Mitt Romney's numbers just don't add up.
The Republican presidential nominee is insisting he'll cut $7 trillion from the country's budget without adding to the deficit or hiking taxes on the middle class. The Washington Post's Ezra Klein broke down the proposals within Romney's budget plan on MSNBC, declaring it simply looks "like a fantasy."
Romney has said he'll bring federal spending under 20% of the overall economy and cap it there by 2016. That amounts to a jaw-dropping $7 trillion in 10 years, Klein explained.
Meanwhile, the former Massachusetts governor has said he'll make the cuts without funneling cash from Medicare and Social Security. He also plans to increase defense spending by $1 trillion."It's like the Ryan budget on steroids," said Klein, referring to Republican vice presidential nominee Paul Ryan's sweeping budget proposal, which calls for $5 trillion in cuts.
But here's the thing: For Romney to make his proposed cuts, it means he'd have to cut every single federal program that's not Social Security, Medicare or defense by an average of 40% in 2016, said Klein.
That includes programs like Medicaid, education, NASA, veterans' benefits and transportation."There's no way he's going to cut all of that by 40%," said Klein.
So Romney, of course, could raise taxes to make the difference. The problem, however, is Romney wants to extend all the Bush tax cuts and slash marginal rates on top of that by another 20%.
That would mean the top 1% of earners would get $150,000 off their taxes in 2016. The government would also lose almost $5 trillion in revenue over the next 10 years. On top of that, there would be a tax increase on the poorest Americans because the stimulus tax rates would expire, Klein explained.
The non-partisan Tax Policy Center, Klein noted, also says Romney's plan is "not mathematically possible."
Klein explained Romney has three choices if he wants his plan to work. "He has to make the tax cuts smaller, raise taxes on the middle class to cover tax cuts for the rich, or he can add to the deficit."
Now you know.
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As per his usual, Ezra Klein was brilliantly specific, and outstandingly clear, on the numbers issue. The Washington Post and MSNBC have a real strength, in having Ezra on their Team.
I wouldent believe obama himself without checking, but I belive everything ezra says Ezea you are the man
He is very informative and tells it like it is and you can understand when he puts a point across.
The whole Romney/Ryan budget proposal is simply a fantasy of fiction. Romney wants to make the very expensive Bush tax cuts permanent, increase defense spending but make cuts of up to $5 trillion in all other federal government spending over ten years. Romney's budget proposals are nothing but poppycock and dangerous self delusion. If you want to cut federal spending by 40% there won't be any government left for people to rely on. Essential services such as law enforcement, courts, research and development, college loans and other important aspects of the social safety need will be totally erased. Plus Romney would end up raising taxes on middle class people while millionaires and billionaires get huge tax cuts even above and beyond what Bush had in his tax cuts. None of these things will happen because way too many people will be crushed by these budget proposals. So what we are really saying about Romney is that he has no realistic budget ideas at all that add up to anything that might be construed as real. It is also safe to say that for a business CEO the Romney/Ryan budget proposals are nothing short of extremist and radical. Radical things historically have a way of blowing up in the face of those who propose them.
Ezra always does a good job.
It doesn't really matter. Democrats already know, and Republicans don't care.
BREAKING -- Clint Eastwood: Mitt Romney Should Not Be President
Source: sunshine state news
Hollywood actor and director Clint Eastwood may not have meant to, but in his surprise speech at the RNC this evening, he effectively said the GOP nominee should not be elected President.
"I never thought it was a good idea for attorneys to be president." {Source}
Of course, he meant this as a humorous swipe against Democratic incumbent Barack Obama, who graduated from Harvard Law School and was admitted to the Illinois Bar in 1991.. But someone at the RNC should have vetted the remarks ahead of time. Here's why: Romney received his Juris Doctorate from Harvard in 1975, and was admitted to the Michigan Bar later that same year.
"I never thought it was a good idea for attorneys to be president."
Ouch.
Read more: www.sunshinestatenews.com
By: trailmonkee
The only way Republicans can tell the truth is by accident.
Of course I already knew that this 'plan' would not work Ryan seems to think that he can 'sell' his 'path to poverty' by saying it will balance in 28 years that is 'assuming' that the GDP does not change, or inflation does not rear its 'ugly head' and interestling enough he will 'save' money by turning medicare into a voucher system and cutting social security benifits he calls entitlements. Not earned benifits.
Clinton balanced his budgets without cutting medicare or social security and we had a surplus and this was just two short years after he raised taxes. Not 28 long hard years where one can forget what a surplus looks like.
The Vulture/Voucher ticket is pusing a snake oil budget they seem to think that just by saying they'll save us money we should actually believe it.
Mr. Romney your speech sucks. So does your crummy budget.
Think Germany in the 1930's and look what it got them a Madman!!!!!!!!!!!! Robme/Ryan is a close second!!!!!!!
Robme/Ryan is dangerous people WAKE UP!!!!!!!!!!!!!!!!!!!!!!!! IF HE GUTS ALL PROGRAMS.AND A TONS OF OTHER GOV. AGENCIES LIKE NOAA and NASA WE ARE ALL IN BIG TROUBLE !!!!!! Austerity is what is going on the Europe. This country will not survive Austerity measures.
we can't survive obamas spending, when was it ok to spend us into poverty, is that how you run your budget at home?
Bush made the BIG MESS!!!!!!!!!!! 2 Wars ,A drug program not paid for!!!!!!!!!!! TAX CUTS FOR THE RICH!!!!!!!!!!!!!!!!!!!!!!!!!! Should I go on !!!!!!!!!!!!!!!!!!!!!
What spending is that unrealistic? Really once again we see another tea bagged republican who just doesn't know 5th grade civics.
Barry has had 4 years to fix the issue and how has he done? Now Honestly, how has he done, is the National Debt any smaller and has he implemented his own tax cutting measures, oh that's right he has continued to renew The Bush Tax Credit, yep he is brilliant.
Oh and I always get my economic analysis from a poly sci major who is taking his information from a source that certainly has no hidden agenda to try and disprove the opponents facts. Also, the government is certainly big enough and has enough overlaps that cutting Across The Board will be a much smaller cut than trying to single out that he is only going after a handful of departments..
At least try to use realistic facts when making an arguement Ezra, and being a blogger does not make you a journalist, not that there are many of those anymore...
UnReal - It took almost 30 years to get us into this mess, starting with Reagan. First he gets banking laws changed, then he gets the tax code revamped and the Republicans have been tinkering with constantly to favor the rich. Then the Republican administrations cut taxes but not spending and don;t even talk about earmarks- the Repubs were the real masters of those. That is what gave us the deficit we have today. Grover Nrodquist is hell bent on setting us back 100 years, but that ain't a gonna happen.
Law enforcement doesnt have to worry about tax cuts affecting them..they have un bridleded power to enter anyones home looking for durgs...offered up by some druged out informant...givng them power to break into your home kill your dogs handcuff your aging mother or grandmother and your young children and ransak your house take or freeze all your assests and even drive off in your new car all in the name of the law...many of you can recover some of these things mabey not it will take time and money to get justice and you can forget about justice..the police are licensed to kill and steal all they want to in the name of justice.....so dont get excited when politicians talk about defunding the police departments ...trust me they will get their fair share of the profits..by ripping off law abiding citizens..they dont really care if your inocent or not it doesnt matter as long as they can have their way with you and be sancioned by the powers that be...
Police state here we come!!!!!!!! Just to name a few that come to mind, 1984, V for Vendetta, Demolition Man, We will be eating r at Burgers and The Rich Will be Eating Taco Bell!!!!!!!!!!!!!!!!!!! PEOPLE WAKE UP!!!!!!!! THIS IS NOT A DRILL !!!!!!!!!!!!!!!!!!!!!!!!!!!
Did you just experience an arrest ......ak..?
Nah the DNC has a movie out about how the GOP for 40 years have created a prison industry that has more Americans behind bars then Russia and China. They call it where tax payers money really goes and how the GOP has created the whole thing by using fear of anyone labeled criminal. Never mind facts like the plea bargain made it easier for the GOP to lock poor people up while cutting back on public defenders, so today the majority of people locked up took the plea bargain on the advice of public defenders who have few resources to defend people arrested.
I can't stomach republicans! Lying bunch of scoundrels! Newt Gingrich hollering and condemning the poor while he in his costly suit can't hide his slothful, lazy repulsive body standing beside his 3rd wife!
Hey,whom.............let's play how many wives do republicans have and had ....
Newt 3
Reagan 2
Eastwood 4 or 5 or 6
Schwarzenegger 1 with many concubines .................................
DemE~ Eastwood's only had 2 actual wives, but seven kids from 5 women which includes the 2 wives. WOW! :(
DemElizabeth - That one wife of Ahnold was in the Kennedy clan - Democrats. He is Reuplican. How could she! I do believe that she is smarter than he is, and actually he does have some brains along with the body.
I don't see our future as negative as some above posts believe, though, the 12 million new jobs, at below minimum wage, does not sound pleasant. A Romney/Ryan ticket would obviously continue the downward spiral of all of our economy and civilization, less, of course, the further upward gains of the top 1%. Our only hope is a Democratic sweep and a super majority in the Senate.
Those 12 million jobs are not Careers and they are not worth Spit!!!!!!
During the downturn of our economy, the wealthiest's income went up by 275%, so I assume they would want it to continue.
These Repug clowns will give someone VERY RICH PEOPLE A TAX CUT AND CALL A JOB CREATORS!!!!!!!!!!!! EVEN THOUGH THEY HAVE NOT WORKED!!
I went to Home Depot last week. At the door was a very nice lady asking me are you looking for a job? I told her no but I know of some people that are looking for a job. I then asked is the job full time and the answer was no but the job had benefits. The job is 1. part time, 2. probably pays mininum wage, 3. the person's portion of more taxes and money for the benefits will be deducted from the end of the pay period mininum wage pay and 4. your take home pay will probably be no more than what it cost to get to your part time job with benefits. I applaud Home Depot but people are looking for full time jobs with benefits and take home pay that will support their families and Romney/Ryan does not support that theory especially if the Affordable Care Act is repealed. Tax cuts to the private sector was suppose to create jobs (money which they are sitting on at this moment) and Romney/Ryan want to give more tax cuts to the so-call job creators. A sh$% load of bull. Many of the jobs created are mininum wage and PART TIME. So in the end I guess you can say they are creating jobs or can you????
don't forget many of the so called good paying jobs will be created in China, leaving us to take the minimum wage jobs such as mad scientists, grave diggers (for when he implements Romneycare which is just a bucket of leeches), soup kitchen clerks, etc
these so called job creators by creating only low paying wage jobs are turning this country into one that is dependent on public assistance. Most at the bottom of the financial scale want full-time, living-wage jobs. They don't want to rely on the Government for their living standards,
I don't see how he could possibly create 12 million jobs. He has said that government cannot create jobs and now he is saying it will create 12 million of them. Interesting.......