Sunday, November 6, 2011

Romney Makes A Powerful Promise For 2016

 In Washington at the "Defending the American Dream Summit," Presidential candidate Mitt Romney made a very steep promise.  In what looks like a continuous effort to shrink the government, Romney promises that should he become President, by the end of his term in 2016 he will have reduced the spending levels to 20% of GDP.  Romney explained that to meet that goal, the government must find $500 billion in annual savings.

According to CNN, in an effort to fulfill this promise, Romney explained that the biggest money saver in this plan would be to place the control of medicaid into the hands of the states, and limiting the company's growth to the consumer price index.  Moreover, he included plans to slice budgeting from other sources that would specifically benefit the conservative platform such as Planned Parenthood.  He also suggested the following proposals:

- Re-structuring Social Security and Medicare, including letting seniors choose between federal coverage and private health insurance plans
- Reducing foreign aid to countries that don't need it and countries "that oppose American interests."
- Cutting the size of the federal workforce and linking government salaries to private sector salaries
- Combining wasteful government agencies
The Democratic party has already contested this proposal. In a memo from the Obama election campaign, said the Romney plan would destroy Medicare and Medicaid, enact cuts that would hurt the middle class and provide tax breaks to corporations. Moreover, "He would return American families to the failed economic policies that contributed to the years of rising inequality, stagnant wages, and eroding middle-class security," the memo said. While the constant disputes over campaign promises will continue to occur, it will be interested to see if Romney's plan is realistic or idealistic. In regards to this promise, one thing may be depended on, and that is the advancement of one party, and the disappointment of another.

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