This chart showcases the differences between what we currently spend on the military….and what the military budget would look like under Romney’s proposal. Says the National Interest:
Now consider how this compares with the recent past. As you can see, Romney’s 4 percent gimmick would result in taxpayers spending more than twice as much on the Pentagon as in 2000 (111 percent higher, to be precise) and 45 percent more than in 1985, the height of the Reagan buildup. Over the next ten years, Romney’s annual spending (in constant dollars) for the Pentagon would average 64 percent higher than annual post–Cold War budgets (1990-2012), and 42 percent more than the average during the Reagan era (1981-1989).
Here is the bottom line – Mitt Romney says he’s going to cut taxes by substantial margins while we already have a $1 trillion deficit and he’s going to increase military spending significantly (if not go to war with Iran). He also says that he’s not going to cut Social Security or Medicare even though he has referred to an Obama America as a European “entitlement society” and has supported the Ryan plan to end Medicare as we know it.
With these huge military spending increases and huge cuts in revenues vis a vis tax cuts for the rich…the only options are to significantly cut programs that will help the poorest Americans (he doesn’t worry about the poor remember), cutting Social Security, Medicare, and federal funding to help make college affordable for kids.
Either that – or he’s going to run $1.5 trillion deficits. That’s the math.
Of course – we already know that Romney’s budget would effectively give the largest tax increase to the wealthy in the history of our country:
Under Mitt Romney’s plan – if one does the math…a person making $10 million a year looks to receive a $2.5 million tax cut.
Source: Study: Romney Tax Plan Heavily Tilted to Those With Highest Incomes
We know that these tax cuts are disproportionately benefiting the wealthiest Americans:
Source: Facts As Visuals: Romney Vs. Obama Tax Cuts
We know that his proposals are going to increase the deficit considerably:
Source: Facts as Visuals: Comparing Deficit Proposals
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