Budget & Economy

The mission to restore America begins with getting our fiscal house in order. President Obama has put our nation on an unsustainable course. Spending is out of control. Yearly deficits are massive. And unless we curb Washington’s appetite for spending, the national debt will grow to the size of our entire economy this year.

As President, Mitt Romney will cut federal spending and bring much-needed reforms to entitlement programs. Mitt will work toward balancing the budget, reducing the size and reach of the federal government, and returning power to states and the people.

End Deficit Spending

Exercise fiscal responsibility to restore economic opportunity.
Washington is addicted to deficit spending. As President, Mitt Romney will cut spending to finally move our nation toward a balanced budget.

During the Bush years, the nation’s deficit—the gap between what Washington collects and spends each year—hovered between 2 percent and 4 percent of GDP. These levels were already problematic and a cause for concern. During the Obama administration, however, the deficit exploded to 10 percent of GDP.

One major problem with sky-high deficit spending is that it necessarily leads to another practice that undermines the nation’s fiscal foundation: borrowing unhealthy sums to pay for what we already cannot afford. America is on an unsustainable path that, within just a few short years, will cripple the economy and foreclose any opportunity for recovery.

Mitt Romney will bring fiscal restraint to Washington by placing a hard cap on federal spending to force our government to live within its means and put an end to deficit spending.

Mitt will also curb federal spending by repealing Obamacare, the federal takeover of health care that is scheduled to cost taxpayers one trillion dollars over the next ten years. He will also focus on eliminating wasteful government spending and right-sizing the federal government to save taxpayer dollars.

Mitt Romney’s goal is to put the federal government on a course toward a balanced budget and true fiscal responsibility.

Entitlement Spending

Reform entitlement programs to keep them solvent and put America on a path to prosperity.
Federal spending on entitlement programs like Medicaid, Medicare, and Social Security has not only spiraled out of control, but has placed their very solvency in danger. Unfortunately, President Obama has failed in his fundamental responsibility to articulate a serious vision and plan for the future of these programs. At present, the total cost of U.S. entitlement programs accounts for more than half of all federal spending. Combined with interest payments on the national debt, so-called “mandatory” spending is over 60 percent of all federal spending.

Many of our fellow citizens have no idea that our growing entitlement spending has created a looming crisis. This is because politicians have a habit of hiding our country’s long-term liabilities. Mitt Romney believes that the federal government should publish a balance sheet each year—just as it requires public companies to do—so that Americans can understand the burden that future entitlement spending will place on our budget and economy. Over the course of his campaign, Mitt will propose the specific steps he will take as President to ensure the long-term solvency of Medicare and Social Security. While reforms are needed, Mitt also believes that these changes should not reduce benefits for current seniors or break the promises they have relied upon for their economic security in retirement.

Mitt knows that our economic future—along with the future of entitlement programs—depends on fundamental reform. If we wisely begin to reform entitlements and commit to live within our means, we can bestow on the next generation an America that is stronger and even more prosperous than the one we know today.

Voting Record

• Bailout program wasted money; let companies go bankrupt. (Jun 2011)
• Don't ask "what can we cut" but "what should we keep". (Jun 2011)
• This recession has cost $12 trillion in net worth. (Feb 2009)
• Apply Reaganomics to current recession: cut taxes & grow. (Jan 2008)
• Make sure that we rein in spending. (Jan 2008)
• Support some kind of national catastrophic fund. (Jan 2008)
• Only someone who worked in private sector can fix economy. (Jan 2008)
• Couple short-term stimulus with long-term growth boost. (Jan 2008)
• Avoid housing foreclosures to avoid recession. (Jan 2008)
• To avoid recession, deal with housing crisis & gas prices. (Jan 2008)
• Economic strength comes from people, not from Washington. (Dec 2007)
• Cut deficit via waste, like 342 different economic programs. (Dec 2007)
• Fundamentally change how Washington works, to reduce pork. (Nov 2007)
• Giuliani increased spending by 2.8%; I held increase to 2.2%. (Oct 2007)
• FactCheck: Closed MA budget gap of $1.2B, not $3B. (Sep 2007)
• Disagrees with reported negative study of MA economy. (Aug 2007)
• AdWatch: Cap discretionary spending at inflation minus 1%. (Jun 2007)
• Washington is broken; needs fundamental change. (May 2007)

Education

Voting Record

• School choice over fat-cat CEOs of teachers' unions. (Feb 2010)
• FactCheck: US scores at 50% internationally, not 10%-25%. (Dec 2007)
• FactCheck: MA 1st in test scores, but was 1st before Romney. (Dec 2007)
• Education is not just the teachers’ union. (Dec 2007)
• Bush was right on No Child Left Behind. (Dec 2007)
• Identify failing schools; push choice & English immersion. (Dec 2007)
• Principles: choice; parental involvement; merit scholarships. (Dec 2007)
• Supports English immersion & abstinence education. (May 2007)
• Changed from closing Education Dept. to supporting NCLB. (May 2007)
• Reform underperforming schools or replace with charters. (Sep 2002)
• Supported abolishing the federal Department of Education. (Mar 2002)
• Schools can teach family values, but not religion or prayer. (Aug 1994)
• Supported means-tested vouchers for public & private schools. (Mar 2002)

Energy

Voting Record

• They don’t call it “America warming” but “global warming”. (Jan 2008)
• Opposes McCain-Lieberman bill due to $0.50/gal. gas tax. (Jan 2008)
• $20 billion package for energy research & new car technology. (Jan 2008)
• Need worldwide global warming solutions; not CAFE or US tax. (Jan 2008)
• Invest in new technologies to get us off of foreign oil. (Dec 2007)
• Develop energy technology like nuclear or liquefied coal. (Oct 2007)
• The time for true energy independence has come. (Aug 2007)
• Exporting carbon emissions to China hurts US and planet. (Aug 2007)
• No-regrets policy: biofuel, nuclear power, drill ANWR. (Jun 2007)
• Big Oil should reinvest profits in oil refineries. (Jun 2007)

Environment

Voting Guide

• States should be able to have their own emissions standards. (Jan 2008)
• Response to Big Dig death shows how Romney handles crises. (Mar 2007)
• Lit mountain with Olympic rings while placating enviro’s. (Aug 2004)
• Clean environment will be a campaign theme. (Mar 2002)

Foreign Policy

The United States faces numerous challenges abroad. China is emerging, Russia is resurgent, and radical, violent jihadists seek our destruction. We must rise to these challenges to preserve our interests and promote peace. Mitt Romney believes that peace and prosperity around the world depend on a strong America. That requires a strong military, a strong economy, and a renewed diplomatic strategy that advances the cause of freedom, human rights, and opportunity.

Instead of apologizing for America abroad and “leading from behind,” Mitt Romney will pursue a strategy of American strength.

A Strong Military

Restore defense capabilities to ensure security at home and peace abroad Amidst three hot wars, looming threats, and a military mission spectrum that now includes humanitarian relief, America must make long-overdue investments in our military.

• Modernize air and naval forces, weapons systems, and equipment
• Grow the number of troops and ensure that funds go to their needs and care
• Establish robust missile defense and repair and update our nuclear arsenal
• Oppose efforts to cut our military budget

Dynamic Diplomacy

Enhance America’s “soft power” to bolster our standing and influence
“Soft power” is real power. America must capitalize on the appeal of liberty, free enterprise, and our historical generosity toward nations in need to attract allies—old and new—to the cause of liberty and peace. Our diplomatic and assistance efforts, however, are hampered by a complicated foreign policy bureaucracy that divides authority across agencies. Mitt Romney will place all diplomatic authority in a given region under the charge of one envoy. This will ensure accountability and effective, unified strategies.

Steadfast Alliances

Revitalize alliances to meet common challenges America’s strength is amplified when it is combined with the strength of other nations. We must therefore be a resolute friend to our allies and honor our commitments to them. If we stand by them, they will stand by us to face our common challenges.

• Fast-track NATO admission for our allies
• Bolster our support for Israel, which has always been and will continue to be our strongest ally in the Middle East
• Building on NATO, establish a global military alliance of democracies dedicated to ensuring security and protecting freedom.
• Refrain from criticizing allies publicly and without consultation

Voting Record

• No European-style solutions to an American problem. (Feb 2011)
• Unless US changes course, we’ll no longer be superpower. (Feb 2008)
• Putin is a troubling leader and an authoritarian. (Jan 2008)
• The US is the only major power believing in free enterprise. (Jan 2008)
• Free Cuba and eliminate threat of people like Hugo Chavez. (Dec 2007)
• 2006: Blocked services for Iran’s Khatami speech at Harvard. (Aug 2007)
• To win the war on jihad, we need friends in Muslim world. (Aug 2007)
• Encourage others to welcome democracy, without military. (Aug 2007)
• Move Muslim world toward modernity so they reject extreme. (Aug 2007)
• US is not arrogant, but we have resolve. (Jun 2007)

Healthcare

Our next president must repeal Obamacare and replace it with market-based reforms that empower states and individuals and reduce health care costs. States and private markets, not the federal government, hold the key to improving our health care system.

ObamaCare

Repeal and replace President Obama’s health care law
Mitt Romney believes that Obamacare must be repealed. On his first day in office, he will issue an executive order paving the way for waivers from Obamacare for all 50 states. Subsequently, he will call on Congress to fully repeal Obamacare, and advocate reforms that return power to the states, improve access by slowing health care cost increases, and make health insurance portable and flexible for today’s economy.

State leadership

Give states the responsibility, flexibility, and resources to act
The central advantage of our federalist system is that different states will experiment with and settle on the health care solutions that suit their residents best. We can empower states to expand health care access to low-income Americans by block-granting funds for Medicaid and the uninsured. Mitt Romney’s reforms also offer the states resources to help the chronically ill, to improve their access to care, and to improve the functioning of insurance markets for others.

Healthcare Tax Reform

Empower individuals to purchase their own insurance
The tax code currently offers open-ended subsidies for the purchase of insurance through employers. Mitt Romney will expand the tax deduction to also include those who buy their own health insurance. This simple change creates the best of both worlds. Absolutely nothing will change for those who like their current coverage. And individuals who don't get coverage through their employers will have portable, lower-cost options.

Regulatory Reform

Focus federal regulation of health care on making markets work
Mitt Romney believes that the federal regulation of health care should be limited and focused. Obamacare takes an opposite approach and uses federal regulation in an all-encompassing manner. Mitt will use limited federal regulation to correct common failures in insurance markets, while eliminating counterproductive federal rules. For example, individuals who are continuously covered for a specified period of time may not be denied access to insurance because of pre-existing conditions. Mitt also believes that individuals should be allowed to purchase insurance across state lines, free from costly state benefit requirements. Finally, individuals and small businesses should be allowed to form purchasing pools to lower insurance costs and improve choice.

Medical Malpractice Reform

Reform the broken medical liability system
The current medical liability system encourages defensive medicine and drives up health care costs. To address these problems, Mitt Romney will cap non-economic damages in medical malpractice litigation. He also believes in providing innovation grants to states for additional medical liability reforms, such as alternative dispute resolution or health care courts.

Market Forces

Make health care more like a market and less like a government program
Mitt Romney will strengthen health savings accounts (HSAs), which help consumers save for health expenses and choose cost-effective insurance. For example, he believes that we should permit HSA funds to be used to pay for health insurance premiums. The market reforms Mitt is proposing will drive down costs, better inform consumers, and improve the quality of health care in our nation.

Voting Record

• If people of MA don't like RomneyCare, they can change it. (Jun 2011)
• ObamaCare's power grab won't work; Obama didn't ask me. (Jun 2011)
• Base health care system on free choice & private medicine. (Feb 2009)
• Mandating citizens to buy health insurance is conservative. (Jan 2008)
• Get everyone some form of catastrophic health coverage. (Jan 2008)
• FactCheck: Untrue that 47M uninsured want to “not play”. (Jan 2008)
• Personal responsibility instead of employer mandates. (Dec 2007)
• Let states create their own private, market-based insurance. (Oct 2007)
• Removing most mandates drove down premium cost by half. (Oct 2007)
• FactCheck: HillaryCare closer to RomneyCare than “all gov’t”. (Oct 2007)
• Same tax treatment if people buy insurance without employers. (Oct 2007)
• Get everybody insured with state-based market dynamics. (Oct 2007)
• MA plan blends personal responsibility & universal coverage. (Aug 2007)
• Conservative idea: individual responsibility for health care. (Aug 2007)
• Insure 45 million uninsured with a free-market based system. (Aug 2007)
• FactCheck: Romney plan virtually identical to Obama plan. (Jun 2007)

Immigration

Voting Record

• GovWatch: 2005: Called comprehensive reform “reasonable”. (Feb 2008)
• Deport illegal immigrants in 90 days under the ideal setting. (Jan 2008)
• Found Z-visa & McCain-Kennedy bill to be offensive. (Jan 2008)
• FactCheck: Yes, his ads DID accuse McCain of “amnesty”. (Jan 2008)
• Illegal immigrants should go home eventually. (Dec 2007)
• No mandatory prison term for employers who hire illegals. (Dec 2007)
• AdWatch: Huckabee ok’ed tuition & scholarships for illegals. (Dec 2007)
• FactCheck: Took hard-line on illegals, but only late in term. (Dec 2007)
• Welcome the people who have been standing in line first. (Dec 2007)
• Employers have no means of knowing who’s legal & who’s not. (Dec 2007)
• Avoid chain migration; disallow families from one citizen. (Dec 2007)
• Illegal immigrants shouldn’t get tuition break in schools. (Nov 2007)
• FactCheck: Illegals employed at his home, but by contractor. (Nov 2007)
• AdWatch: No driver’s license & in-state tuition for illegals. (Nov 2007)
• FactCheck: MA state cops never enforced immigration laws. (Nov 2007)
• FactCheck: Took no action against 4 Mass. sanctuary cities. (Nov 2007)
• Reduce federal funding to sanctuary cities. (Sep 2007)
• Z-visa is not technically amnesty; but is in fact amnesty. (Sep 2007)
• FactCheck: NYC never declared itself a “sanctuary city”. (Sep 2007)
• Make America more attractive for legal immigrants. (Aug 2007)
• Priorities: secure border, employer verification, no amnesty. (Aug 2007)
• Enforce the law against 12 million illegals here now. (Jun 2007)
• Proposed Z visa allows illegal aliens to stay in America. (Jun 2007)
• Make English national language; communicate in Spanish too. (Jun 2007)
• McCain’s plan gives special pathway to those here illegally. (May 2007)
• Keep rule barring immigrants from running for president. (May 2007)

Jobs & Corporations

The United States is mired in the worst economic crisis since the Great Depression, with more than 20 million Americans who are unemployed, underemployed, or who have stopped looking for work. President Obama has neglected the fundamental tasks of creating jobs and growing our economy. Instead, he’s focused his efforts on an anti-jobs, anti-growth agenda that has significantly expanded the role of the federal government. His actions have only succeeded in creating more of the uncertainty and obstacles to investment that threaten the economic vitality of our nation.

Mitt Romney has the experience and know-how to create jobs and help businesses grow. He spent over twenty-five years in the private sector, building businesses and creating jobs. Elected Governor of Massachusetts during an economic slump, Mitt Romney fought hard to make his state job-friendly and business competitive.

Over the course of this campaign, Mitt will lay out a detailed plan for what he will do as President to jump-start economic growth and help create jobs. His plan will be based on the following principles:

• Right-size government by cutting spending, repealing Obamacare, and ending wasteful programs
• Make American businesses competitive in the global economy
• Open markets abroad, on fair terms, for American goods and services
• Ensure energy security and independence for America
• Train and prepare American workers for the jobs of today and tomorrow

Smaller Government

Reverse President Obama’s massive expansion of federal power
We must cut federal spending to free up resources for productive investment, and curtail ever-expanding federal authority to provide businesses with the certainty and stability they need to make those investments. As President, Mitt Romney will place a hard cap on federal spending, forcing Washington politicians to control the size and growth of government.

Economic Competitiveness

Make America the most attractive place in the world to do business Today, more than ever, new businesses can choose where to form and existing ones can choose where to invest and hire. America has long been the most dynamic economy in the world, and we must not let our government change that. As President, Mitt Romney will:

• Lower taxes on businesses to keep America competitive in the global economy
• Slash bureaucratic red tape and place a hard cap on the impact that federal regulations can have on the economy
• Limit the corrosive influence of union bosses on productive businesses

Free Trade On Fair Terms

Open markets on fair terms for our products and services around the world
Access to foreign markets is crucial to growing our economy. We must reassert American leadership in international negotiations, follow through on commitments we have already made, and push aggressively for advantageous new agreements.

Energy Security and Independence

Meet the challenge of achieving a secure and affordable supply of fuels
We need to lower the amount of energy we use and increase the supply of domestic energy sources. Government must be a partner, not an obstacle, in this effort. As President, Mitt Romney will facilitate the exploration and development of conventional fossil fuels, remove the regulatory hurdles that prevent the construction of nuclear power plants, and address market failures that prevent the adoption of new technologies.

Training and Preparing America’s Workers

Prepare the American workforce to succeed in a 21st-century economy
Our economy is rapidly changing. Some of the steps we must take to restart economic growth—for instance, expanding trade relationships and developing new sources of energy—will only hasten that evolution. We need to eliminate ineffective government handouts, and instead give workers the resources and responsibility to develop valuable skills and make the transition to new types of work.

Voting Record

• FactCheck: No, fewer US unemployed than Canadians employed. (Feb 2011)
• FactCheck: No, more jobs lost under Bush than under Obama. (Feb 2011)
• Built long-term pipeline for MA jobs; so job growth is slow. (Jan 2008)
• Take action & we need not give up on any industry’s jobs. (Jan 2008)
• MA had 3rd worst job growth; I turned around declining rates. (Jan 2008)
• I believe in domestic supports for our agriculture industry. (Oct 2007)
• Good unions train members; bad unions hurt their company. (Oct 2007)
• FactCheck: Yes,US added 50M jobs since ‘78; but EU added 36M. (Aug 2007)
• Tax incentives for employee training. (Mar 2002)

National Security, Homeland Security, & Defense

Voting Record

• Strong Economy; Strong Military; Strong People. (Mar 2010)
• No Miranda rights for suicide bombers. (Feb 2010)
• Closing Guantanamo leaves America vulnerable to another 9/11. (Feb 2009)
• Raise military spending to 4% of our GDP. (Feb 2008)
• Add 100,000 to the military without a draft. (Jan 2008)
• Best to not say whether waterboarding is torture or not. (Jan 2008)
• Not wise for us to describe our interrogation techniques. (Nov 2007)
• Lawyers are the last people to ask about war decisions. (Oct 2007)
• FactCheck: Bush cut military budget as much as Bill Clinton. (Oct 2007)
• Apologized for comparing public service to military service. (Sep 2007)
• Wiretap mosques to keep tabs on Islamic extremists. (Sep 2007)
• Sharply increase military investment to face radical jihad. (Aug 2007)
• Global military & non-military effort to defeat jihad. (Aug 2007)
• Don’t weaken Musharraf; we need ally against Bin Laden. (Aug 2007)
• Double Guantanamo, to avoid terrorist access to lawyers. (May 2007)
• Eligible for draft in 1969; regrets not having served. (Mar 2007)
• Stronger America is less likely to have to fight. (Mar 2007)

Taxes

• Raised service fees like highway ads, from $200 to $2,000. (Jan 2008)
• Fees are appropriate for the government to provide services. (Jan 2008)
• I support the Bush tax cuts. (Jan 2008)
• Avoid recession with immediate middle-income tax cuts. (Jan 2008)
• Raised $240M in MA fees, but only covering cost of services. (Jan 2008)
• Zero tax rate on capital gains, for incomes up to $200,000. (Jan 2008)
• Lowering taxes, like Bush tax cuts, grows the economy. (Jan 2008)
• FactCheck: Never opposed 2003 Bush cuts, but never supported. (Jan 2008)
• Reduce the tax burden on middle-income families. (Dec 2007)
• Signed no-tax pledge; Dems pledge to raise taxes. (Sep 2007)
• Death tax just doesn’t make sense. (Aug 2007)
• Commission studied FairTax and found serious flaws. (Aug 2007)
• Pledges no new taxes in 2007 after refusing pledge in 2002. (May 2007)
• FactCheck: Did not raise MA taxes, but DID raise MA fees. (May 2007)
• End taxes on interests, dividends & capital gains. (May 2007)