LAKE JACKSON, Texas--(BUSINESS WIRE)--According to a recent nonpartisan report, 2012 Republican Presidential contender Ron Paul’s Plan to Restore America is the only budget plan from a presidential candidate that would actually reduce the national debt. While all the candidates have proposed tax cuts, Ron Paul is the only candidate to propose concrete spending cuts to reduce deficits and ultimately the national debt. Below please find an article from Bloomberg summarizing the report.
Paul Is Only GOP Contender Whose Policies Would Pare Debt, Analysis Finds
By Brian Faler
Ron Paul is the only major Republican presidential candidate whose policies would reduce the U.S. debt, according to a nonpartisan report.
The plans of Republicans Newt Gingrich, Rick Santorum and Mitt Romney would add trillions of dollars to the debt over the next decade, according to an analysis released today by the Committee for a Responsible Federal Budget in Washington.
The primary reason is tax cuts. Each candidate has proposed breaks that would drain far more revenue from the treasury than the candidates propose to save through spending cuts, according to the report.
It is the first independent analysis of what the candidates’ platforms would mean for the U.S. government’s $15.4 trillion debt and comes as the leading Republican contenders criticize President Barack Obama for a spiraling deficit.
The plans of former House Speaker Gingrich would add the most, with tax-and-spending policies that would increase the debt by $7 trillion by 2021, according to the report. The proposals of Santorum, a former U.S. Senator from Pennsylvania, would add $4.5 trillion, the analysis said. Both would push the debt to more than 100 percent of U.S. gross domestic product, according to the report.
For the original article, please click here.
For Ron Paul’s Plan to Restore America, please click here.
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