a pledge to bring total government spending down to 20 percent of the U.S. economy by the end of a first term in 2016.
Estimates by the nonpartisan Congressional Budget Office put current government spending at $3.6 trillion, or about 23.5 percent of the gross domestic product this year, slipping to 21.8 percent by 2016.
The math can get fuzzy. But the Romney campaign says it needs to come up with $500 billion in cuts in 2016, the target year. Overall, Romney promises to shrink the government by about one-seventh when compared against the size of the economy.
The GOP front-runner suggests raising the Social Security retirement age and reducing cost- of-living increases for better-off retirees.