GOP Contenders Policies Would Raise US Debt: Study

    An independent analysis shows the U.S. national debt would grow under tax policies proposed by all four Republican candidates running for president.  And of the four, only one comes close to balancing the budget.

     

    Ask any of the Republican presidential hopefuls and they'll tell you the current president has done more harm than good.  

    ROMNEY: "Almost everything he's done has made it harder for this economy to reboot."

    GINGRICH: "I want to create a springboard in which people who are poor get educated, get a job, learn how to work, get a better job and someday own the company."

    But an independent study commissioned by the non-partisan Committee for a Responsible Federal Budget says fixing the U.S. economy will not be easy.

    Former Republican Congressman Bill Frenzel with the committee's U.S. Budget Watch project says economic policies championed by the four contenders, need more work.

    "None of the primary 'promisers' on the Republican side get us to a balanced budget in 10 years, even in the most optimistic estimates," said Frenzel.

    With no change to U.S. policy, by 2021, the committee says national debt, now nearly $15 trillion, will represent 85 percent of the nation's gross domestic output.  By comparison, Greece's debt before its second bailout was 160 percent of its GDP.  

    Instead of stabilizing the debt, CRFB president Maya MacGuineas says Republican campaign platforms would add to it, some more than others.

    "Under Gingrich's proposals, the debt would increase by $7 trillion compared to that amount and the debt levels would reach 114 percent of GDP," said MacGuineas.

    The study, based on specific candidate proposals, shows Congressman Ron Paul's policies would reduce debt by $2.2 trillion. But the study says Paul's plan offsets proposed tax cuts by eliminating prominent government agencies, including the Federal Reserve.

    Mitt Romney's blueprint would add $250 billion to the debt, while Rick Santorum's tax cuts would add $4.5 trillion.

    Analysts say the accounting problem stems from Republican aversion to new taxes. Former Congressional Budget Office Director Alice Rivlin says the analysis shows a more balanced approach is needed.

    "I think it is totally unrealistic that we can stabilize the debt over the long term without both increases in revenues and reductions in entitlements," said Rivlin.

    U.S. Budget Watch expects Republican candidates will dispute the group's findings. But the group welcomes the dialogue if it brings more transparency and compromise. The group says it plans to release a separate analysis of President Obama's economic agenda.

    This forum has been closed.
    Comments
         
    There are no comments in this forum. Be first and add one

    Featured Videos

    Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
    Immigrant Delegate Marvels at Democratic Processi
    X
    Katherine Gypson
    July 27, 2016 6:21 PM
    It’s been a bitter and divisive election season – but first time Indian-American delegate Dr. Shashi Gupta headed to the Democratic National Convention with a sense of hope. VOA’s Katherine Gypson followed this immigrant with the love of U.S. politics all the way to Philadelphia.
    Video

    Video Immigrant Delegate Marvels at Democratic Process

    It’s been a bitter and divisive election season – but first time Indian-American delegate Dr. Shashi Gupta headed to the Democratic National Convention with a sense of hope. VOA’s Katherine Gypson followed this immigrant with the love of U.S. politics all the way to Philadelphia.
    Video

    Video A Life of Fighting Back: Hillary Clinton Shatters Glass Ceiling

    Hillary Clinton made history Thursday, overcoming personal and political setbacks to become the first woman to win the presidential nomination of a major U.S. political party. If she wins in November, she will go from “first lady” to U.S. Senator from New York, to Secretary of State, to “Madam President.” Polls show Clinton is both beloved and despised. White House Correspondent Cindy Saine takes a look at the life of the woman both supporters and detractors agree is a fighter for the ages.
    Video

    Video Dutch Entrepreneurs Turn Rainwater Into Beer

    June has been recorded as one of the wettest months in more than a century in many parts of Europe. To a group of entrepreneurs in Amsterdam the rain came as a blessing, as they used the extra water to brew beer. Serginho Roosblad has more to the story.
    Video

    Video First Time Delegate’s First Day Frustrations

    With thousands of people filling the streets of Philadelphia, Pennsylvania for the 2016 Democratic National Convention, VOA’s Kane Farabaugh narrowed in on one delegate as she made her first trip to a national party convention. It was a day that was anything but routine for this United States military veteran.
    Video

    Video Commerce Thrives on US-Mexico Border

    At the Democratic Convention in Philadelphia this week, the party’s presumptive presidential nominee, Hillary Clinton, is expected to attack proposals made by her opponent, Republican presidential nominee Donald Trump, to build a wall along the U.S.-Mexico border. Last Friday, President Barack Obama hosted his Mexican counterpart, President Enrique Peña Nieto, to underscore the good relations between the two countries. VOA’s Greg Flakus reports from Tucson.
    Video

    Video Film Helps Save Ethiopian Children Thought to be Cursed

    'Omo Child' looks at effort of African man to stop killings of ‘mingi’ children
    Video

    Video London’s Financial Crown at Risk as Rivals Eye Brexit Opportunities

    By most measures, London rivals New York as the only true global financial center. But Britain’s vote to leave the European Union – so-called ‘Brexit’ – means the city could lose its right to sell services tariff-free across the bloc, risking its position as Europe’s financial headquarters. Already some banks have said they may shift operations to the mainland. Henry Ridgwell reports from London.
    Video

    Video Recycling Lifeline for Lebanon’s Last Glassblowers

    In a small Lebanese coastal town, one family is preserving a craft that stretches back millennia. The art of glass blowing was developed by Phoenicians in the region, and the Khalifehs say they are the only ones keeping the skill alive in Lebanon. But despite teaming up with an eco-entrepreneur and receiving an unexpected boost from the country’s recent trash crisis the future remains uncertain. John Owens reports from Sarafand.
    Video

    Video Migrants Continue to Risk Lives Crossing US Border from Mexico

    In his speech Thursday before the Republican National Convention, the party’s presidential candidate, Donald Trump, reiterated his proposal to build a wall along the U.S.-Mexico border if elected. Polls show a large percentage of Americans support better control of the nation's southwestern border, but as VOA’s Greg Flakus reports from the border town of Nogales in the Mexican state of Sonora, the situation faced by people trying to cross the border is already daunting.
    Video

    Video In State of Emergency, Turkey’s Erdogan Focuses on Spiritual Movement

    The state of emergency that Turkish President Recep Tayyip Erdogan has declared is giving him even more power to expand a purge that has seen an estimated 60,000 people either arrested or suspended from their jobs. VOA Europe correspondent Luis Ramirez reports from Istanbul.
    Video

    Video Calm the Waters: US Doubles Down Diplomatic Efforts in ASEAN Meetings

    The United States is redoubling diplomatic efforts and looking to upcoming regional meetings to calm the waters after an international tribunal invalidated the legal basis of Beijing's extensive claims in the South China Sea. VOA State Department correspondent Nike Ching has the story.
    Video

    Video Scientists in Poland Race to Save Honeybees

    Honeybees are in danger worldwide. Causes of what's known as colony collapse disorder range from pesticides and loss of habitat to infections. But scientists in Poland say they are on track to finding a cure for one of the diseases. VOA’s George Putic reports.

    Special Report

    Adrift The Invisible African Diaspora