Cliff notes:
So far what we have is four candidates who are all serious about cutting spending, but are also very serious about cutting taxes," says Maya MacGuineas, president of the bipartisan organization. "And in most cases they would cut taxes by more than their spending cuts, which would make the overall deficit situation worse."
The lone exception is Texas Rep. Ron Paul, whose plans would actually shrink the debt by more than $2 trillion over the next decade.
The lone exception is Texas Rep. Ron Paul, whose plans would actually shrink the debt by more than $2 trillion over the next decade.
10-Year Debt Impact of the Candidates' Plans in Billions (Intermediate-Debt Scenario)
.....................................Gingrich..... ....Paul........Romney.....Santorum
Tax Policies.....................$7,100..........$5,20 0.....$1,350.........$6,050
Spending Policies..............-$2,700 ......-$7,500.....-$1,200 .......-$2,250
Cross-Cutting Policies.........$1,700.......$400........... $70............$70
Interest on the Debt...........$900.........-$300............$50..........$640
Total Debt Impact (billions)..$7,000 ......-$2,200.........$250........$4,500
Total Debt Impact (% of GDP).30% ..........-9% ...........1%...........19%
Debt as a Share of GDP in 2021..114%.......76%..........86%..........104%
.....................................Gingrich..... ....Paul........Romney.....Santorum
Tax Policies.....................$7,100..........$5,20 0.....$1,350.........$6,050
Spending Policies..............-$2,700 ......-$7,500.....-$1,200 .......-$2,250
Cross-Cutting Policies.........$1,700.......$400........... $70............$70
Interest on the Debt...........$900.........-$300............$50..........$640
Total Debt Impact (billions)..$7,000 ......-$2,200.........$250........$4,500
Total Debt Impact (% of GDP).30% ..........-9% ...........1%...........19%
Debt as a Share of GDP in 2021..114%.......76%..........86%..........104%

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