Wednesday, July 11, 2012

Mitt bombs at NAACP Covention

Mitt Romney stepped on it big time.

Republicans like to suggest that they are fiscally conservative, but usually Republican presidents and
congresses create more national debt than their Democratic counterparts. 

Regardless, the big difference is how the two parties want to spend Federal revenues. 

The US is already the biggest defense spender in the world and produces more than half of the world's arms and munitions.

President Obama wants to keep the Pentagon budget essentially flat during the next 10 years.

Mitt Romney, by contrast, wants a huge increase defense spending. One estimate is more than 50% above the current level. 

That could result in almost $2 trillion in additional military spending during the next 10 years.

The defense take from the Gross Domestic Product  would increase form  3.2 per cent to 4 per cent. 

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