This article from the Washington Post is the second analysis of the fiscal plans Mitt Romney would implement should he be elected to occupy the White House. The first examination of his previously released plan by the Tax Policy Center was posted here on January 7th. The results were not altogether positive. Unfortunately, for the presidential candidate, these more recent federal budget ideas unveiled at the 2012 CPAC conference did little to alleviate concerns for their viability, according to the Center on Budget and Policy Priorities findings.
Romney’s severely conservative budget promises
In his speech to CPAC, Mitt Romney repeated a promise that he’s delivered repeatedly on the campaign trail. “Without raising taxes or sacrificing America’s critical defense superiority, I will finally balance the budget.” That sounds pretty good. It sounds really good, in fact. And then you look at the numbers.
Romney has, essentially, made four significant fiscal promises: He has pledged to cap federal spending at 20 percent of GDP. He has pledged to cut taxes to about 17 percent of GDP. He has pledged to a floor on defense spending at 4 percent of GDP. And he has pledged to balance the budget.