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The Trail: 2012 Presidential News from the Field / Campaign 2012

Romney Attacks Obama on Taxes, Fiscal Policy

February 8, 2012

 

Mitt Romney attacked President Obama's fiscal policy in a Wednesday morning USA Today op-ed, arguing that the president has placed the country on a dangerous path.

"The president has allowed spending to explode on his watch, from a historical average of about 19% of GDP up to 25% of GDP," Romney wrote. "While no other president had ever run a $1 trillion deficit, he will run one every year of his administration. By the end of his first term, President Obama will have added nearly as much publicly held debt as all 43 prior presidents combined."

 

Romney went on to attack Obama's push to raise taxes on the wealthy, promising that he would oppose tax increases if elected:

"I will make today's low individual tax rates permanent, cut business taxes, and make the tough calls necessary to bring spending back in line with what we can afford. I will cap spending at 20% of GDP by 2016, which will require between $400 billion and $500 billion in cuts."

 

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