This page has spilled lots of ink criticizing President Barack Obama for running up federal budget deficits and the national debt — currently north of $15 trillion. Now comes a report from the nonpartisan Committee for a Responsible Federal Budget saying his main Republican challengers would do even worse.
Apart from longshot candidate Ron Paul, the major contenders for the Republican nomination score poorly in a carefully researched evaluation of their economic plans.
GOP hopefuls Mitt Romney, Newt Gingrich and Rick Santorum are touting policies that would push the debt well beyond current projections, largely because their proposed tax cuts would outweigh spending cuts, the budget watchdog group reports.
Under Obama's proposed budget for the fiscal year that starts Oct. 1, the nation's public debt would rise to 80 percent of gross domestic product over the next decade, from about 70 percent today. Gingrich's plan would push that debt load to 114 percent of GDP, Santorum's to 104 percent and Romney's to between 85 percent and 96 percent. Paul's plan would put the debt at 76 percent of GDP.
Read more: http://www.chicagotribune.com/news/opinion/editorials/ct-edit-debt-0227-jm-20120227,0,3684868.story
Apart from longshot candidate Ron Paul, the major contenders for the Republican nomination score poorly in a carefully researched evaluation of their economic plans.
GOP hopefuls Mitt Romney, Newt Gingrich and Rick Santorum are touting policies that would push the debt well beyond current projections, largely because their proposed tax cuts would outweigh spending cuts, the budget watchdog group reports.
Under Obama's proposed budget for the fiscal year that starts Oct. 1, the nation's public debt would rise to 80 percent of gross domestic product over the next decade, from about 70 percent today. Gingrich's plan would push that debt load to 114 percent of GDP, Santorum's to 104 percent and Romney's to between 85 percent and 96 percent. Paul's plan would put the debt at 76 percent of GDP.
Read more: http://www.chicagotribune.com/news/opinion/editorials/ct-edit-debt-0227-jm-20120227,0,3684868.story
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