New Video: "Wrong Choice" Romney for President released new television ad in Illinois titled “Wrong Choice.”Rick Santorum’s weakness is the economy and his economic plan has been criticized as the worst of all the GOP candidat
ever return to fiscal sanity, let alone fiscal strength. A point of no return may well be approaching — a decade of huge deficits could drive our principal payments and interest rates beyond our reach while starving the economy of the capital it needs to grow.
Fortunately, the American economy’s tremendous capacity for growth gives the country one more chance to correct course. Mitt Romney has spent his career executing turnarounds in the private sector, the Olympics, and state government. He will bring to Washington the turnaround philosophy it so badly needs.
Set Honest Goals: Cap Spending At 20 Percent Of GDP
Any turnaround must begin with clear and realistic goals. Optimistic projections cannot wish a problem away, they can only make it worse. As president, Mitt’s goal will be to bring federal spending below 20 percent of GDP by the end of his first term:
•Reduced from 24.3 percent last year; in line with the historical trend between 18 and 20 percent
•Close to the tax revenue generated by the economy when healthy
•Requires spending cuts of approximately $500 billion per year in 2016 assuming robust economic recovery with 4% annual growth, and reversal of irresponsible Obama-era defense cuts
Take Immediate Action: Return Non-Security Discretionary Spending To Below 2008 Levels
Any turnaround must also stop the bleeding and reverse the most recent and dramatic damage:
•Send Congress a bill on Day One that cuts non-security discretionary spending by 5 percent across the board
•Pass the House Republican Budget proposal, rolling back President Obama’s government expansion by capping non-security discretionary spending below 2008 levels
Follow A Clear Roadmap: Build A Simpler, Smaller, Smarter Government
Most importantly, any turnaround must have a thoughtful, structured approach to achieving its goals. Mitt will attack the bloated budget from three angles:
1.The Federal Government Should Stop Doing Things The American People Can’t Afford, For Instance: •Repeal Obamacare — Savings: $95 Billion. President Obama’s costly takeover of the health care system imposes an enormous and unaffordable obligation on the federal government while intervening in a matter that should be left to the states. Mitt will begin his efforts to repeal this legislation on Day One.
•Privatize Amtrak — Savings: $1.6 Billion. Despite requirement that Amtrak operate on a for-profit basis, it continues to receive about $1.6 billion in taxpayer funds each year. Forty-one of Amtrak’s 44 routes lost money in 2008 with losses ranging from $5 to $462 per passenger.
•Reduce Subsidies For The National Endowments For The Arts And Humanities, The Corporation For Public Broadcasting, And The Legal Services Corporation — Savings: $600 Million. NEA, NEH, and CPB provide grants to supplement other sources of funding. LSC funds services mostly duplicative of those already offered by states, localities, bar associations and private organizations.
•Eliminate Title X Family Planning Funding — Savings: $300 Million. Title X subsidizes family planning programs that benefit abortion groups like Planned Parenthood.
•Reduce Foreign Aid — Savings: $100 Million. Stop borrowing money from countries that oppose America’s interests in order