Posts tagged ‘deficit’

October 17, 2012

Armchair Debating Mitt Romney

The 2nd presidential debate last night was nothing if not exciting and tension filled. The Obama we knew from 2008 was back with fervor while Romney fought back hard to maintain his momentum and success from the first debate. There were several moments of clear disagreement or misunderstanding of the facts between the two candidates. Romney pressed the president on oil and gas permitting, the actual events surrounding the attack in Benghazi, budget deficits and immigration. The President, while much improved this time around, was unable to fully push back. So to play a bit of armchair debating and employ a healthy dose of 20/20 hindsight let’s revisit a few of these issues from last night.

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February 28, 2012

The Daily Scoop: Five myths about Medicare

Because of Medicare’s size and growth, the health-care program has taken center stage on the campaign trail and in Capitol Hill discussions about the federal budget deficit. Medicare covers almost one in six Americans and comprises about 15 percent of the federal budget, but it is often misunderstood. Let’s take a few minutes to separate fact from fiction.
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January 7, 2012

The Daily Scoop: Romney plan raises taxes on poor families

WASHINGTON (AP) — Republican Mitt Romney’s tax plan would increase taxes on low-income families while cutting taxes for the middle-class and the rich, according to an independent study released Thursday.

  • On average, households making less than $20,000 would see their taxes increase by more than 60%
  • Households making between $50,000 and $75,000 would get small tax cuts, averaging 2.2%
  • People making more than $1 million would get tax cuts averaging 15%
  • Overall, Romney’s plan would reduce tax revenues by $180 billion in 2015, adding to the federal budget deficit
  • Will repeal tax increases on wealthier individuals as part of the health care reform
  • Allows Stimulus Bill tax cuts expire {which target low-income families with children; expanded tax credit for college students; a more generous Earned Income Tax Credit for families with 3+ children, & a more generous child tax credit for low-income families}…
  • but makes the Bush tax cuts permanent.

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