Romney Curbing Out Of Control Federal Spending

CHALLENGE #7:

Curbing Out Of Control Federal Spending CHALLENGE: Politicians from both parties in Washington, D.C. have spent too much money on too many programs for far too long. The American people are sick and tired of out of control federal spending. Overspending has led to deficits and an increasing national debt. The competition for pork barrel spending and the prevailing practice of out of control earmarking has contributed greatly to a culture of corruption in Washington that has tarnished both parties and led to a lack of faith and trust in America’s elected representatives. GOVERNOR ROMNEY: “I had occasions to be in the turnaround business… And I’d like to get my hands on Washington. It needs to be taken completely apart, with every program and agency evaluated for effectiveness and efficiency. Every business does that or goes bankrupt. But Washington seems to get larger and larger every year.” (Peter Hecht, “Political Conversion,” Sacramento Bee, 3/15/07) GOVERNOR ROMNEY: “I believe that we are overtaxed and government is overfed. Washington is spending too much money.” (Governor Mitt Romney, Remarks At Presidential Announcement, 2/13/07) GOVERNOR ROMNEY: “Government is simply too big. State government is too big. The federal government is too big. It’s spending too much. There’s a lot we can do with efficiency and duplication. There’s even more we can do by just simply cutting back on the scale of our government.” (Governor Mitt Romney, Remarks At The Club For Growth, 3/29/07) The Domestic Discretionary Spending Binge (Outlays in Billions)

$500

$461

Billions of Dollars

$450 $400

Binge Growth

$350

$348

$300 $250

Inflation adjusted 1998 outlays plus Homeland Security

$200 $150 $100

1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 Source: Congressional Budget Office

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Curbing Out Of Control Federal Spending: THE ROM NEY Plan Bring Fiscal Discipline And Strong Management To Washington ■ Establish Strict Spending Limits. Veto domestic nondefense discretionary appropriations that increase spending by more than inflation minus one percent. ■ Conduct Stem-To-Stern Review. Re-examine and evaluate all federal spending programs to identify waste, duplication, and inefficiencies that can be eliminated. ■ Reform Entitlements. In a forthright and bipartisan manner, as President, Governor Romney will work with Congress to address the looming budget crisis caused by increasing entitlement spending. ■ Institute The Line-Item Veto. Give the President the same power held by most state governors, to veto individual elements of a spending bill and strip out unnecessary spending. ■ Give President Flexibility. Authorize the Executive Branch to spend up to 25 percent less than Congress appropriates for a given project or agency. ■ Restore Supermajority Requirement. Impose congressional rule requiring a three-fifths (60%) supermajority to pass any law that would raise taxes.

GOVERNOR ROMNEY: “Let me tell you, spending can be controlled. I know how to do it. I’ve done it before. We can control earmarks. We can control pork. We can put a cap on discretionary spending. I want to get in place and do a top-to-bottom review of every agency of government. I love doing that.” (Governor Mitt Romney, Remarks At The Club For Growth, 3/29/07) GOVERNOR ROMNEY: “What I’ve said is domestic discretionary spending I will cap at inflation less one percent – so one percent less than inflation… if I get those bills on my desk and they’re greater than that amount, I will veto them.” (Governor Mitt Romney, Remarks At The Club For Growth, 3/29/07) GOVERNOR ROMNEY: “And I like vetoes. I vetoed a lot of things and we’ve got to have that happen. You know, people used to say to me in Massachusetts, ‘Governor, you’ve had a lot of vetoes and a lot of them get overridden. Most of them get overridden. That weakens your power.’ I said, ‘Baloney. I want people to know what I stand for. And I’m going to veto items even if that 85% [Democratic] legislature goes out and spends it, I’m going to veto it to make sure people know what is right and what is wrong for the leadership in our state.’” (Governor Mitt Romney, Remarks At The Club For Growth, 3/29/07)

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