August 12, 2012

Campaign 2012 Issues

The entry of Paul Ryan in the mix hopefully will bring out the details of just how each side proposes to get the debt under control. On April 13, 2011 President Obama said the following regarding his fiscal policy.
" So this is my approach to reduce the deficit by $4 trillion over the next 12 years. It’s an approach that achieves about $2 trillion in spending cuts across the budget. It will lower our interest payments on the debt by $1 trillion. It calls for tax reform to cut about $1 trillion in tax expenditures -- spending in the tax code. And it achieves these goals while protecting the middle class, protecting our commitment to seniors, and protecting our investments in the future."
The President needs to get more specific with his plans. Where is the $2 trillion in spending cuts coming from? Show us how interest payments on the debt is reduced by $1 trillion. What is "tax expenditures" and where are they coming from? (I suspect these are tax increases on the wealthy.)

Mr. Romney has been even more vague in his approach to solving our debt problem. It is time we see the details of each sides plan regarding our debt. It is too important to gloss over. The public understands that the final result of each plan will be altered from what is proposed; however, the voter will have a better understanding of what each candidate wants to achieve.

After explaining their debt reduction plan each candidate needs to address the following questions in order for the voter to make a sound voting decision.

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