Thursday, February 23, 2012

Hey, Big conservative spender !

The US Budget Watch analysed the GOP candidates spending and tax policies. It should be no surprise that all of the GOP candidates except Ron Paul would increase the national debt.

Newt Gingrich would do the most damage to the national debt, followed by another big conservative spender, Rick Santorum.

The US Budget Watch says:

The United States faces a number of serious social and economic challenges. Federal budget deficits are projected for the foreseeable future, the economy remains weak, Social Security faces long-term financing concerns, health care spending is growing faster than the economy, tax policy is at a major crossroads, and our national debt continues to rise. 

Republican presidents have increased the national debt more than Democratic because they maintain spending levels while lavishing income and capital gains tax cuts on the affluent.

GOP spending priorities center around national defense and the GOP has found few new weapons systems it hasn't fallen in love with. The defense industry is dominated by affluent conservative corporatists. The CEOs and boards have better pay packages than Wall Street investment bankers.

Democrats would prefer to spend more on infrastructure and less on national defense. 

In the present economic crises, an increase of national spending is essential. However, the GOP preference for increasing defense spending and cutting taxes for the affluent won't help the average American. 

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