Super Tuesday Special: How Does Each Candidate Rate?


Tuesday March 6th, 2012   •   Posted by Stephanie Freedman at 11:33am PDT   •  

CNN Money offers a clear cut break down of what each candidate’s budget plan would do for the deficit:

Newt Gingrich’s plan
Debt over next decade: Adds $7 trillion, increasing debt to GDP to 114%.
Costliest proposal: Create an alternative flat tax of 15%, which would increase debt by $3.4 trillion.
Biggest cost saver: Turn means-tested federal programs such as Medicaid into block grants to states and cut federal funding for these programs in half, saving $2.4 trillion.
Interest costs on the debt: Raises it by $900 billion.

Rick Santorum’s plan
Debt over next decade: Adds $4.5 trillion, increasing debt to GDP to 104%.
Costliest proposal: Reduce and reform individual income taxes, at a cost of $3.6 trillion.
Biggest cost saver: Transform various social programs into block grants to states and capping their growth, saving $950 billion.
Interest costs on the debt: Raises it by $640 billion.

Mitt Romney’s plan
Debt over next decade: Adds $250 billion, increasing debt to GDP to 86%.
Costliest proposal: Reduce corporate taxes, which would increase debt by $1 trillion.
Biggest cost saver: Reduce federal workforce costs, saving $530 billion.
Interest costs on the debt: Raises it by $40 billion.

Ron Paul’s plan
Debt over next decade: Reduces it by $2.2 trillion, lowering debt to GDP to 76%.
Costliest proposal: Get rid of various income taxes, such as the Alternative Minimum Tax and taxes on investment income, Social Security benefits and tips, at a cost of $2.5 trillion.
Biggest cost saver: Reduce many parts of non-defense spending, such as eliminating five federal departments including education, commerce and energy, saving $4.5 trillion.
Interest costs on the debt: Lowers it by $300 billion.

View Full Article Here

I hope this helps everyone while they embark on this lovely Super Tuesday!

Featured Image:
Image via http://mediadecoder.blogs.nytimes.com/



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